Creating a ‘simply brilliant’ savings experience
The Challenge
YBS was suffering with an ageing customer base and declining savings balances, struggling to shake off the perception of Building Societies being 'old fashioned'. The new CEO made it clear that YBS needed to make it easier for customers to start saving with them. We worked with the YBS team to do just that, co-creating with customers and colleagues to design a new, 'Simply Brilliant' savings experience.
Services: Customer Journey Mapping, Customer Experience Innovation
The Impact
12
12-point annual rise in NPS
18
18% growth in savings book
72
72% drop in account opening time
The Outside-in Perspective
We visited 15 YBS branches nationwide, hearing directly from customers about what mattered most to them and observing their interactions. We then spoke to colleagues about their part of the experience, and what they perceived as getting in the way of them creating a great experience.
The Insight
Colleagues felt disempowered by complex procedures and red tape. With this fear of compliance, many lacked the confidence to open Savings accounts. This meant only the most experienced would speak to customers, leading to long wait times to book an appointment with someone willing and able to help.
The Solution
We co-created a combined customer and colleague journey map with customers and colleagues in the room. This led to a new training programme for branch staff and a new process that reduced the account opening time from 45 minutes to 13 minutes.
“The Foundation are a delight to work with, ‘always on’, and have the ability to effortlessly combine strategic, analytical and creative thinking.
They demonstrate a commanding grasp of customer experience and consumer behaviour in a way which is accessible to any audience. The team truly listen to their clients, personalising the approach to deliver a solution which is credible and workable.”