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Press releaseNS&I’S MODERNISATION AND GROWTH RECOGNISED WITH THREE AWARDS AT THE IFS SCHOOL OF FINANCE FINANCIAL INNOVATION AWARDS 200627 November 2006National Savings and Investments (NS&I), the government-backed savings and investments provider, scooped three awards at this year’s ifs School of Finance Financial Innovation Awards. All three awards –The Most Effective Delivery Channels Initiative, Most Effective Sourcing Strategy and The Best Marketing Initiative – recognise the success of NS&I’s modernisation and innovation in driving growth. The Financial Innovation Awards recognise, promote and reward effectiveness and innovation in financial services. Up against tough competition from several other leading organisations such as Royal Bank of Scotland, Lloyds TSB and HSBC, the accolades are a major achievement for the 145 year-old government-backed savings provider. Effective outsourcingNS&I’s partnership with Siemens Business Services won the Most Effective Sourcing Strategy Award. This latest accolade demonstrates the success of the partnership, which began in 1999, in transforming the organisation from being highly product and operations-orientated into a customer-focused culture with an improved understanding of its customers and their investment needs. The partnership continues to deliver service and product improvements such as the new Direct ISA. Direct deliveryThe partnership has also enabled huge progress in rationalising NS&I’s existing IT systems and investment in new more efficient banking platforms, which provide better customer service and access. This has underpinned NS&I’s rapid expansion into new channels. This achievement was recognised with the award for the Most Effective Delivery Channels. With almost £4 billion worth of business expected via telephone and internet in 2006/07, NS&I has differentiated itself from other financial providers by retaining the human touch with its direct channels and rejecting options such as electronic telephone menus.
Raising awarenessNS&I’s 2005/06 TV-led advertising campaign was also recognised with an award. Fronted by Sir Alan Sugar, the integrated campaign raised awareness of the organisation’s unique and exciting offers, with familiarity and favourability levels among the general public up to their highest levels for many years. It also helped to achieve record savings and investments inflows of £11.2 billion with no additional funding. John Prout, NS&I’s sales director who collected one of the awards at the ceremony in Covent Garden said: “To receive these awards is a real honour for all of us at NS&I and our partners. There has been a huge programme of modernisation right across NS&I over the last five years, with product and service improvements which place the customer at the centre of our business. However we recognise there is still more to do to ensure we are the leading and most trusted savings organisation we aim to be and intend to build on this success. “ ENDS Notes to editors: National Savings and Investments National Savings and Investments (NS&I) is one of the UK’s largest savings and investments providers with around 26 million customers and £77 billion invested. NS&I provides a wide range of savings and investments, including Premium Bonds, Savings Certificates, Income Bonds, Children’s Bonus Bonds, Guaranteed Equity Bonds and the Easy Access Savings Account. NS&I is able to offer a 100% capital guarantee on all the products it offers because it is backed by HM Treasury. NS&I, formed in 1861, is a government department and an executive agency of the Chancellor of the Exchequer. For further information, digital images, or to arrange an interview call the NS&I media team.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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