DIGITAL CUSTOMER EXPERIENCE ENHANCEMENTS FINANCIAL SERVICES PLATFORM

This Financial Institute manages a loan solutions portfolio of over US 15 Bn. helping private sector companies with their financing needs varying from working capital to long term investments.

Situation - In 2019, it was decided to digitize all client life cycle stages, including client/project eligibility screening, loan application acceptance, disbursement, and repayment. 

After the platform activation, both client representatives and internal users have been facing challenges since the introduction of the platform. 

Solution - The solution included a comprehensive 360° assessment of the client journey, core and supplementary processes, internal policies, platform, organization, and strategic alignment. Secondly, a strategic roadmap was developed encompassing short, mid, and long term customer experience enhancements and customer centricity initiatives. Phase three of the solution included implementation of the identified quick wins and short term enhancements.

eMs Approach - Between 2020 and 2021 - together with local consulting teams - Taco Nieuwenhuijsen led two enhancement projects. 

Project 1 (3months):

Stage 1: By means of internal stakeholder interviews and a heuristic CX/UI evaluation - including a heuristic CX/UI review of the complete client platform journey - the situation was mapped and an initial assessment of the current status was made. 

Stage 2: Consisted of the fieldwork strategy implementation design and identification of initial bottlenecks, business process gaps, root cause analysis, and generation of quick wins.

Stage 3: Client focus groups, quantitative client journey assessments, and internal user workshops, issue prioritization, opportunity identification by means of mind mapping, root cause hypothesis cross-analysis sessions with all stakeholders.

Stage 4: The final stage included conclusions, the road map articulation, client presentation, and documents handover. 

Project 2 (5 months):

For 5 months we worked very closely with an internal project team and internal stakeholder champions through all phases of both tracks. We managed the project (e.g. project charter/WBS), provided all frameworks and templates, and followed up on the internal inputs by means of online sessions (PT/PMO/SC), digital forms, templates, etc.

eMs Contribution

• Over 35 quick wins identified during the course of the project

• An 800+ page assessment of the internal and external environment, root cause analysis, conclusions, etc.

• A roadmap encompassing 35 short term UX improvements

• 32 mid term business enhancement programs bundled in 7 business cases

• A long term customer centricity strategic outline

• A complete new client portal front end design, including enhanced interfaces and procedures 

• Client scenario-based journeys, improved business processes and SOPs, and reduced risk

• An operational client journey database containing detailed content for each phase, content/process ownership for consistency and journey maintenance

• Two detailed project plans with budgets, timeframes, WBS, incl. track owners, contributors, etc.