Large payment-processing fintech,
operating across UK and Ireland
Client Goals
- Innovate new products and services
- Nurture function towards customer centricity
- Create an identity within wider corporate structure post-merger
Context
The client recognised that they had a challenge, but was unsure of how to approach.
Following a merger/acquisition, R&D had been centralised and a shared services model introduced. This had reduced innovation and smaller operators were beginning to take market share.
Challenge
In the previous 18-months, the client had been merger with a larger fintech organisation. As part of this, several core functions had become centralised across the business, reducing control and influence within those shared services.
Operational focus was on improving customer experience through contact and field sales efficiency. But with limited resources and an unclear understanding of where to begin, progress had been slow.
Approach
In creating an innovation culture, we first examined the senior leadership team, their relationships, and their day-to-day working practices.
This identifed opportunities for building cross-function sharing of vulnerabilities and successes – particularly for comparible approaches within the individual departments in the wider function.
The remdial activities included:
- Leadership development course, utilising psychometric assessment to build inter-team relationships
- Recommendations for approaches to reward & recognition, Internal Communications governance, sales incentives, and team manager development
- Refocus on drivers of customer experience, linked to TrustPilot review performance
Results
People
- Nurtured customer-focused, innovation culture
- Created new purpose and direction within senior leadership team
- New experiential sales incentive methodology introduced
Profit
- Increase in Trustpilot reviews from 3.2 to 4.6
- Net Promoter Score improved by 8 %age points
Planet
- N/A for this project