Industry

Banking & Financial Institutions

Situation and Objectives

  • The client set ambitious growth targets for its global transaction banking division
  • The current practices varied significantly from product to product
  • There was also a ‘data issue’ that prevented top management to get a full picture of the pricing performance.
  • The pricing process was handled primarily through outdated internally developed tools

Approach

  • Simon-Kucher employed a 360° approach and studied the situation from different angles: strategy, information, optimization, implementation, monitoring.
  • Simon-Kucher sat together with top management and helped all stakeholders align on common strategic goals regarding pricing, which is the foundation for effective initiatives in every field.
  • Simon-Kucher worked hand on hand with the analytical teams to provide extensive data analysis on the current pricing performance.
  • Lastly, Simon-Kucher developed monitoring tools and trained internal resources.

Results

  • The quick wins Simon-Kucher identified during the course of the analytical phase amounted to as much as 4% of revenue increase in one year.
  • The increased revenues allowed the bank to fund additional initiatives with the aim of further staying ahead of competitors.