The issue

  • Continuing declines in NPS and CRI scores across retail and commercial customer bases
  • Board’s ambition was to achieve market-leading customer recommendation levels
  • Ongoing customer service challenges driving up customer dissatisfaction ― but unclear as to true extent and causes
  • Big gaps between customer expectations and delivery
  • True extent of customer dissatisfaction not identified or addressed, and NPS surveying not used to mine for triggers. 40% of customers thought they had complained vs 4.5% recorded
  • Reality was 45% of customers who’d formally complained were dissatisfied with complaint resolution, making them far more likely to churn (62%)

What we did

Designed & executed a pricing, product and service migration of all policyholders to one new modular product

  • Worked across retail and commercial banking operations to understand and map impacts of service failures and complaints response on NPS and CRI scores
  • Identified biggest linkages between types of service failure, quality/ timeliness of complaint resolution, and the creation of Detractors
  • Surfaced major under-reporting of complaints and inaction where known detractors continued to be detractors
  • Developed set of targeted remedial actions to apply at point of service failure or complaints to prevent creation of detractors or convert them into neutral/advocates, minimising risk of eventual lapse
  • Defined how to cost-effectively and proactively pinpoints and stop service failures occurring
  • Designed operational changes in four customer management areas across Retail & Commercial Banking to reduce service failure and complaints volumes and costs

The results

  • Recommendations agreed by both divisions
  • Transition plans delivered
  • ExCos in implementation
  • Reported improved NPS & satisfaction rate scores
  • On-target run-rate cost reduction benefits

An award-winning team

Curzon consulting mca finalist 2019


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