Project Summary
Benefit Description
Benefit Value
UK Bank - account opening review
Customer experience / Productivity gain
Reduced account opening time from 21 to 6 days through removing waste and automating the process.
3rd party supplier spend review
Cost reduction
Identified and delivered £1.2m of annualised savings from reducing volume-based spend with suppliers
Back office productivity review
Cost reduction / Productivity gain
Delivered £600k of annualised savings through improving productivity metrics and management capability
Available balance self-service functionality
Customer experience / Cost reduction
Delivered £200k of annualised savings through delivering enhanced self-service functionality. Reduced balance enquiry calls by 28%
Internal Virtual Adviser
Customer experience / cost reduction / employee engagement/ productivity gain
Reduced Average Call Handling time by a weighted average of 35 seconds per related call, reduced adviser error rate and repeat calls, improved employee engagement , risk avoidance and compliance. Net benefit £2.1m over 3 years
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