Large UK retail bank
Delivering remediation solutions and support for a large UK retail bank: delivering data to support complaints handlers, analytics to drive strategic direction and end to end customer management solutions to enable a semi-automated remediation process.
The 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.
- Data investigation, modelling and provision to front line staff allowed the Client to process the large volumes of complaints and queries accurately
- Provision of a full end to end solution allowed the Client to process a complaint through to payment, with minimal staff intervention
- Sourcing, analysis and cleansing of data from multiple (internal and external) systems shortened the lead time for complaints validation and vastly improved operational efficiency
- Analysis on data from multiple systems and customer segmentation allowed the Client to pro-actively identify and pay redress to customers that had been at clear detriment, without the need for the customer to raise a complaint
In order for the Client to understand how to address customer complaints consistently, fairly and correctly, Sopra Steria sourced and modelled 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 fed into customer facing solutions (complaints handling, payments, letters, etc.) as appropriate.
Sopra Steria also built the CRM systems for two large remediation projects, for multiple pilots and smaller projects for the Client. Value add services that Sopra Steria provided to the Client 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)
- Business rules application and automation with bespoke CRM applications
- Payment and reconciliation via CRM applications
- MI and other ad hoc reporting
- Solutions testing and audit reviews were undertaken to ensure compliance standards were put in place, given the close regulatory focus
In addition, Sopra Steria provided management and advisory consulting across the remediation and conduct programmes, both of which sought to embed a true customer focused culture across the Client and fully address the pain points and failings of customer experience.
How we work together
Sopra Steria has a longstanding relationship with the Client, spanning over 10 years. This relationship is built on trust and a partnership approach.
Sopra Steria 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. Our solutions helped ensure the efficient use of resources and technologies, as well as the rapid deployment of solutions directly aligned to the objectives of the executive sponsors and Bank’s senior management.
Results and benefits
Over the course of this 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