AND:The State of Kraken Client Services – 18Q2_LESLAR Metaverse

CustomerserviceisdeeplyimportanttoKraken.?Itiscoretoourbrandandcompanyculture.?Securityfirstandcustomerservicesecond.?Wemustsetapositiveexampleforthisindustry,anddothingsbetterthantheservicesweseektoreplace.?Ifwetakecareofourclients,they’lltakecareofus.?—KrakenCEO,JessePowell

Introduction

AspartofourefforttoimprovetheKrakenclientexperience,wehavebeenissuinginternalreportstotracktheperformanceofourClientServicesteam.Thisreport,thefirstofaplannedseries,isadaptedforpublicconsumptionfromourinternalreports.Wearesharingthisinformationbecausewethinkourclientswillappreciatemoreinsightintothechallengesweface,theprogresswehavemade,andourplansforfurtherimprovement.

Forthisquarter,wehaveachievedsomesignificantmilestonegoalsincluding:

clientsatisfactionhasimprovedsignificantlyto94%comparedto80%inthepriortwoquartersasourspecialistsareabletoserviceclientswithquickerandmorepersonableresponses;medianfirstresponsetime(FRT)hasshownstrongimprovementsto2hoursthisquartercomparedtoover7daysinQ12018and16hoursinQ42017;mediantotalresolutiontime(TRT)improvedto10hourscomparedtoover11daysinQ12018and41hoursinQ42017;Tier4applicationsaretypicallyprocessedandapprovedinlessthan6hours,Tier3verificationsinunder1hour,Tier2inunder15minutes;andonly2complaintsfiledwiththeCFPB,downfrom17inQ12018and3inQ42017.InQ42017throughQ12018,clientsupportwasconfrontedwithmanychallengeswhichwefacedanuphillpathtoovercome.Thechiefchallengewasaccommodatingtheunprecedentedinfluxofnewclients.Ascryptocurrenciesappreciatedparabolically,thedemandtotradeonourplatformsharedthesamemassivegrowth.Thissetthestageforthreespecificchallengesforourteamwhichresultedinticketbacklogsandlongwaittimesforaccountverificationandsupportrequests:

ourtradingengineatthetimehaddifficultieshandlingthehightradevolume;andourfiatfundingpartners,alsounpreparedfortheexplosionindemandbecameabottlenecktoresolvingissuesourspecialistscouldn’tkeepupwithnewaccountverificationsandincomingsupportrequests.Thecurrentvolumeofticketstooursupportqueueismoderatecomparedtopriorquarters.Wehaveseenashiftinfocusoftradingsupportticketsasclientsseekeducationonourplatformratherthanofferingtheircriticisms.Whilethesurgeisbehindusandwaittimesaredramaticallyreduced,afewofthethingswe’vedonetobebetterpreparedforthenextwaveinclude:

theintroductionofanewtradeenginethatwillbeupgradedandmaintainedonaregularbasis;addingnearly200security-mindedandknowledgeablespecialiststoourteamsincethebeginningoftheyear;increasingthenumberofspecialistsonlineatanygiventimetoenhanceoursupportcapabilitiesacrossallgeographicregionsandtimezones;re-introducinglivechattoinstantlyserviceclientrequestsstreamliningverificationsandmultiplebackendprocesses;andhelpingourfiatfundingandotherserviceprovidersoptimizeprocesses.KeyPerformanceIndicators(KPIs)&Accomplishments

Overthelastquarter,wehaveseenadeclineinnewticketrequeststo133,671comparedto505,509inQ12018.Despitethisdecreaseinticketvolume,wehavecontinuedtobolsterourrecruitingandtrainingprogramssuchthatourservicecapacitynotonlydwarfsthecurrentneed,butwillsooneclipsethehighestvolumedaysofQ32017andQ12018aswell,ensuringthatwecanprovideimmediate,personalizedservicewellintothenextbullmarket.Krakencontinuestotrainhighlycapablespecialistsforthegroupsinwhichweexperiencedthehighestvolumesofbackloggedrequestsearlierin2018.WedothiswhilestreamliningprocesseswithinourSupportCentertoallowspecialiststofocustheirattentiononclients’needs.InMarchofthisyear,were-launchedourlivechatplatforminordertogiveourclientsanimmediateserviceexperience.Sincethisinitiative,wehaveseenlivechatgrowto39%ofoursolvedtickets,withthenumberofchatengagementseachmonthgrowingfromunder5,000toupwardsof13,000aswecontinuetoincreaseourcoverageofsupporttopicsandincreasethesizeofourchatteam.Inordertokeepupwiththedemandofthisservice,wehaveexpandedcoverageto24hoursadayonweekdays.Theabilitytodelivertop-quality,real-timeservicetoourclients24/7viaconstantchatavailabilityissomethingwehopetoachieveinthecomingmonths.Q22018KPIComparisonAgainstIndustryBenchmark

Source:TheZendeskCustomerServiceBenchmark(FinancialServices)

Whencomparedagainstindustrybenchmarks,ourClientServicesteamoutperformsthebenchmarkineverycategory,whilehandling30xtheticketvolume.TrailingTwelveMonthTrends

Highestdailynumberoftickets:18,388ticketsonJanuary3,2018Highestdailynumberofnewaccounts:71,055onJanuary3,2018Topfiveticketcategories,respectively:Verification,GeneralQuestions,FiatFunding,AccountAccess,andCryptoFundingTopfivelivechatcategories:AccountAccess,FiatFunding,Verification,GeneralQuestions,andTradingNearly700,000accountshavebeenverifiedonourexchangeoverthisperiodLanguageCoverage

Ourdiverseclientsupportteamisdistributedglobally,with15+languageproficiencies,offeringnativelanguagesupporttothemajorityoftheworld.Theabovemap(darkerblue)highlightslanguageproficienciesfornations’officiallanguagessupportedwithinourClientServicesteam.SelectClientFeedback

Thefeedbackbelowhasnotbeenalteredexcepttocorrectgrammarandredactanypersonalinformation.

