Like many players in the financial industry, Barclaycard needed to differentiate itself in a crowded market and better serve its customers and merchants around the globe. So they turned to West Monroe to develop an organizational redesign aimed at centering the customer across processes, while decreasing operational inefficiencies. Over the course of five years, we engaged in several projects to meet this objective, delivering everything from a tactical, high-level customer journey-based operating model to modern digital solutions for specific use cases.
increase in online customers
estimated cumulative profit over five years
reduction in effort required to build and execute marketing campaigns
We now have a digital roadmap vision, which is being delivered at a rapid pace. The approach worked for us because West Monroe focused on both strategy and execution and did so with a team of knowledgeable and dedicated people.
Traditional customer experience projects often show little consideration for the operational impacts the solution will have. Because of our previous work with West Monroe, we knew this wouldn’t be the case.
Hear from Sylvia Veitia, Head of Customer Experience, at Barclaycard and Gil Mermelstein, Managing Director, at West Monroe on how the two companies partnered on a successful project integrating customer journeys and value stream mapping to transform Barclaycard's customer experience. The project was also chosen as a 2016 CXPA Innovation Award winner.
Barclaycard US knew that success in the competitive financial space required a shift from a product-centric perspective to one that puts the customer first. But true transformation was only possible with a complete redesign of their operational processes.
Recognizing the opportunity to merge customer experience (CX) and operational excellence (OE), the payments provider enlisted West Monroe’s expertise to:
West Monroe’s multidisciplinary team of industry and technical experts came together to:
We delivered an organizational strategy to facilitate Barclaycard’s move from product-focused to customer-focused. Over the course of the project, our team:
West Monroe delivered a lean CX strategy and journey-based architecture that empowers Barclaycard to better meet customer needs in a constantly evolving market. Operational efficiencies translate to more engaged customers, as well as top and bottom line gains.
With no retail presence and limited brand awareness, Barclaycard’s digital customers in the U.S. were growing at a rate of just 4% year-over-year. But their competitors were averaging around 10% growth per year. The cards and payments provider had to boost its digital capabilities—fast.
The West Monroe team was brought on to:
West Monroe’s team of customer experience, financial services, and technical experts teamed up with multinational management and technology consulting firm, BearingPoint, to:
In partnership with BearingPoint, we delivered a three-year roadmap designed to improve Barclaycard’s operations and customer experience through flexible and scalable digital capabilities. Together, we:
West Monroe and BearingPoint’s solution was so successful for Barclaycard US that Barclays is now implementing similar digital strategies across other business units worldwide. The results speak for themselves:
When new technology and digital devices dramatically changed consumer needs and behavior, Barclaycard US found itself at a turning point. The cards and payments provider needed an omnichannel marketing strategy that integrated data, operations, and CX. So, they developed an “Always On Marketing” vision and brought on West Monroe to:
West Monroe brought significant experience working with financial services and credit card providers in need of digital expertise to drive better customer engagement. We collaborated with Barclaycard to:
As a result of our work, Barclaycard was able to move from an outdated list-based campaign model to a modern marketing automation system that delivers more sophisticated campaigns with less effort and overhead. The West Monroe team:
We implemented a digital marketing strategy and automation solution that led to higher quality, repeatable campaigns with fewer capacity constraints, empowering Barclaycard to better meet customer needs in an evolving marketplace. Results include: