Case Study: Moneyfarm

Wealth management for the many

About Moneyfarm

Founded in 2011, Moneyfarm is a digital wealth manager that helps people protect and increase their wealth over time.

It was launched out of a belief that the wealth management industry was failing to cater for the needs of many people. Guided by the principles that families should be able to invest their money simply and effectively, Moneyfarm created a service that gives people access to investment advice and high-quality products at a family-friendly cost.

Regulated by the Financial Conduct Authority, it offers advice and discretionary investments to 30,000 customers in both Italy and the UK, with over £400 million assets under management.

Offering a more human and secure communication to customers

Despite being a digital-first business, being able to connect customers with human investment consultants lies at the heart of Moneyfarm’s business.

“We want to simplify the process of investing, and lower the barrier to entry,” said Stefano Giudici, Data & Integrations Product Manager at Moneyfarm. “While that means we can handle a lot of the initial stages digitally, when it comes to selecting a service and managing a portfolio, our customers need to have access to experts. Whilst our minimum investment is low compared to other wealth managers, for the people trusting us, it’s their personal savings so they need to know that our consultants are reliable. That means being able to get hold of them and speak to them when they need it, not wait for an email or a chatbot to respond.”

In the early stages, simply having multiple telephone lines provided the access customers needed. However, as the business grew, this became more complex, with limited ability to route calls quickly, struggles to connect mobiles with landlines, being unable to track calls and patchy line quality.

On top of this, FCA regulations and the introduction of GDPR requires that all calls between customers and investment professionals have to be recorded and customers’ data handled and stored sensitively and securely.

“It’s a part of business – as you grow, so you outgrow the systems that helped you grow. If we wanted to continue offering our customers a high level of service, we needed a voice solution that could scale with us, giving us flexibility without being hugely expensive,” said Stefano. “At the same time, we needed a solution that would handle data within a framework that is compliant with all the regulations we are subject to, whether FCA or GDPR.”

Why Natterbox

To find that level of flexibility, combined with the ability to capture and hold sensitive data, Moneyfarm chose Natterbox to provide a voice solution for its frontline staff, in its CRM, sales and operations teams.

The Natterbox solution allows Moneyfarm to automatically route customer calls to the relevant teams, ensuring that queries and issues are dealt with quickly and providing a consistently high level of customer service. With investment consultants travelling between offices a lot, Natterbox allows mobile phones to be plugged into the system, making it easy to pick up and make calls no matter where they are while maintaining the ability to track and record as required.

“We need to give our customers access to our consultants when they want support, not when it suits us. Having a solution that allows us to seamlessly connect our employees across Europe means we deliver a high level of service while working remotely from another office.”

Consistent call quality is another factor that can impact customer service, something Natterbox delivers. “We can’t have an unreliable phone system, and the conversations our customers want to have can be sensitive. If we can’t hear them properly, it frustrates both them and our employees. Natterbox’s reliability and call quality means we don’t have to worry about whether the system is going to work. It just does.”

Moneyfarm has also benefited from Natterbox’s consultative approach, backed by responsive customer support. “We were pretty clear on what we needed but working with Natterbox meant we drew on their team’s experience to implement approaches and processes in slightly different and more efficient ways. We’re also receiving a level of customer support we wouldn’t have got with an off-the-shelf solution.”

Results Supporting growth through scaling and data analysis

Being able to rely on the system in multiple countries means that Moneyfarm knows it can count on Natterbox to support its growth. “Whether it’s new products or new countries, we can only grow if we have the infrastructure in place to continue to deliver the highest level of service to our customers. Natterbox’s seamless integration in both the UK and Italy is a critical part of that foundation, positioning us well for future expansion.”

Since implementing Natterbox, Moneyfarm has been able to track calls for the first time and start feeding customer interaction data back into the business. “Before, we couldn’t track either inbound or outbound calls – now we can measure how long we’re spending with certain customers, how long it takes to resolve certain issues, what the outcomes are from inbound versus outbound calls. There’s a huge amount we can now learn, which we simply couldn’t before.”

That extends to being able to identify the types of conversations which lead to increased investments or sales, which can then be built into training and development programmes for investment consultants and customer service teams.

An innovative future

While that process is currently manual, having access to previously untapped pools of data is opening up future automation opportunities for Moneyfarm. “We’re looking at how we can implement machine learning to draw on the data found in call transcripts, and then build that back into the business. Being able to automate it will allow us to be much faster at understanding what works for customers.

Whether it’s adding a new element to our training, feeding into new products and services or speeding up time to market, it’s not something we would have been able to do without the quality data Natterbox helps us harvest.

Let's talk

sales@natterbox.com

EMEA +44 203 510 0500
Nordic +46 8 4030 9112
APAC +61 2 8244 3000
USA +1 646 762 2111

Download Case Study PDF

Making wealth management available to more people by delivering a smart, cost efficient and connected service.

Key challenges

  • Poor voice quality
  • Needed a way to route calls easily
  • Needed a way to record and store data in line with regulations

“It’s a part of business – as you grow, so you outgrow the systems that helped you grow. If we wanted to continue offering our customers a high level of service, we needed a voice solution that could scale with us, giving us flexibility without being hugely expensive.”

Key features

  • Smart routing of calls and easy access to information
  • Calls recorded and accessible within Salesforce for compliance, coaching and training

“We need to give our customers access to our consultants when they want support, not when it suits us. Having a solution that allows us to seamlessly connect our employees across Europe means we deliver a high level of service while working remotely from another office.”

Key business benefits

  • Salesforce integration with Financial Services Cloud
  • Better routing of calls to give customers access to the right team
  • A user-friendly system that can grow with the company
  • Call Recording for compliance

“We were pretty clear on what we needed but working with Natterbox meant we drew on their team’s experience to implement approaches and processes in slightly different and more efficient ways. We’re also receiving a level of customer support we wouldn’t have got with an off-the-shelf solution.”