2020 could have been a year unlike the past, but 2021 was a crack in the old block that was never-ending from the start. The chief of the savings bank informs us of 12 months more of tackling Covid and other new issues.
What was your favorite thing you did in 2021?
The release in October was of National Savings and Investments’ Green Savings Bonds. The bonds were made public by the chancellor of the Treasury in the 2021 March Budget and offer UK savers the chance to contribute to government spending plans which will speed up the transition towards a low carbon economy, generate green jobs and take part in the global effort to combat climate change.
These projects include the creation of cleaner transport and more sustainability by using renewable energy in place of fossil fuels, eliminating pollution by using energy efficiently while protecting natural resources, and adapting to the changing climate.
Along with saving the planet, Savers will receive an annualized return on their investment. They will also enjoy the 100% guarantee offered by NS&I on any capital investment.
How did you address the biggest challenges confronting your company in 2021?
The first quarter of 2021 was a difficult time for NS&I as we worked on healing from the operational issues impacting the quality of our customer service.
We worked with our outsourcing partner, Atos, to develop an operational recovery strategy that included the opening of new call centers as well as recruiting more customer service employees. The plan was implemented on time in the autumn of 2021, and we’re now providing services that are pre-Covid.
I’m also very proud that after working on the operational recovery, we were able to secure approval and funds to fund the long-term evolution of the business and the renewal of our contract for operational services. The NS&I’s Rainbow program will allow NS&I to a multi-supplier operational model, which will ensure the company has a solid, resilient infrastructure and a scalable and flexible operation that will continue to support people who save and the government for the foreseeable future.
Then the day came when our Government Payment Services (part of NS&I) began to administer the Mortgage Guarantee Scheme that was also made public in the budget for March 2021.
This required amazing teamwork across NS&I, including those who work in the office to those who work at home.
What is your top priority in 2022?
2022 is the year of the century for the Rainbow program, as we intend to make significant progress in acquiring all the services we’ll require shortly. This will allow NS&I to keep delivering our “Inspire and invest” strategy and achieve our dream of becoming a self-service business that provides support to the most vulnerable and marginalized.
Which mythical, historical, or current person would you prefer to have as a guest at your Celebration of New Year’s Eve?
Hemiunu is the one who was responsible for the building of the Great Pyramid of Giza. It’s a fantastic chance to learn how to build it and find any more hidden secrets!
