Tesco Bank is planning to boost its customer relationship management strategy – across its portfolio of insurance, credit cards and loans – and has appointed WDMP to handle the business following a pitch.
WDMP will be responsible for customer acquisition and retention, although its first job could be to repair the damage done by a recent IT blunder which locked thousands of customers out of their accounts.
The problem followed a migration of savings and loans accounts from systems at former partner RBS to its own bank platform.
At the time, web forums were inundated with angry customers. One said: “Absolute utter bloody shambles. I will close my account as soon as someone answers my queries on the phone.” Meanwhile, another posted: “When I am able to access my money will close the account and move to a more reliable online provider.”
The issue has also affected Tesco Bank’s move into the mortgage market. The company had been expected to launch its home-loans products in the summer, but is awaiting regulatory approval from the Financial Services Authority (FSA) and is unlikely to bring them to market until early 2012.
WDMP joins The Red Brick Road, EHS 4D, Harvest Digital and BD Network on the Tesco agency roster. Tesco is currently seeking a new lead digital agency.
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