Case Study: Hargreaves Lansdown improves pension drawdown decisions with Sopra Steria

Hargreaves Lansdown cuts pension drawdown errors by 62% with Sopra Steria

The customer, Hargreaves Lansdown, faced the challenge of creating a new online pension drawdown journey from scratch. This required helping their investors make complex, high-stakes financial decisions with confidence while also meeting new regulatory requirements. They partnered with the vendor Sopra Steria to tackle this problem using a user-centred design approach.

Sopra Steria implemented a solution that embedded positive friction into the digital journey, including comprehension checks that prompted users to confirm their understanding before proceeding. This approach empowered clients to make more informed decisions without overwhelming them. The results for Hargreaves Lansdown were significant: customers were nearly twice as likely to make long-term decisions, 83% more likely to choose partial drawdowns online versus the old paper form, and the error rate was reduced by 62%. Sopra Steria's solution successfully delivered better outcomes for both the client and their customers.

Hargreaves Lansdown