Hampshire Trust Bank Delivers Stronger, Faster Outcomes, Reducing Managerial Work Volumes by 25% with Verint Operations Manager
Verint Operations Manager is helping Hampshire Trust Bank (HTB) manage a £3 billion balance sheet and execute new applications faster.
Results
- 99%
SLA adherence within first week of go-live.
- 25%
Reduction in time spent capturing, assigning, and tracking work.
- 6 months
To develop and launch the solution.
About Hampshire Trust Bank (HTB)
Verint Operations Manager is helping Hampshire Trust Bank (HTB) manage a £3 billion balance sheet and execute new applications faster – all of which has a huge impact on the mortgage broker and end-user customer experience. Developed and launched in just six months, the cloud-based solution enables this fast-growing UK mortgage provider to balance workloads across teams intraday using real-time activity data.
Opportunity
HTB supports the financial needs of individuals, businesses, and communities across the UK. The Specialist Mortgages (SM) operation comprises eight teams, containing 70 people in total, which are split between New Business and Servicing. SM supports 96 processes, 95 for servicing and one elongated end-to-end new business mortgage application process.
These teams also support various contact channels via brokers (99% of HTB business is though the broker network), solicitors, and external customers. Work is managed across various sources, including shared mailboxes, emails, and HTB systems.
“Work used to be allocated manually via spreadsheets,” says Jimmy Tang, Data Strategy and Operation Manager, HTB. “It was difficult to form a clear picture of mortgage operations across our eight teams. And walk-around management to collect data wasn’t feasible across so many departments, locations, and processes.”
The traditional state of operations prior to Verint was as follows:
- Work arrived via several email inboxes and the broker portal. This process was open to error, challenging to prioritize, and lacked a single view of the data.
- There was also no joined-up view of service level agreements (SLAs) across all teams.
- Proactive pipeline chasing was only accomplished by continual management overhead with spreadsheets.
- Time spent on tasks was judged by “gut feel,” making it difficult to understand true demand, capacity and performance.
Visibility was also an issue. HTB needed to generate operational insights for the team leaders to better manage workload among teams, ensure visibility into client service position (active, pended, completed), and improve performance management.
“Our goal was to improve employee productivity and resource capacity, while at the same time taking more control over our operations,” says Tang.
“To say it’s a transformation is an understatement. Thanks to Verint, we can manage a £3 billion balance sheet and new applications significantly faster – and that has a huge impact on both the mortgage broker and end-user customer experience.”
Solution
HTB deployed Verint Operations Manager in the cloud across all eight teams simultaneously, to help ensure the right work is assigned to the employee with the required skills at the right time – all without any manual intervention.
Built around the Verint Work Allocation Bot, this forward-thinking strategy helps SM:
- Pinpoint tracking of work status and state across approximately 100 Specialist Mortgages processes.
- Increase value-add activities and continuous improvement, reducing waste and lag time.
- Improve collaboration via Verint Operations Manager and reduce emails and Teams messaging – resulting in instant oversight to move work based on capacity to ensure service levels are met.
- Generate real-time notification of new documents loaded to the Broker Portal.
- Manage more effectively, enabling team leaders to make priority calls based on data-driven insights for decision making.
- Enhance capacity, unlocking team leaders’ time to support complex cases and provide coaching.
Payment Support is one area that has been transformed by Verint. The day one impact of the implementation has allowed HTB to backload a month’s worth of cases into the system and enable the team to keep track of them. They can also track the success rate of their contact strategy, which refers to how frequently HTB contacts customers who have missed their payments.
Benefits
By automating the prioritization, allocation, and rebalancing of work, HTB is reimagining the way resources are allocated and operate. This has:
- Reduced volume of work for managers by 25%, significantly improving speed, accuracy, customer experience, and operational efficiency.
- Positioned HTB to be able to grow the mortgage applications business over the next two years, without adding headcount.
- Enabled managers to balance workloads across teams intraday using real-time activity data.
- Ensured the work pipeline is processed optimally. For example, teams can allocate and follow cases, ensure tasks are conducted in the right order, and use process automation to improve turnaround time.
- Increased operational visibility and control.
- Improved employee productivity and effectiveness.
HTB has also accelerated turnaround times and SLA achievement. “Bridging Lending Managers, for example, were consistently ensuring more than 99% SLA achievement within just the first week of go-live,” says Tang.
He continues, “To say it’s a transformation is an understatement. Thanks to Verint, we can manage a £3 billion balance sheet and new applications significantly faster – and that has a huge impact on both the mortgage broker and end-user customer experience.”
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