At the outset of this project to transform The Co-operative Bank’s online customer experience, Head of Digital Martin Sheerin was resolute; things go better when you align your organisation with your customers’ needs. Amazing for us to hear! But customer-centricity is hard to enact when teams work in silos – even if you are an ‘ethical’ bank. The bank had also experienced reputational difficulties and our project attracted a lot of internal attention.
Our initial research convinced us that the Co-op Bank had to shift its focus from sales to service. We distilled our findings into a set of three principles which guided the design of a new online banking journey:
Rather than slogans dreamt up by a marketing agency, these principles emerged from the intersection of customer research, the bank’s core values (“Listening and caring about what matters to you”) and the spirit of the FCA’s mission (“...to ensure firms have their customers at the heart of how they do business”).
To deliver an experience which embodied these principles, we knew we would have to bring everyone involved on the journey with us; from commercial, product and compliance teams to senior stakeholders.
In doing so, we exposed the evidence for our customer-centred design decisions and created an audit trail showing that we were acting in customers’ best interests.
By fostering cross-functional working relationships from the start and working with an iterative design method which involved the right people at the right time, we helped Martin build trust between the compliance and commercial teams and gain confidence from the wider business.
During rigorous validation testing of our new journeys, customers - without prompting - used the words ‘transparency, ‘simplicity’ and ‘reassuring’. After launch, the commercial benefits were quickly realised too, with conversions and the Net Promoter Score increasing beyond expectation.
90% Increase in credit card applications
325% Increase in current account page visits
NPS Increased by +5.9 (21 points above expectation)
We've had fantastic feedback from our customers and business, for whom this project will provide ongoing value.
MARTIN SHEERIN, Head of Digital, The Co-operative Bank
Download the full case study
By working with Sopra Steria and cxpartners to overcome the challenges related to Customer Experience, Financial Services organisations can unlock their potential and provide a Customer Experience which truly differentiates them from the competition.
If you would like to discover more about our Customer Experience services please contact one of our specialists below:
Stu CharltonFinancial Services LeadE: email@example.comW: www.cxpartners.co.uk/evidence-based-compliance
Executive Director – Financial Services
We’re delighted that we successfully helped our client create a vision for future services using a human centered design approach to meet their customer and client goals through a 3-year transformation.
In this research report, we highlight and examine the need to adopt a holistic approach on the management, recovery, and mitigation of debt due to the rising cost of living crisis and economic downturn in the UK.
In this research report, we surveyed the preferences and attitudes of consumers towards debt to get an understanding of what consumers want from creditors and 4 actions that creditors can take now to support customers.