Case Studies

Transforming European Bank’s Retail and Business Banking businesses

A leading European bank needed to transform its Retail and Business Banking businesses by improving their cost: income ratio, optimizing the branch network and centralizing operational functions and processes.

Transforming European Bank’s Retail and Business Banking businesses

THE CHALLENGE

A leading European bank needed to transform its’ Retail and Business Banking businesses by improving their cost: income ratio, optimizing the branch network and centralizing  operational functions and processes.

HOW WE HELPED

  • Set-up appropriate governance arrangements and ensured stakeholder engagement;
  • Developed design principles and a ‘blueprint’ with clear business and customer outcomes;
  • Designed a target operating model featuring key businesses, functions, products and customer interactions;
  • Set-up key work streams (e.g. Operations, IT, customer communications), defined the plan, appointed key resources and agreed over $3.4 million budget for the project;
  • Managed multiple teams to perform workstream activities (e.g. IT portfolio, migration of operational processes) and deliver products against desired outcomes;
  • Integrated Post Office as a new banking and transaction service for customers (access to over 450 outlets);
  • Assessed risks and determined mitigation including regulatory compliance with the Access to Banking Standard;
  • Tracked benefits (e.g. FTEs, cost:income ratio etc) against project deliverable and outcomes.

RESULTS

  • Improved customer segmentation and proposition for respective Retail and Business Banking customers resulting in improved interactions and sales;
  • Enhanced customer service offering by implementing Post Office branch support (access to over 450 outlets);
  • All customers contacted and guided to new services which saw an increase in transaction volumes;
  • Achieved cost savings through reduced branch network and reduced FTE requirement in new target operating model;
  • Achieved regulatory compliance with Access to Banking Standard and Treating Customers Fairly obligations.

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