Key results

• c.£75 million retail bank revenue impact annually
• Reduced completion times with meaningful data capture and automated follow up actions
• Could easily integrate with their video meeting platform

Background

A major UK bank’s existing Financial Health Check initiatives were fragmented, siloed, and suffered ageing and overly complex processes, causing issues such as:

• Unnecessary data capture leading to friction within the journey
• Too many closed questions which were not always relevant to customers
• No digital handoff or integration leading to a disconnected CX, also lacking automation making follow up actions more difficult

Overall, this impacted both customer and agent experiences leading to missed opportunities.

How we helped

Davies delivered a SaaS application to run on desktops or iPads (for face-to-face meetings), with several key features:

• A personalised, engaging user experience, with dynamic decision tree logic, designed to significantly reduce the number of on-screen questions (and increase their relevance) and easier capture of goals and key facts with minimal effort
• Integration into other applications automates follow ups with reminders ensuring that the information captured is used effectively, whilst saving advisers’ time
• A summary of options presented, and any follow up actions is delivered to customers following completion

Results

This solution continues to be a highly valued application for the bank, covering a critical element in managing the relationship with its customers. The initiative created a slick, user-friendly, solution that advisers love using to easily capture relevant information.

The flow allows for dynamic conversations (not prescriptive ones) whilst capturing follow-ups into relevant downstream systems and activities to ensure the interaction is preserved and acted upon. It streamlined previously fragmented and siloed operations, whilst creating a visually appealing, best practice data capture process. Time spent with customers presents the bank in a professional and competent light, encouraging customer advocacy and loyalty.