The challenge
It is expected that one in six people with an interest-only mortgage will run into financial difficulties at the end of the mortgage term. Banks dedicated a joint campaign to this in 2019: Redemption Happy. The reason was the duty of care imposed on banks. Banks should make customers aware of the risks of an interest-only mortgage, offer them alternatives to reduce risks and encourage them to take action. ABN AMRO asked us to help them fulfil their duty of care by informing all their customers and helping them where possible.
Our approach
House of Redmore has a lot of experience in the design and implementation of customer activation. With this experience, we tackled this project with the precision and efficiency of a military operation. Our greatest challenge was continuity: for a year and a half, 50 well-trained people worked on this project every day – including evenings and weekends. This meant that professionals had to be continuously recruited, selected, trained and retained. We set up the customer activation process in close cooperation with the bank, with work instructions, call scripts, training, quality monitoring and reports. By sharing best practices on a weekly basis, the process continually improved.
This is how we took ABN AMRO forward
The bank is compliant again. Customer data is even better and valuable leads are converted. Customers also appreciated the enhanced service with an above-average high NPS score. The best compliment was that the processes we put in place were not temporary, but permanent. Together, we brought the mortgage process to a permanently higher level.
