Service: Contractor Sourcing & Management
Industry: Financial Services
Headcount: 5,000
Location: UK
Our client a high street bank experienced significant technical issues when migrating to a new IT system from their existing banking platform, resulting in over a million customers experiencing significant issues when trying to access their bank accounts. In some instances, customers were unable to access their accounts for a prolonged period of time. In excess of 200,000 written complaints were received within 2 weeks of the event, meaning our client’s existing complaints team required significant and immediate bolstering in order to review and resolve the complaints received in line with The Financial Conduct Authority (FCA) requirements.
We were engaged by our client to resource and establish a dedicated Project Management Office (PMO) to oversee the high-level management of the remediation project. The PMO team was to be responsible for managing ongoing communication between our client, the FCA, the government and a number of other key stakeholders such as lawyers and the media, providing all parties with key information to demonstrate and evidence compliance with the FCA’s regulations and stipulations about their response to this issue. Within two weeks from receiving the initial instructions we had sourced, vetted, contracted and onboarded a Head of PMO with over 10 years of experience of running remediation programmes, along with a team of 6 PMO specialists covering MI reporting, project management and governance support.
As the scale of the technical issues were fully realised, we were also contracted to source, vet and manage a team of 54 Specialist Business Banking Complaints Handlers and a further team of 18 Complaints Quality Assessors.
In total, we sourced and managed over 100 specialist contractors for our client, managed and payrolled them on behalf of our client until the remediation project was successfully completed.