Embedment Masterclass - Financial Sector
Have you ever applied for a loan and found it took way longer than expected to get approval? From the perspective of the financial institution, when your customers are being underserviced it becomes critical to go to the root cause and solve the problem.
When our client approached us, they had found their Time To Decision (TTD) for loan applications was impacting their customer experience and productivity of the business. As a consequence they completed an analysis and made holistic changes to the lending process to effectively reduce TTD from over 50 days to just 10! Now, it was time to bring their people onboard and adopt the mantra – ‘We are all accountable together to get this right’.
We were charged with designing a learning event to help lenders and associates understand the lending process and make a personal commitment to ‘first time right’, every time.
What we needed here was an initial short, sharp eLearn to introduce the new process and provide opportunity to practice decision making in context of real world scenarios. This would generate a shared understanding going forward so that all stakeholders in the process were ‘on the same page’. Knowing that true behaviour change is brought about by repetition, we supported the eLearn with a Master Class designed to drive a culture shift and embed new behaviours. The aim was to encourage a personal commitment by everyone involved to do their part to reduce Time to Decision to the new benchmark.
After numerous meetings refining key messages and content we delivered: A 15 minute eLearn, designed in such a way that it could be used into the future as a learning tool for new to role people.
A 45 minute Master class, held within 3 months of the initial learning to embed the new behaviours. It was:
Around the time the learning became part of BAU, the TTD was approaching 20 days and decreasing.