Major UK Retail Bank – Rectification Centre
- Our client, a UK Tier 1 Bank, was introduced to the concept of DARA to automate the data gathering process prior to remediation of PPI claims.
- The client was manually handling the task with thousands of clerical staff, both internal and agency, operating in four cities across the UK.
- Rectification as an activity was operated through several discrete centres and divisions.
- Process lacked consistency across the various rectification programmes.
- Administrative cost per case was high.
- Reliance on external regulatory expertise significantly exceeded case costs.
Over an 18 month period, a rectification Centre of Excellence was established with sustainable infrastructure including:
- A centralised resourcing model using contractors delivered higher productivity and consistency of approach to comparative programmes.
- Lower attrition rates evidenced as training and qualifications for resources introduced.
- Implementation of effective methodology across all projects through establishment of a central Policy team.
- Centrally controlled Change Management facilitated line of sight across multiple projects.
- A gateway-based Governance Model with clear accountabilities to identify issues and a staged process of acceptance by the Remediation Unit who then built and owned the delivery model.
Results & Learnings
- Cost per case has reduced substantially with less dependence on high-cost resource providers due to higher retention levels of contract staff over a longer period.
- Through the application of consistent methodologies, workflow has been optimised by the rapid deployment of resources across programmes.
- Machine learning algorithms enabled DARA to automatically classify data and apply policies to that data to adhere to industry data compliance regulations.
- The new Governance Model has ensured that the business role in identifying and scoping issues is prominent without the distractions of operational delivery.