Change management optimisation at a UK retail bank
The issue
- Unprecedented customer growth & branch expansion coupled with focus on improving service delivery and customer satisfaction placed pressure on our client to deliver greater and more complex change
- A need to improve the architecture and governance of business process change
- To ensure change management is ready and optimised for successful delivery of current and downstream change demand
- Rapid growth brought complexity & uncertainty
- There was a need for tightly defined governance mechanisms supported by a standardised way to adhere to change
What we did
- Designed framework for a multilevel business change process architecture to facilitate effective governance
- Translated the framework into a new change management model with new working practices & Balanced Scorecard
- Consistent communication and deployment in line with organisation’s need
The results
- Building blocks in place for bank to deliver its growth strategy securely
- Reduced change backlog
- Change management framework to drive sustainable change and maximise results implemented across bank operations
- Agreed metrics/KPIs at selected organizational levels including baselines and targets
What our clients say
“As a result of Curzon’s support a strategic and digital leap has been made in how we manage the entire asset lifecycle to transform our Developer Service experience. This is a programme and a product that sets a new benchmark within the industry.”
Jason Tucker
Director of Alliances & Integrated Supply Chain, Anglian Water
An award-winning team
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Improving customer satisfaction at a leading retail and commercial bank
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
What our clients say
“As a result of Curzon’s support a strategic and digital leap has been made in how we manage the entire asset lifecycle to transform our Developer Service experience. This is a programme and a product that sets a new benchmark within the industry.”
Jason Tucker
Director of Alliances & Integrated Supply Chain, Anglian Water
An award-winning team