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3%
We’ve established a long-term partnership with this client, helping them to not only grow each proposition, but develop them out into different
countries too.
Over 600 branch staff trained to use the platform
Increased applications for a particular current account, which was needed to get the savings account with the highest interest rates
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At the start of the project, our client had a vision of what they wanted, but not a set-in-stone concept. So, we worked together in this manner to make this idea a reality. Subject matter experts from our team and our client’s team worked together to decide what the end solution would look like. It included UX, Product, Development and Technical teams from both sides. At each stage we had high-level requirements. We drew up an agreed methodology so everyone was clear on how it would work. Our sprints were two weeks long, with targets at each stage. It was a new way of working for our client, so we were able to help them throughout the process.
We automated our client’s savings and investment advice processes using our digital advice technology. The solution lets customers find answers about their savings habits and investment choices, presenting the right product or account for their individual situation. Customers put in their data and get accurate advice on how best to invest, thanks to our robust algorithm. They can also use the financial health check tool to see areas of their finances they should concentrate on the most, like paying off debt or setting up life cover.
Savings advice time was reduced by 90% while investments advice was reduced by a several hours, allowing staff to spend better quality time with customers. Branch staff were engaged and motivated, and all were empowered to help their customers find the right answer.
Savings advice time cut from 30-45 minutes meeting to 3-4 minutes process
Investment advice time cut from 4 hours to 20 minutes (plus an hour meeting)
17 customers went through entire journey and advice approved without changes
Our client was keen for us to become ‘one team’ while working on this project, so for every role they had, we had an equivalent. We achieved this level of collaboration, and still work closely together post-project.
Benefits
As we were following an agile methodology, we had to be collaborative. The nature of the project meant our client couldn’t issue full specifications up front, so we needed a flexible approach to let the project develop. We could flex what the client wanted in each sprint which also meant we could make adjustments as priorities changed.
Our client knew how they wanted to give advice, so we used our technology to build it. Combining different elements, our ‘digital advice platform’ stitches the entire process together.
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No limit to growth
Solution
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4,500
3 Hours
The challenge
Tim Jablonski
Product Director, EValue
90%
Our client increased speed-to-market, they didn’t have to put any complex calculations into the front-end, and they had no need to use internal resource on testing. The business is now about to expand into further territory with a similar solution tailored for the local market.
Enabling digital transformation
Using APIs to grow
90,000 - 100,000 calls a month
Creating long-term partnership
3%
At a glance
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Solution
Copyright © EValue Ltd 2019. All Rights Reserved.
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Using our technology to deliver automated online savings and investment advice
After
The compliance team had a particular advice process to implement, so they told us what advice they wanted to give and in what stages, as well as the products they wanted to incorporate. We then helped them build this into the online journey.
We made the solution bespoke to our client’s brand and advice process. We included the questions they wanted to ask around advice (which were specific to their company), the data they wanted to collect, the products to recommend and the specific advice journey.
The APIs have around 90,000 – 100,000 calls every month. As the team now know how to use our APIs, they can expand it globally very quickly. The only limit to their plans are internal resource and availability. As our client’s proposition grows, in terms of different offerings, our APIs will be able to support them. Currently they look at accumulation, though have plans to include decumulation too.
90% reduction in savings time
Contact us
Call us
This large high-street building society needed to streamline how customers access its financial planning advice. The existing process was onerous and manual, and only a limited number of staff members could help customers by providing advice. This was delaying efforts to improve customer experience and limited how many people could access advice services. To make the project a success, it was important that staff were able to go through the process easily.
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Our client is embarking on a digital advice transformation and using our components to fit into the gaps and solve the challenges they come up against. We’re providing the parts to help them make this happen.
4,500
90%
An agile methodology
Building an end-to-end digital advice platform for use in-branch
4,500
only
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The Benefits
600
investigative sites will under-enroll2
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1/10
Increasing speed-to-market and the ability to scale globally
The simplicity and ease of using our APIs were key to this project. Our consultancy period was between January and March, and by April the team knew how to use our APIs. This gave them the freedom to scale and grow their offerings.
1/4
Copyright © EValue Ltd 2019. All Rights Reserved.
of patients are aware
of clinical trial options3
Background
A long-term partnership
Increased speed-to-market and the ability to scale globally
Customers can go into the branch and don’t need to book a meeting. They’re given a tablet and enter their details. At the end, they get a recommendation for a savings account or investment journey
For investments, a short one-hour meeting is required to confirm the details and give the advice
The journey is shorter, more convenient and answers everything the customer wants to know. They don’t need to come back another day or book specific meetings
Staff are enjoying the process as anyone can help customers – you don’t need to be a financial adviser to start the journey
There’s a huge impact on capacity and customer satisfaction, with record usage of the tool in branches: 11,900 customers completed the journey in March – up from an average of 2,000-3,000
Senior management have a strong support for digital as they can gather much more MI from customers: 61% of customers now complete surveys post-branch experience.
of adults with cancer are enrolled in clinical trials4
Customers would go into a branch and say they want to open a savings account
Staff would hand over booklets or book a meeting for a 30-45 minute chat to go through the information. No real guidance or help was given
For investments, customers had to book a four-hour session with a financial adviser. In this, the FA would explain the options, do the risk questionnaire, explain the risk and take details.
only
Helping our client learn about our APIs through consultancy work, allowing them to scale up and expand using this knowledge.
The APIs have around 90,000 – 100,000 calls every month. As the team now know how to use our APIs, they can expand it globally very quickly. The only limit to their plans are internal resource and availability. As our client’s proposition grows, in terms of different offerings, our APIs will be able to support them. Currently they look at accumulation, though have plans to include decumulation too.
Solving digital challenges
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A bespoke journey
Case Study
Results
Fact one:
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Sarah Mason
Client Delivery Director, EValue
Our client, a global asset manager, wanted to build an automated advice process that included the explanation and calculation of risk and reward for each investment. They had created various tools and calculators before, but they hadn’t yet given advice in this way.
As well as needing technical help, they were under tight time pressure and wanted to use a robust forecasting solution that was immediately accessible. In particular, they faced issues around finding and using an appropriate Risk Questionnaire. Most came in tool-form, which would have hindered where and how it was used in the journey.
Get in touch
Contact us
Solution
Supplying APIs for a global asset manager's automated advice process
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We gave the client access to our API Portal so the development team could get up and running with the right forecasting. Information was available in multiple currencies, allowing for expansion into different territories. The APIs we supply are for the investment forecast, the risk questionnaire and chance to beat target.
Our client could also overcome issues around Risk Questionnaires. Instead of using a tool, they use our API. They can use it in their journey wherever they want.
After the initial tender process, we gave our client consultancy support and taught the development team how to best use our APIs. We worked with business analysts, project managers, technical teams (including programmers and an architect), as well SMEs in advice, and the proposition owner.
Case Study
1 milion
No limit to growth
Using APIs to grow
investigative sites will fail to enroll a single patient2
Our journey
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15%
4,500
Fact two:
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Background
At a glance
600 branch staff trained to use the platform
Before
A collaborative approach
Benefits
The challenge
THE NEWBURY OFFICE
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THE LONDON OFFICE
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Phone: 01635 881180
Email: contact@ev.uk
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