UK Financial Services Case Study

2 Min. Read

Building a Customer-Centric Culture

Finamcial services 5

The Business Challenge

A new CEO joined the organization with a strategy to become “less bank more retailer” which would involve a significantly improved customer experience, a more sophisticated approach to customer segmentation including risk profiling and a refreshed product portfolio.

Our culture diagnostic found while colleagues had customers in their consciousness, they were not supported by customer-friendly systems and processes and were suffering from under-investment in tools to do the best job for customers. We also found innovation and change orientation was suppressed by a heavy hierarchy and a pattern of risk avoidance, caused by many years of top-down decision-making and playing it safe which had affected confidence to act.

Bottom Line

Colleague-centricity and customer-centricity have now emerged as twin strengths of our client’s culture.

Outcomes Achieved

40% improvement in colleague perception of the bank’s level of Customer-Centricity.
81% of frontline colleagues favorable
about the Colleague-Centricity of the bank’s culture.
82% improvement in colleagues perception of risk-taking and treating mistakes as learning.
62% improvement in how people spoke about colleague-leader relationships.
48% improvement in feelings of empowerment

Workstreams

Target Culture Mapping.
Culture Assessment (2019).
Culture Blueprint and Culture Plan development.
Capability Build (for P&C, transformation leads).
Large scale culture activation events for all colleagues.
360 for all leaders.
Leading By Example program for Top Team including 1:1 advisory, observation and team workshops.
Group coaching and intact team sessions for Top 200.
Mindset Modules for people managers, train the trainer and further self-facilitated culture workshops.
Culture Assessment re-test (2021)