Context
- A prominent British retail conglomerate, renowned for its diverse portfolio of leading brands across multiple sectors, faced significant challenges during the launch of a new financial services product due to the lack of an existing internal CRM platform.
- Despite a rapidly expanding customer base, the organisation struggled to provide effcient service to an increasing number of queries, particularly those related to customers in arrears. Information was scattered and not easily accessible, creating ineffciencies for customer service teams
Goal
- Establish a structured, proactive approach to engaging customers in arrears through both traditional and digital channels, to improve unmet collection metrics and strained customer relationships.
- Deploy a CRM platform that improves customer service, enhances arrears management, boosts collections, and increases operational effiency.
How FSL made it happen
Tech-enabled
A comprehensive solution was planned to address these challenges, which included the development and implementation of a customised, white-labelled CRM platform tailored to the client’s needs, encompassing the following elements:
- Bespoke CRM Platform: A fully customised CRM system aligned with business requirements
- User-Friendly Self-Service Portal: An intuitive portal for customers to manage their overdue balances at a time of day/place of their choosing
Seamlessly Integrated
- Dedicated Processes for Key Areas: Workflows for complaints, disputes and vulnerable customers to name a few, with document import
- Seamless Integration: Planned integration with core SOR, dialler, email, lettering, and SMS ensuring a unified view of interactions
- Targeted Engagement Triggers: Automated communications planned for customers seven days past due, offering solutions and directing customers to a self-service portal
Personalised Powerhouse
- Personalised Contact Strategy: Tailored communications based on customer preferences (channel, time, and day)
- Real-Time Reporting: A planned system for daily updates on key metrics like open rates, click rates, and cash collected
- Hybrid Data Sharing: APIs and flat files for seamless integration with the bank’s systems