By Julian Goldsmith, 15 April 2008 11:02
NEWS
Co-operative Financial Services (CFS) has signed a £12m deal with Xerox to digitise its mail-sorting processes.
The company, which brings together Co-operative Insurance, The Co-operative Banks and online bank Smile and is owned by the Co-operative Group, deals with more than 10,000 pieces of incoming post a day.
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The new automated system will catalogue and route all inbound insurance and retail banking correspondence. The implementation programme will take six years over five stages and is expected to be extended to all of CFS's general insurance and banking documents.
The driver behind this strategy is to increase customer response times and more accurate and timely information distribution across the group.
CFS executive director for strategy and change Dick Parkhouse said in a statement: "CSF is committed to building a sustainable and efficient business. With this new approach we will not only reduce operational costs but more importantly, we will deliver improved customer service."
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