Just Six Months Later
By April 2019 thinkmoney had achieved all of the above objectives. Kindly they’ve agreed to share their experience in the video below.
Here are just a few of the business benefits that thinkmoney has achieved since adopting OutSystems as their application development platform:
- Hired and trained eight developers, seven of whom came straight from coding bootcamps.
- Established agile processes and Product Owner roles across the business.
- Delivered a new customer onboarding process in seven weeks. The improved CX helped them grow by 5% in the first three months following launch.
- Customer onboarding completion has improved by 30%
- Customer acquisition marketing costs reduced by 21%
- Delivered a new, class-leading mobile banking app in 14 weeks. Associated marketing activities will attract over 15,000 new customers in 2019.
- Delivered a new online banking system in 26 weeks from start to finish.
- Massively reduced contact center workload, as 75% of customers now use digital, self-service channels.
- Retired previous off-the-shelf digital banking platform, saving around £300,000 per year.
- Expanded their digital business unit, to include two technical leads/senior developers, six developers, two scrum masters, four UX design experts, two front end experts, two business analysts/project managers, and two solutions architects.
- Developed continuous delivery capability – delivered frequent releases across three customer-facing systems.
And, in an update to this story, we’re proud to announce thinkmoney won the 2019 Banking Technology Award for “Best Use of IT in Retail Banking.” Read the press release here.
thinkmoney is now applying the same agile approach to new products and services, including the launch of a new business banking proposition. Now that their digital business unit and agile practices are proven and embedded across the business, they’re able to innovate fast, and continuously improve customer experience across all their channels.
As Jo Ward, thinkmoney’s Digital Product Director puts it, “This is just the beginning. We've got a jam-packed roadmap, and we want to do so much more with the OutSystems platform and continue to work in a really agile and nimble way.”
For a quick overview of the thinkmoney mobile banking app, delivered in 14 weeks using the OutSystems platform, check out the video below, or visit https://www.thinkmoney.co.uk/account/app/.