Delivering remediation solutions and support for a large UK retail bank

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Our client’s remediation programmes required significant and rapid scaling in order to correctly process the many thousands of complaints received per week for PPI and 3rd party insurance products. The client needed robust data to support both the identification of products held (going back over 20 years) and calculation of redress due, in line with the FCA’s guidelines.

The challenge

In order for the client to understand how to address customer complaints consistently, fairly and correctly, we were tasked with sourcing and modelling the requisite customer data into a consistent format and model (i.e. data marts) –allowing the client to have a holistic view of the problem and a historic lineage of customer interaction with the products. These data marts were then to feed into customer-facing solutions (complaints handling, payments, letters, etc.) as appropriate.

The solution

We have a longstanding relationship with the client, spanning over 10 years. This relationship is built on trust and a partnership approach.

Our consultants worked alongside the client’s senior management to support its remediation and conduct programmes, undertaking an advisory role at all relevant programme board meetings. These consultants were able to effectively challenge and provide alternate solutions as appropriate, and ensure a robust governance framework was adopted. By having a holistic view of the board objectives, we were able to help the client do more with their current pool of Sopra Steria resources.

Therefore, in addition to handling the client’s customer data and presenting it consistently – helping the client to address customer complaints better – we also built the CRM systems for two large remediation projects, and for multiple pilots and smaller projects. The value-add services we provided included customer identification and segmentation, analytics and forecasting, calculations of redress in line with FCA guidelines, data enrichment, policy advice and governance standards, process design (data and operations) and more.

The results

Over the course of our engagement, many results and benefits were reported:

  • The client gained the ability to process large volumes of complaints across multiple
    locations – UK and offshore
  • Significant improvements to complaint handling times were achieved by providing appropriate customer and product data – ensuring that customer contact timescales, dictated by the FCA, were not breached due to a lack of information or errors in the process
  • In customer redress measures, the client was able to move from being reactive to pro-active
  • Manual data entry into various solutions was reduced, enabling approximately 50 FTEs to be redeployed to more value add operations
  • Pilots and smaller projects were turned around in weeks, rather than months, due to our use of agile methodologies, allowing the client to rapidly respond to market and regulator demands