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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