Toyota Financial Services embraces digital transformation to provide a frictionless user experience.
Toyota Financial Services embraces digital transformation to provide a frictionless user experience.
Since opening its doors in 1989, Toyota Financial Services (TFS) has grown to be one of the largest motor vehicle finance companies in New Zealand. From finance options for vehicles, yachts or dinghies, to personal loans, TFS’ success in growing its range of offerings has resulted in an unprecedented volume of customer enquiries, needs and bottlenecks.
INSIGHT
How can we create a frictionless user experience that nurtures each customer’s financial journey?
To provide best-in-class customer-centric financial services to a wide range of customer demographic and needs, TFS embarked on a digital transformation journey with BBT.
In the multi-phased roadmap, the immediate job at hand was to resolve their customer pain point of personal data access. Previously, the only way for customers to access their loan information, update their details, and make queries was via phone or email. It became clear that although a lot of the inbound enquiries were repetitive, time-consuming and created bottlenecks, they were also straightforward.
The challenge for the teams at TFS and BBT was to create a digital solution that enables customers to ‘self-serve’ their most common requests while ensuring it is accessible, intuitive and easy to use.
CLIENT
Toyota Financial Services
INDUSTRY
Financial Services
WE HELPED WITH
Customer Journey Strategy, Digital Strategy, Web Application Development
IDEA
In the initial stages of development, both an app and a web-based solution were considered. Factors like costs, speed-to-market, device compatibility, customer usage frequency and behaviour were balanced to create an agile digital product that can integrate with the current ecosystem.
The solution: a web-based customer-facing retail portal employing best-in-breed tech stack. The new system integrates with TFS’ internal finance system allowing customers to easily pull up the information they needed in real-time, and make edits and changes without the need to contact customer service. It is also accessible from a wide range of devices, requiring only a modern web browser and internet connection, and without the need to download a standalone application.
IDEA
In the initial stages of development, both an app and a web-based solution were considered. Factors like costs, speed-to-market, device compatibility, customer usage frequency and behaviour were balanced to create an agile digital product that can integrate with the current ecosystem.
The solution: a web-based customer-facing retail portal employing best-in-breed tech stack. The new system integrates with TFS’ internal finance system allowing customers to easily pull up the information they needed in real-time, and make edits and changes without the need to contact customer service. It is also accessible from a wide range of devices, requiring only a modern web browser and internet connection, and without the need to download a standalone application.
IMPACT
In the soft launch of the new portal, customers were invited to use and provide feedback prior to a wider roll-out.
Almost immediately, the customer service centre saw a significant decrease in inbound calls and wait time. The teams have also received positive feedback on the convenience and ease of use.
The successful launch resulted in a quick win for TFS and continues to provide valuable insights to the product, design, and development teams for future iterations and innovations.
The success and learnings from the web-app also feed into TFS’ wider digital transformation blueprint led by BBT, that builds towards the goal of frictionless financial service and experience that puts their customers at its core.
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