The issue
-
Having delivered the ‘brilliant basics’ part of a CX transformation programme, the bank needed to define a digital CX design to deliver a signature, differentiating experience
-
A pressure point was that customers’ expectations of doing their banking anywhere/ anytime/on any device were growing, and the ground had been lost on this to digital challenger banks
-
The bank was also in sharp cost control mode so it was critical that digital CX investment choices were well evidenced, validated and focussed
-
We had to answer the question: where and how to prioritise omnichannel service investment to deliver a competitive digital CX?
-
With many competing candidates for digitising customer service across the existing product portfolio, we had to be clear about what omnichannel improvements would realise greatest value from a CX and commercial perspective
What we did
-
Reviewed draft digital strategy and developed investment prioritisation criteria to focus CX and omnichannel service design choices
-
Defined design principles to guide the development of Omnichannel capability
-
Competitor and cross-sector benchmarking to identify key areas of digital CX differentiation
-
Evaluated and ranked CX/service design options against agreed prioritisation criteria and ability to leverage existing IT capability and technology roadmap
-
Flesh-out of to-be CX/service design with benefit cases supporting the investment priorities identified
-
Produced and validated a sequenced digital CX/omnichannel implementation route map
The results
-
Delivered new digital CX/omnichannel design with 10 key touchpoint changes, each with benefits ranging from £3.5M to £9M annually in a fully realised state
-
Pragmatic, phased change route map adopted, which drove early cost savings and new customer acquisition uplift by addressing highest priority CX pain points, allowing subsidisation of next phases
-
80% of the technology capabilities required to deliver the route map were covered by leverage of existing or planned future (and already budgeted) technology assets and upgrades
