The Challenge

Starting a journey to improve the customer experience.

Start Up Loans, a subsidiary of the British Business Bank, struggled with disjointed customer data and siloed back-end systems, leading to a lack of visibility into customer behaviour. Complex Expression of Interest forms contributed to a high drop-off rate between registration and application stages. Start ups often faced issues with delivery partner allocations, while a slow deduplication process increased the risk of errors and delayed loan approvals.

The Solution

Implementing tech to enhance user experience and data tracking.

To tackle these issues, Credera extended the Salesforce Experience Cloud to improve self-registration for applicants. We also redesigned the user interface to help drive user engagement within the community. This new approach allowed for better tracking of applicant sources, providing valuable insights into customer behaviour.

The Results

Improving efficiency and conversion rates.

These changes led to impressive results:

• 50% reduction in delivery partner allocation issues, meaning start ups could access the loans faster

• The drop-off rate from registration to application decreased by 60%

• Deduplication process time was cut by two-thirds, allowing for quicker and more accurate processing of startup requests

We also held a webinar with Start Up Loans which highlighted how they transformed their customer journey using Salesforce. Watch the recording of the webinar below.