Case study · Banking · Technology
Automated Breathing Space solution for Lloyds Banking Group
A regulatory delay cut the timeline from twelve months to nine, in the middle of COVID. Customers in problem debt still needed protecting from day one.
Of eligible customers placed on the moratorium the same day
Lloyds Banking GroupThe challenge
What Lloyds faced.
Breathing Space is the debt respite scheme in England and Wales. It gives people in problem debt legal protection from creditor action while they get debt advice. Lloyds Banking Group needed an automated way to handle every customer entering it.
The regulatory delay left nine months to do it, not twelve. All of it had to be delivered remotely.
The solution
What we did.
We designed and built an automated solution with custom processes, including 350 new Debt Manager (DM9) components.
It identified and tracked moratorium accounts, ensured compliance, improved customer communications and strengthened controls and validation.
The results
What changed.
- Launched with minimal defects, on time.
- Around 3,000 cases processed in the first two months.
- 90% of eligible customers placed on the moratorium the same day it was received, reducing the everyday workload.
- The solution went on to win an industry award in 2021.
“This project has been a real success, with a well-designed, well-built, well-tested and well-implemented solution, all in record time despite external challenges, that the business can use with confidence, making a difference to the lives of our customers experiencing difficulties.”
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