Case Study: UK High Street Bank achieves 75% efficiency savings in secured collections with Sopra Steria

UK High Street Bank identifies 75% efficiency savings with Sopra Steria

The customer, a UK high street bank, was struggling with an inefficient secured collections operation due to legacy software, a 5-year IT backlog, and a lack of digital channels. This led to a fragmented customer experience and an inability to handle a forecasted 94% increase in demand without hiring 22 additional staff. Sopra Steria was engaged to conduct a discovery and explore solutions.

Sopra Steria's analysis identified 75% process waste and opportunities for major efficiency savings. They delivered a service blueprint, future customer journeys, and a requirements document, leading to a shortlist of vendors for a new platform. The solution eliminated the need for additional hiring, instead creating future cost savings. Sopra Steria also recommended Lean Six Sigma training to foster a continuous improvement culture and will support the platform's implementation.