BACKGROUND

Our tier 1 bank client, faced with a cost challenge required a strategic Enterprise Content Management (ECM) capability to significantly reduce paper costs and improve the Customer proposition to receive, print and store digital correspondence (statements and customer letters) in line with legal and regulatory requirements.   They needed to expand their capability for sending digital correspondence safely and securely to Customers.

APPROACH

The approach taken was to first identify the real cost of printing, sending, storing and distributing paper. We then worked to understand the Customer Journeys driving these costs and carefully mapped these journeys right the way through from beginning to end. We then identified a strategic architecture that could facilitate the digitisation of these customer journeys. We secured funding on behalf of the Client through provision and sponsorship of a compelling business case and delivered these business case outcomes. We leveraged this technology prioritising Customer Journeys with the highest paper costs. We created a multi-skilled, highly capable team of SME’s working within an agile, scalable, delivery model adopting principles of stop, simplify, digitise, constrain when prioritising backlog items.

DELIVERABLES

Our deliverables included:

  • Delivery and integration of strategic ECM technology to facilitate outbound paperless communications
  • Following robust customer research and analysis we were able to influence an FCA policy review into our digitisation plans and subsequently progress with these plans demonstrating they were in line with legal and regulatory requirements

Detailed approach to Customer Journey Mapping which can now be adopted to support simplification and automation

IMPACT

  • Increased volume of customers able to view save and print correspondence digitally from 50 – 75% through provision of this capability on mobile app
  • Reduced cost of transactional print (statements and correspondence) by 20%
  • Will have delivered total cumulative cost saves of £19m between 2017 and end of 2020