The Challenge
Barclays Bank was already benefiting from the ways that digital banking created efficiency across many of their customer engagement operations. The case for online and mobile app channels for customers to engage, perform transactions and conduct servicing actions was clear: customers who had a good relationship with the bank and were good at managing their finances were happy to use the channel. This in turn provided a more cost efficient operation to the bank than branch or telephone banking. The question was raised, could this also be made true for customers who were in financial difficulty, and for whom the bank had to provide a costly labour-intensive collections operation?
Barclays Bank were already aware that customers who fell into arrears also fell out of using their digital services, which were just not set up to help them through the steps that they needed to take. Barclays realised that they needed a new kind of digital experience, one that complimented the collections team’s operation and could help a customer make the right choices to resolve their debt.
The Solution
Our digital banking platform was the natural selection to meet Bank of Ireland’s needs, having already proven to be the best fit for their requirements:
1 – An innovative, high-availability and high-volume digital banking platform already live for other high volume credit card providers.
2 – White label native Android and iOS mobile apps with ready-to-deploy credit card functionality for multiple brands from a single deployment.
3 – Services already successfully integrated and live with TSYS back office systems for other clients.
Beyond the technological requirements, the solution had to deliver two high quality experiences that met the brand compliance for two very different organisations, where customer engagement is a key part of their overall proposition.
The Outcome
Run as a single project, we deployed both The AA and Post Office Money branded mobile apps for both Android and iOS. Benefiting from our experience with white label platforms, Bank of Ireland successfully deployed two completely differently branded mobile app channels from a single implementation.
After launching the service, the Head of Acquisition & Proposition Development at Bank of Ireland UK said, “Having Interact will enable us to provide our customers with a market leading digital experience.”
Since launching our digital platform, adoption increased and the apps have become the dominant channel of choice for customers. Customer satisfaction increased, as well as the usage of the credit cards themselves, increasing transaction volumes as well as the overall size of the book.
