Introduction
A win-win problem to solve!
Focus for this initiative was to enable customers to update their information seamlessly across both mobile and web platforms, ensuring compliance with the OSFI mandate. This was critical in addressing one of the most significant customer service challenges, where calls related to information updates typically lasted 10-15 minutes. By reducing this call time, the bank aimed to achieve substantial cost savings while enhancing the overall customer experience.
WELCOME, APP USERS!
Expanding this capability to the mobile channel aligned the bank’s digital offerings, providing customers with a consistent and intuitive experience across all platforms.
GETTING IT RIGHT...
A key technical challenge involved transitioning the customer information update process from virtual call centers to digital channels. Rigorous testing was required to ensure that updates were correctly processed and accurately reflected in the new experience, thereby maintaining the integrity of customer information.
Project snapshot
Business expectations
- Enabling information update for mobile channels to comply with OSFI mandate
- Address one of the primary and most time-consuming customer service issues by reducing call durations
Customer goals
- Enhance and streamline the profile update process across mobile apps and web platforms
- Minimize the cognitive load for both new and existing digital customers by simplifying the user experience
Product strategy
- Foster alignment among cross-functional stakeholders for early feedback
- Launch a Minimum Viable Product (MVP) in the first phase, with planned enhancements for future development
Impact
- Projected 5-year benefit of significant cost savings, estimated in ~$$ M
- Achieved a month-over-month reduction of approximately ~55K mins in customer call times