IwouldliketothankyouguysforprotectingmyinvestmentinKraken.Ifyoudidn’tfreezemywithdrawalssomeonewouldhavestolenallmymoney.IwillalwaysrecommendKrakentoallmyfriends.Thankyou.

Ididnothavetowaitforareplyandwaspracticallyhelpedonthespot.Within15minutesmyissuewassolvedandIcouldusemyaccountagain.Greatwork.

Supportisalwaystopquality.UsuallyIgetfastrepliesandanswerstomyemails.Problemsgethandledinaprofessionalyetheartfeltmatter.Ireallyfeelthepeopleinsteadofjustaformal‘customerservice’.Youguysmusthaveafunandprogressiveworkfloor.Thanks.

Ineverhadsuchapositivefeelingaboutahumanontheothersideoftheweb?Youhelpedalot,andyoudoitwithstyle.Ifevereveryoufindyourselfin,pleaseletusknow,mywifeandmewouldbetrulygladtohaveacupofcoffeewithyou.Ineverwrotesomethinglikethisto“justsomebody”Ihopeyoudonotmind..

10/10KrakenhasbeenbyfarthebestexchangecustomerserviceI’veeverhad…Honestly,KrakenhassomeofthebestcustomerserviceI’vereceivedonlineperiod.

IhavebeenverysatisfiedwiththesupportandquickresponsesIhavereceivedfromtheteamandwouldliketonotethatincomparisontomyexperienceswithotherexchanges,Krakenhasbyfarandawaybeenthebest.

I’mgladIchosetouseKrakenasacryptoexchange.ThiswasnotmyfirsttimewhenIreceivedthesupportfromthesupportteam.Idon’tknowhowyoudoitbutbothtimesIhadthefeelingthatthissupportisreliable,personalandeffective.I’mnotworriedatallifIneedsupportwithmycryptosbecausetheproblemsaresolvedsoeasilyandsmoothly.

TrendsinSupportIssues

Asthecryptocurrencyecosystemcontinuestogrowandevolve,phishingattacksandattemptsatcompromisingyouronlineaccountsaresimultaneouslyincreasinginfrequencyandevolvingintheircomplexity.

ToensurethatourKrakencommunitydoestheirbesttokeepthemselvesandtheirKrakenaccountsassecureaspossible,weofferthefollowingadvice:

FollowSafeBrowsingPractices:DonotuseGoogleSearchoranyothersearchenginetolocateoursite.MakesureyouareonlynavigatingtooneofourtwoofficialKrakenwebsiteURLs:https://www.kraken.comorhttps://trade.kraken.com

Tip:BookmarkthesetwoURLswithinyourinternetbrowserandusethosebookmarkedlinkswheneveryouwanttoaccessoursite.

Readmoreinour2016warningaboutphishing.

EnableAccountSecurityFeatures:AllKrakenaccountholdersshouldsecuretheiraccountbyutilizingouravailablesecurityfeatures.Protectingyouraccountwithtwo-factorauthenticationisrecommendedforallusers.Learnhowtosecureyouraccounthere:

https://support.kraken.com/hc/en-us/articles/201396837-Securing-Your-Account.

Rememberthatit’salsoimportanttoprotectyouremailandmobilephoneaccountsashackerswilloftentrytocompromisethoseasawaytotakeoveryourcryptoaccounts.?Weencourageeveryonetore-readourblogpostfrom2016onmobilephonesecurity.

BewareofSocialEngineeringAttempts:IfyouhavebeencontactedbyanyoneclaimingtobeaKrakenSupportRepresentativeandareunsureaboutwhetherornotthatcontactwasmadebyalegitimateKrakenemployee,navigatetowww.kraken.comtoopenasupportticketviaourSupportpageorimmediatelycontactaLiveChatSupportteammember.

AtthistimeKrakendoesnotofferphonesupport.AnyadvertisementofaKrakensupportphonenumberisassuredlyascam(whichwewouldappreciateyoureporting).

GoalsforNextQuarter

AmoreintuitiveSupportCenterandregularlyupdatedguidearticleswillallowclientstomoreeasilyfindanswersontheirown.IncreasingthesizeofourchatteamwillmeanthatclientswhoneedtheassistanceofaninformedspecialistwillexperienceanearlyseamlessandimmediatetransitiontolivechatfromourSupportCenterorhomepage.

Weaimtocontinuetodeliveringexemplaryservicetoourclientswhile:

maintainingsolved-to-newticketsratiowhileminimizinganybacklog;improvingsatisfactionratings(ourcurrent94%isgreatbutwewanttodoevenbetter);improvingfirstresponseandtotalresolutiontimes;improvingthelivechatsupportbyaddingmoresupporttopicsandincreasingthetimezonecoverageoflivechatspecialistsfor24/7support;increaseoureffectivebandwidthbytrainingmorespecialistsinabroaderrangeofsupporttopics;andimprovingverificationtimesforTier4to2hours,Tier3to20minutesandTier2to5minutes.Giventhislistofgoalsforthenextquarterandbeyond,wearelookingtoexpandandstrengthenourteamtoachievetheseambitions.Specifically,weencourageapplicantswhocanfulfillourneedsfordiversetimezonecoverageandlanguageproficienciestoapplytoourgrowingteambyvisitingourCareerspage.

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