Lloyds Banking Group


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BETTER CUSTOMER COMMUNICATIONS

We’re working with Lloyds Banking Group (LBG) to help them improve their mandatory and regulatory communications. The Group sends millions of updates to their customers each year, each of which needs to be personalised, accurate and timely.

But a reliance on traditional production techniques previously made it challenging, and this could sometimes mean a poor experience for customers. Plus, if regulatory requirements were not met there could be fines and reputational damage.

We've been working with LBG for over six years to develop and implement a better strategy.

A collaborative approach to change

We've worked closely with LBG's marketing, data & IT departments to optimise how we work with them in the following areas:

  • Standardised data processing
  • Data-led document composition
  • Automated multichannel delivery
  • Customer-centric content and visuals
  • Accessible formats.

We also helped roll out the changes across the Group, including an education programme for employees.

"Signal’s expertise has been invaluable in helping us transform how we develop our mandatory and regulatory communications. Working together we’ve taken huge strides in improving customer experience, reducing risk, and streamlining deployment.”

Head of Mandatory and Regulatory Communications,

Group Brands and Marketing, Lloyds Banking Group

£10mpostage and paper savings on a single large scale mandatory campaign.

Significantly better banking

LBG has saved both money and time as a result of the improvements - with £10m postage and paper savings on a single large scale mandatory campaign, for example.

The benefits for customers have also been significant. We can now send clear, concise and timely personalised communications, using the customer's channel of choice. Our work even won Best CX Innovation at the Financial Services Awards, 2017.

The details:

Centralised data processing

We've given LBG a single customer view across hundreds of products, through intelligent use of data and aggregation at customer level. This has enabled access to the right data at the exact time it's needed.

For example, we aggregated a change notification that affected 54 million accounts into 30 million packs.
This lets customers know all the changes
to their accounts in one pack.

Data-led Document composition

We've helped LBG bring together data and content so they can create communications tailored to each customer's circumstances. By using pre-defined templates, we can quickly and easily apply a range of variable messaging for specific customer groups.

This means we can provide fully composed documents as proofs for approval – so the campaign team are able to see exactly what each customer would receive and check it’s correct.

Automated multichannel delivery

We've built automated communication capabilities based on customer preferences. This enables LBG to communicate through customers' preferred channels - while also reducing costs and risk.

The document proofing process is also automated. This means approvers have all the versions they need delivered straight to their secure mailbox, within minutes of their request.

Customer-centric content and visuals

We've applied Behavioural Economics insights to help customers make better financial decisions, provide a better customer experience, and increase brand trust and loyalty. Clearer layouts and more customer-focused categories have also been introduced.

For one project, this resulted in an 80% reduction in complaints and a 40% increase in customers taking positive action. We've also won two Nudge Awards for this work.

Accessible formats

Previous production processes meant accessible formats could not be started until standard ones were approved, so we worked with the Group to achieve the best customer experience, no matter the format.

Using our new 'Compose Once' system, LBG can now confidently deliver the accessible format requirement at the same time as the standard format, helping to reduce workloads and ensure equal treatment of visually impaired customers.