We spoke to our partner TSB about how they have found working with Lightning Reach and using the portal.
We heard from Partnerships & Open Banking Lead Adam Betteridge about how they have worked with Lighting Reach in delivering additional vital support to their customers.
Briefly tell us a little about your company.
TSB is a retail bank with a heritage stretching back to the start of the savings bank movement 200 years ago, that provides full banking services to more than five million customers. TSB operates on a modern banking platform and serves its customers through digital channels, over the phone and in branches across the UK.
TSB’s purpose is to provide Money Confidence for its customer base – helping households achieve their goals and better make more of their money. Money Confidence. For Everyone. Everyday.
Why did you decide to work with Lightning Reach instead of other options you were considering?
We discovered Lightning reach through our TSB Labs innovation programme, and following working with them on the programme we identified they helped solve a specific gap we had in our services to our customers. The services that LR offered we were not able to identify completely through one other solution and we were impressed by the team themselves.
What was your approach to supporting financially vulnerable customers before using Lightning Reach, and what changed after partnering with Lightning Reach?
This was a gap in our services previously and we didn’t have the ability to offer similar services that LR provide. Now we have seen a significant amount of TSB customers register for the services and receive grants which they wouldn’t of been aware of previously.
What have been the main benefits for you and your organisation of using the Lightning Reach portal and what impact has it had so far?
We have seen a large amount of customers sign up and some real success stories to help our customers with their money confidence including over £25,000 being paid out to TSB customers in a short period of time already. This really supports our purpose of Money Confidence.
How have you found the process of working with Lightning Reach?
This has been seamless, the team are a pleasure to work with and where changes were needed to help our risk teams get comfortable, they were really accommodating during the process, listened to our regulatory challenges and were able to support the team to get comfortable and in turn launch to our customers.
What would you say to organisations who are thinking about potentially using the portal?
I’d recommend it. This is a great tool to help a wide range of financially vulnerable customers find access to grants and cash they weren’t previously aware of and we have seen some amazing success stories so far. Lightning reach also have scope to grow which is equally exciting to see how it can develop further.
If you are interested in discussing how the Lightning Reach portal could support your organisation in streamlining and accelerating the delivery of financial support to your service users, while reaching a wider range of potential clients to access support from your organisation quickly and easily, please get in touch with ren@lightningreach.org