Customer Journey

Our team has deep expertise in the end-to-end lending and payments customer experience, garnered over the past 20 years across the markets we serve. We have helped clients design and implement optimized customer journeys to create a virtuous circle to benefit all parties involved.

How we approach customer journey optimization

Initially we gather a 360-degree view of the current journey from leadership, the team executing the process, customer feedback and stakeholders indirectly involved (such as third party suppliers). This overview allows you to go deep in the following areas to optimize your customer journey.

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  • Customer Journey Mapping – Finding Improvement Areas

    • Map out customer touch points, including process handoffs
    • Analyze complaints and highlight the points on the journey these were raised and/or the point of failure in the process.
    • Use call listening to document and better understand the verbal touch points with the customer.
    • Review the end-to-end flow and identify opportunity areas for improvement.

  • Implementing Improvements

    • Prioritize the identified improvement areas based on effort and impact and secure the appropriate sponsorship and resources.
    • Define what success will look like in terms of specific measures to monitor during the change process and post implementation.
    • Build measures into core targets for the team involved.
    • Track progress closely; celebrate and build on successes to create momentum and cultural change. 

Observed Trends for Complex Journeys (e.g. Mortgage, Auto Loans)

  • Common opportunities
    • Removing unnecessary hand offs
    • Reducing cycle time - minimize delays and bottlenecks
    • Optimizing risk appetite by channel
    • Streamlining and de-duping multiplicity of monitoring/ compliance checks
  • Common sources of delay or over processing
    • Availability of appointments for advice
    • Chasing documentation (ID, proof of address, proof of income, executed documentation)
    • Queries and correspondence from/ between solicitors
    • Unintended loops within work queues/ processes

Observed Trends for Less Complex Journeys (e.g. Unsecured Loans, Credit Cards):

  • Common Opportunities
    • Decisions that could be automated
    • Opportunities to push work rather than pull
    • Eliminating hand-offs and bottlenecks
    • Building a better understanding of exceptions with a view to eliminating through policy clarity or other process enhancements
  • Common sources of delay or over processing
    • Exceptions that could be decisioned at point of entry if policy was clearer
    • Miscommunication between departments
    • Reliance on items being ‘pushed’ to the next stage and mistakes in this causing delay
    • Delays in paperwork being sent/ received
Clients who have optimized their customer journey reduce costs, gain efficiency, and increase customer loyalty
  • 20%+ process efficiency gains
  • Reducing complaints and associated costs
  • Preventing drop outs, reducing lost revenue and overall costs of acquisition
  • Stimulating growth through customer advocacy and brand loyalty