Loqate help TotallyMoney improve monthly revenue by thousands
TotallyMoney helps customers make smart decisions about credit. Their free credit report service is specifically designed to help people improve their credit rating. And their sophisticated comparison platforms match customers to the best credit cards, loans and mortgages.
Recognising that consumers have changed the way in which they interact with financial services, TotallyMoney made a conscious decision to modernise. Stepping away from the staid financial services style, they decided to add user experience capabilities to their key criteria when choosing suppliers. Product usability and nearly two decades of experience in how consumers search for addresses were why TotallyMoney chose Loqate as their address data partner.
TotallyMoney CTO Mark Durrand led a complete web overhaul. With usability at the forefront, Durrand and the team set out to ensure the customer journey across multiple devices was seamless from arrival to product selection, through application to approval. A key part of the project was to replace their old address look-up service with technology that provided superior user-experience functionality based on the highest quality address data.
We’ve seen an increase of 2.4% in successful form completions, which amounts to tens of thousands of pounds in revenue each month
When assessing credit applications, lenders have to be 100% confident the customer is who they say they are. Their address history is vital to this process – the quality of the data is paramount to TotallyMoney’s reputation. PAF® (Royal Mail's 'Postcode Address File') is a database containing 29 million residential and business addresses, which constantly changes to reflect new builds, updates and deletions with between 3,000 and 5,000 updates every day. TotallyMoney is one of the thousands of Loqate's customers who benefit from PAF address data that is automatically updated daily.
The installation was so fast and the usability of the Loqate addressing tool is second to none. Anyone looking to improve UX and address data quality should look to Loqate.
– Mark Durrand, CTO, TotallyMoney
