Background
Non-bank Health Savings Trustee focused on providing best-in-class health savings accounts (HSAs) for employees. The client’s HSA included access to Vanguard institutional class fund shares and a FDIC-insured savings account. The products end-users included Participants, Producers, Partners, Sponsors, and Administrators.
Challenges
An outdated user design and siloed architecture resulted in the inability to provide a unified view of participant data, a lack of self-service capability, frequent end-user account lockouts, high support call volume, lack of confidence, and low customer satisfaction.
Solutions
RTS designed an intuitive, secure, role-based interface that consisted of five different portals and an integrated back-end.
Results
- Increased customer satisfaction and portal usage by 40%
- Significantly reduced support call volume, which allowed customer support to upskill on HSA expertise and education.
- Increase in customer transactions (both card swipes and investments) which increased overall revenue and profitability in AUM.
- In 2021, ranked as the “best overall” HSA by Investopedia. Acquired in 2022 by a publicly traded financial and business services firm.
