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A customer-insight led approach to building operational resilience

Author

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  • Passey, Fi

Abstract

High-profile failures over the past few years have led to the disruption of banking services in the UK, with some banks’ customers left unable to make or receive payments, check balances or access cash for days or weeks. Technological advances and a push towards remote channels have increased customer expectations of ‘always on’ — any time, any place, anywhere — and with disruptions lasting anything from a few minutes to nearly a month, the regulator is also taking an interest. Nationwide Building Society has responded positively to this challenge by defining its operational resilience strategy, a long-term plan aimed at minimising the likelihood and impact of future disruptions. Customer research was used in order to understand customer expectations, as well as define and prioritise its end-to-end customer journeys, known as business service lines. A comprehensive mapping exercise facilitated the development of strategies and investment projects to address identified vulnerabilities and increase resilience.

Suggested Citation

  • Passey, Fi, 2018. "A customer-insight led approach to building operational resilience," Journal of Business Continuity & Emergency Planning, Henry Stewart Publications, vol. 11(3), pages 232-242, March.
    • Handle: RePEc:aza:jbcep0:y:2018:v:11:i:3:p:232-242
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    More about this item

    Keywords

    operational resilience; resilience framework; UK retail banking; consumer research;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation

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