Leading a Building Society through their modernisation journey
Industry
Building Society
Capability
Digital Transformation
The Outcome
Woodhurst has helped the Society achieve transformative results for the Society, with initial work involving:
pain points identified
0+
opportunities outlined
0+
business requirements defined
0
SMEs involved
0
The Challenge
The Building Society had recently upgraded their core banking platform and were ready to implement innovative solutions to drive forward their modernisation journey.
Across lending and savings, a significant amount of manual effort was required to overcome the functionality gaps in existing tooling and channels, preventing growth.
The Society needed a clear understanding and prioritisation of their pain points and opportunities in order to inform the direction of their transformation, maximising the returns on their investments.
How Woodhurst Helped
Customer Journey and Process Mapping: Engaged with stakeholders across numerous teams to clearly map out the current and target state customer journeys for mortgage application through to offer and onboarding as a savings customer.
Identification of key pain-points: Documented over 150 pain points across lending and savings, identifying solutions to remediate them.
Target Vision: Ran a series of workshops with key stakeholders to define a high-level vision for the society and a detailed view on what needs to be true to achieve it.
Opportunities, Quick Wins, and Requirements: Translated all the identified pain points into prioritised opportunities for improvement, including quick wins, and a set of requirements for achieving the target state.
The Outcome
Woodhurst pinpointed key applications in the existing architecture that require modernisation to enable a better colleague and customer experience.
Woodhurst outlined clear opportunities and recommendations with a view on how to proceed, identifying and prioritising both larger technology implementations and smaller process improvements.
Woodhurst helped promote the need for modernisation around different teams and ensured leadership buy-in and alignment across the organisation.
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