Modernizing the digital service of a European financial authority

A European financial authority wanted to improve customer service levels, meet evolving customer expectations, and reduce the cost of service to meet budgetary targets. To realize these goals, McKinsey supported the financial authority in moving more of their services to digital and self-service channels through a holistic transformation.

In partnership with McKinsey, the client:

• Initiated an ambitious service transformation with a customer-centric approach.
• Established a pipeline of priority initiatives based on budgetary value and customer service impact
• Embedded a new way of working with cross-functional teams collectively responsible for end-to-end service line transformation—an approach now replicated more broadly across the organization

• Financial savings: €15 million annual savings generated in the first year of the program, with a pipeline of €200 million of cumulative benefits over the next four years.
• Reduced demand: 12% reduction in demand across telephone, post, and webchat, a result of proactive digital communication of status updates to taxpayers and greater use of digital self-service channels.
• Upskilled workforce: Over 150 financial authority staff upskilled through extensive capability building in areas such as program management, communication, and structured problem solving.

The authority is committed to building on the successes of the first year of the program to continue transforming services and improving customer and employee experience under tight budget constraints.