A PERPETUAL EDGE ON GROWTH

How CSI is enabling an equity release specialist to help their customers take control of their finances with a perpetual edge of growth.

Our client: Key (formerly Key Retirement) provides financial services for those in or approaching retirement to address the decline in defined benefit pension schemes and the growing need for self-provision after full-time employment.

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Context

The past decade has seen a huge change in the retirement income market. This is due to the ageing population, the continuing decline in defined benefit pension schemes and the concurrently growing need for self-provision in retirement. As a result, Key was determined to drive significant growth in equity release.

Goal

By focusing on equity release, Key committed to increase annual turnover from £35m to £100m.

This exciting opportunity came with several challenges including technology that wasn’t stable enough to provide the company with a platform for growth.

Challenge

To achieve their growth targets, Key required very stable systems. Prior to new investment with CSI, each month saw 60 to 80 severe system outages. This meant that every day 15% of Key’s staff experienced downtime leading to considerable loss of productivity.

In order to effectively manage increased marketing budgets, Key also needed a CRM system that would allow automation and provide a Single Customer View.

Key needed a more flexible go-to-market strategy to open up to a new broker market. A steep sales curve needed systems to be upgraded as quickly as possible and with no disruption to employees.

Meeting these challenges will provide Key with a sustainable platform for future growth.

I’M CONFIDENT THAT WE’VE NOT ONLY CHOSEN THE RIGHT TECHNOLOGY PARTNER TO ENABLE US TO ACHIEVE OUR THREE-YEAR PLAN BUT THE RIGHT PARTNER TO SET US UP FOR THE NEXT 5-10 YEARS AHEAD.

Simon Thompson, CFO, KR Group

Solution

CSI provided Key with robust and scalable infrastructure via a private cloud platform. Based on latest enterprise-class technology, the cloud model enables commercial flexibility without compromising compliance.

To present a single customer view, CSI managed a project with other partners to deploy a new Microsoft Dynamics CRM system and a business-critical origination platform developed by DPR.

CSI was worked with DPR many times and the business application was integrated seamlessly into Key’s environment.

The DPR application is used by Key for the consumer brand more 2 life, allowing brokers a better user experience which has resulted in significantly enhanced case processing volumes.

Outcomes

With CSI, DPR and other partners, 80% of Key workforce moved to the new systems ahead of schedule and with no disruption.

CSI continues to work closely with Key to ensure they achieve their three year plan. Having achieved the first milestone of providing a new scalable platform – running the core tools for growth – the partnership is focussing on new innovative tools and optimising architecture.

In all aspects, CSI ensures scalability and agility, while also maintaining the high levels of security and compliance demanded in this highly regulated industry.

£700M

In 2017, Key released over £700m of funds - an annual increase of 40%

11,000

Key advised 11,000 clients in 2017, up from 8,000 in the preceding year

18.2%

The UK population is ageing – around 18.2% of the UK population is now aged 65 years or over - compared with 15.9% in 2007