18-08-2015 12;09;23.pdf
TRANSCRIPT
Society News
03/08/2004 FID to
Page 1 of2
PRINCIPALITYI am pleased to announce that the pilot project we have been undertaking withFirst Independent Direct Ltd (FID) came to a successful conclusion on Monday2nd of August. After a roller coaster ride, the team based in the CustomerContact Centre have conclusively demonstrated that there is an opportunity tocreate a profitable mortgage broking business using remote selling techniques.
As you may recall, the FID consumer experience is different from the usualmortgage broker, in that it provides tailored advice using a telephone line andan Internet browser simultaneously. Using the FID technology, we set out toprove that we could: 1. cost effectively broker mortgage and ancillary products;2. create a profitable, 'direct-only' broker business; and 3. train Principality staffin whole-of-market broking.
The challenge was taken up by James Enos, Sarah Goode, Tracey Kirby andTeresa Jones and I am pleased to say they successfully proved all of the abovepoints. Peter Griffiths and I are delighted with this outcome and extend ourthanks to the team for their flexibility, tenacity and sense of adventure.
Tracey has kindly agreed to help work through the existing pipeline of customerleads and business over the next few weeks, but apart from that there will be amuch reduced presence in the Contact Centre as we wind the project up. ThePrincipality Board of Directors have indicated that they are minded to make aninvestment in a broker business providing it met our investment criteria.Therefore, we are currently using the knowledge and experience gained fromthis project to assess such business investment opportunities.
Once again, many thanks to everybody involved in this project andcongratulations on a great performance!
Author Name: Robin MatthewsAuthor Position: Head of e-Commerce and Strategic Planning
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PO Box 89, Principality Buildings, Queen Street, Cardiff CF10 1UA. Chief Executive Peter L. Griffiths ACIB.
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