How Capco delivered an Operational Excellence and Process Management transformation for Virgin Money

WHY NOW?

Virgin Money operates in a competitive and heavily regulated banking market where customers expect seamless service and regulators demand strong control over processes and risks. Growing operational complexity and a lack of consistent visibility across key customer journeys exposed gaps in governance and day-to-day execution. 

To maintain high service standards at scale, the bank required a clearer view of how its operations were performing and a structured, scalable approach to improve efficiency and control.
Capco was brought in as a strategic partner to help the bank assess its current capabilities, identify inefficiencies and build a more robust framework for operational excellence and process management.

HOW WE DID IT:

Capco began the engagement with a comprehensive Operational Excellence maturity assessment across 21 teams within Virgin Money’s Customer Servicing and Operations function. Working alongside teams in Retail Operations, Fraud, Financial Care, Complaints, Collections, Mortgage Operations and Branch operations, the team developed a clear, evidence-based view of current performance and priority areas for improvement.

Using these insights, Capco shaped a structured approach to strengthening operational oversight and consistency. The team collaborated with stakeholders across the bank to improve visibility, reinforce performance routines and bring greater alignment to day-to-day practices, addressing differing levels of governance maturity and operational discipline.

As the program evolved, its scope grew to include the creation of a Process Management Centre of Excellence. Additional Capco specialists were onboarded to support its design, with an interim Head helping to set new standards, embed best practices and transfer knowledge to internal teams.

WHAT WE DELIVERED:

The program equipped Virgin Money with a scalable operational management framework that delivers both immediate and long-term value. This uplift strengthened visibility, governance and consistency across key customer journeys and established a solid foundation for continuous improvement.

Capco delivered:

• More than 100 detailed Level 4 process maps and Standard Operating Procedures to reduce ambiguity and improve handoffs across teams
• Standardized operational dashboards that enhanced visibility and supported informed decisionmaking
• A prioritized backlog of improvement opportunities aligned to impact, complexity and readiness
• A fully established Process Management Centre of Excellence, with an interim Head provided by Capco to embed new practices and transfer knowledge
• Scalable frameworks, guidelines and reusable assets to enable consistent process documentation, review and improvement

Together, these outputs created a more robust, transparent and efficient operational environment that will support Virgin Money’s long-term governance and customer experience goals. By supporting the creation of a new internal function and providing hands-on leadership support, Capco went beyond its initial remit and strengthened its position as a trusted transformation partner.