Challenge
Regulatory change leads to customer experience improvement
A major bank had to respond to the newly created Mortgage Market Review (MMR) regulations in the UK market. This significantly changed the requirements for mortgage applications and renewals compliance. They decided to take the opportunity of such a major review to not only ensure compliance but to redesign the customer experience around consumer mortgages, products that had been lagging in some areas. The consulting engagement was focused on the customer processes.
what we achieved and outcomes
Regulatory change leads to customer experience improvement
Achievements
· Cross-functional buy-in to redesigned journeys; employees played persona roles to bring to life in highly interactive workshops
· Captured, actual and ideal customer journeys, formatted to standard templates
· Achieved buy-in to resolve conflicts in service design choices
outcomes
· Revised processes that were not only MMR compliant but improved experience
· Structured documentation of key processes
· Full comparison with best in class comparable and roadmap for development
Customer Base
1.4.M
Journeys Mapped
36
Efficiencies
£24M
Our View
The bank took a compliance requirement to enhance customer experience – a great result.
Get In Touch
01865 699060
welcome@customer-engagement.co.uk