Proactive contact: “We want to let customers know that we’re here for them”

Encouraging customer-led calls

How does the team identify who they should contact? Data is key, and colleagues use a combination of upcoming market trend analysis and big data analytics to understand the impact of the rising cost of living on customers, explains Guy Lansley, Vice President in the Advanced Analytics Centre of Excellence at Barclays.

"Looking at overarching trends in areas like fuel, energy, mortgage and rent costs, we use predictive models to estimate how essential spend will increase into the future," he says. "This enables us to create a model of financial wellbeing. From there, we can identify customers that are more vulnerable to the rising costs of living."

The next step is contacting them via a two-way text messaging system. If recipients want to talk to a member of the team, they simply reply, and they will receive a call within 24 hours from the bank.

What happens during the resulting conversation is entirely up to the customer and their individual needs, Aird explains. "The call is customer-led. There is no agenda or outcome that needs to be achieved. It's just whatever they would like to speak to us about."

The guidance offered on these calls ranges from general financial assistance to budgeting guidance through the Barclays app. In some instances, the team can put customers in touch with charities that can offer dedicated support around particular issues. "By listening to them and understanding what they're going through, we can give specific guidance," she says.

"For a lot of people, it could potentially be the only call they have about financial matters," Lansley notes. "So, it is really valuable to have these conversations - not only for their financial wellbeing but for their personal wellbeing."

He adds that the people who have been contacted can respond to the message at any point - whether that is an hour later or three months down the line. "Often, customers might be doing okay right now. But because we can see what is around the corner, we can flag support that is available that will be useful to them in the future."