The UK’s fastest growing Open Banking FinTech
Legado’s platform is enabling the UK’s best FinTech’s to deliver more complete, more capable digital propositions for their customers.
Read time - 3 minutes
Challenges
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Lack of engagement of end-users on the client app.
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Competing priorities impeding proposition enhancements.
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No communications channel between corporate customers and the client app.
Solutions
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Introduced functionality for the end-user to manage their own personal life planning and household bills within the platform – driving regular engagement within the client app.
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Suite of pre-built, modular capability, enabling the client app with the functionality they need, as they need it, with accelerated time to value and eliminating the barriers for proposition enhancement.
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Embedded document vault within the client app, creating a dedicated channel for corporate customers to manage communications with their end-customers via the client app to drive efficiencies.
“>Why were we needed?
The Client had several corporate customers approaching them for an extension to their existing Open Banking and Open Finance capabilities, with requirements including a Digital Vault for end-users to upload personal documentation and communication features to enable the corporate customer a channel to send communications to end-users. Ultimately, the corporate customers of our Client were looking for greater utility, efficiency, and engagement for their propositions on the Client’s app.
The Client needed a flexible communications channel and encrypted document store that could sit within their white-labelled platform, and responsive to their individual institutional customers’ requirements. They required a wide range of features and functionality that could be configured and toggled out-the-box, from managing customer communications at bulk, engaging notifications, all the way to allowing end-users to manage their personal life admin within the platform.
What did we do?
We partnered with the Client to embed our Digital Vault within their customer app. This enabled our extensive suite of pre-built functionality for document management, communications and bill automation to be available to the Clients’ corporate customers. The modularity of our platform allows the Client to maintain propositional control, ensuring that their corporate customers receive the functionality they need, exactly as they need it.
The Digital Vault enabled end-users to receive communications from the Corporate customer of our client, but also empowered end-users to manage their own personal life planning within the experience, with advanced permissioning to ensure the right parties see the right data.
The Digital Vault also enabled access for users to utilise our Wonderbill functionality, allowing end-users to aggregate and manage their household bills all within the Client’s app.
What was the impact
- 90% reduction in communication costs
- 3x increase in customer engagement
- 5x increase in customer satisfaction due to added utility the platform
- Significant growth for the Client’s app with corporate customers due to enhanced proposition
- Absolute propositional control for the Client, using our modular and toggleable capability
- Seamlessly embedded into the Client’s app
- Enabled corporate customers to manage digital communications within the Client app
- Market leading consumer duty evidencing for consumer understanding built-in
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