Group - 2

Ankush Birla (PGFA1910)

Ashy Zacharia (PGFB1904)
Ravina Singh (PGFA1941)
Surbhi Sabharwal (PGFA1957)
Utkarsh Padiyar (PGFA1959)
Yash Batra (PGFA1960)

Case Study Presentation –

Lombard Direct
INTRODUCTION
• Lombard direct is a subsidy of Lombard Bank which is a part of National Westminster Bank
group
• Its telephone number 0800215000 based on their slogan “loans from 800 from 15000 pounds”
• Main call centre situated in Rotherham South Yorkshire- headed by Sean Guilliam- operates 24/7
and handles 2 million calls per year.
• it usually receives 6000-7000 calls on the busy day (Usually Monday)
• The call center has around 200 seats (for the customer advisers – CAs) and employs around 250 full-
time equivalent staff
• Promotion Criteria : Each level has a set of criteria and Each level is worth about an extra £1 per
hour
• Issue: Staff scheduling is that call volumes are partly dependent upon marketing spend. This also
affected the volumes.
• New Model: Created a correlation model that has looked at the relationships between volumes,
utilization, service levels, abandon rates, costs and ‘people measures’.
SERVICE MIX
• Unsecured Loans
• Insurance on loans
PRODUCT •
•
House insurance
Motor Insurance
• Savings & Credit cards

• 200 Customer Advisors(CA)

PEOPLE • 250 full time staff
• Part time staff

• The call centre operates 24*7*365 days in Rotherham, South Yorkshire.

• Callers are asked a number of questions to rate their creditworthiness and are allocated into
PROCESS a band.
• This risk assessment, together with the size of the borrowing requested, determines the rate
of interest to be charged.
Age

Gender
• Do members have existing relationship
Income with LOMBARD DIRECT or any other
institution?
Household Relationships
• Are they early adapter of new
Location technology?
• How do they prefer to conduct
Technological Preferences transactions and interact with customer
service?
Credit Rating

Personal Preferences • Did they graduated from college?

• Did they recently bought anything
expensive and what?
Milestones

Concentration of Accounts
at other institutions • Are they price sensitive?
Attitudes • What qualities they value?
• Are they more likely to be risk-reverse?
Key Performance Indicators
Telephone availability - The time an individual is available to take calls.
Insurance sales - They want to encourage the people who take out loans with them to take out
their insurance cover on the loans.
Media and product code accuracy - It was very important for their marketing people to know
from where the customers heard about them. However, their systems were a bit lacking in this
area and sometimes the CAs have difficulty finding the right code because there are so many.
Call conversion - To calculate the number of successful loans sold compared to the number of
calls taken.
CATS (Customer Adviser Technical Skills) - Procedural accuracy, such as giving the right
advice and adhering to data protection requirements.
Call analysis - An assessment of the interactions with a customer and compliance with the
correct procedure.
KPI that will influence
• Cost Per Contact :The Cost Per Contact refers to the expenses related to running
a contact center.
•  Abandoned Call Rate: The rate of abandoned calls refers to the total number of
calls where a caller hangs up before an agent answers.
• Average Speed of Answer: The average amount of time wherein a call is required
to be answered
• Average Handle Time: The average time spent by an agent in handling customer
issues or transactions. This also includes the amount of time a customer is
placed on hold within the duration of the call and the after-call work
time which the agent spends doing back-office tasks.
• Customer Satisfaction Score: This metric is calculated by asking a question that
pertains to the customer’s feedback on a particular interaction with an agent.
OPERATIONAL CHECKPOINTS TO
LAUNCH NEW OFFERINGS
1. DEFINE YOUR TARGET USER
Target audience will guide production, marketing, customer experience, and
everything else in a buyer’s journey to get the new product.
For example- Student loan
2. PRODUCT VALIDATION
A great product should answer these questions:
• Who is it for?
• What problem(s) does it solve?
• Why would someone choose this product over a competitor’s?
3. DEVELOPING GO TO MARKET STRATEGY
During the physical development process, create the go-to-market strategy.
GET ALIGNED
• Determine the metrics to be use to gauge success.
• Create key performance indicators (KPIs) for their teams
EVALUATE YOUR LIMITATIONS & START BUILDING
• The resources you can put behind a new product launch.
• Develop a clear budget with everything from staffing needs to paid marketing
spend, and hire new employees or outsource work as needed.
4. SET THE PRE LAUNCH STAGE
• To generate as much buzz as possible.
• With a wealth of content created during the product development stage, hit the
market hard before product launch.

5. DEVELOP THE NEXT PRODUCT

• The metrics you established during your go-to-market strategy will help you
adjust the current launch and prepare you for the next one.
• Tracking the success of a product launch keeps you prepared to pivot or adjust
aspects of the current launch, and will inform the next product’s development.
Tech - Enablement
• E-Service: Lombard Direct should set up an E-Service for the following
reasons:
Easy access for customers: The websites do not have to be staffed for 24
hours a day or 365 days a year, but there is the opportunity for customers to
make contact at any time. This will help in better management of staff.
Opportunity to provide transparency: All the information can be provided on
the website for the customers to understand the product better. This will help
manage the customer talk time better.
Linking services: Opportunities exist to build links between websites of
complementary service providers. This creates the ability to form service
alliances. For example: Lombard wanted its customers to buy both loan and
the insurance.
How will Technology Help Lombard
Direct?
• Help Gain knowledge about the
customer: For example: MSC trade
finance has set up a system wherein
the bank allows the customer to talk
to the same service executive every
time for providing a better solution.
• Knowledge about usage of service by
the customer
• Help customers gain product
knowledge
How will Technology Help Lombard
Direct?
• Provide Customized Services : Loyalty
program (CRED)
• Reduce cost : Financial services,
traditionally operating through a
network of local branches, are able to
reduce the cost of their operations by
dealing centrally through the
telephone or internet. Example:
Tracking Credit- Worthiness
How will it improve Service Quality?
Fast response: 24*7 chatbots system to answer customer queries.
Customer communication: The provision of information about length of the
queue, for example, or how long before a response or delivery is likely.
Choice of phone follow-up: The option to communicate person-to-person
with the company in case of unresolved queries or concerns.
Ability to check status: The ability the status of an order
Links to FAQs: The ability to see frequently asked questions (FAQs) to deal
with obvious queries.