Industry
Company Profile
- Consortium of three regional banks
- $150m annual revenue (total)
- $6bn assets under management (total)
- Universal banks offering payments, savings, brokerage and financing services for private and corporate clients
Situation and Objectives
- Introduce digitally enhanced advisory process to guide RMs
- Design advisory solution bundles to best meet different customer needs
- Optimize pricing to steer customer decision and compensate for revenue lost due to regulatory changes
Approach

Results
- Defined 3 customer-oriented advisory bundles
- Redesigned advisory process in alignment with regulatory requirements
- Introduced state-of-the-art advisory technology to support RMs and professionalize advice
- Re-priced entire client base (>50k clients) and prepared hard migration (migrated on a due date)
- Trained entire sales force on new advisory process, solution bundles and client migration to ensure successful implementation
Impact
- 5%-7% profit(after loss of commissions)
- 100% of client advice compliant with regulation
- 20% efficiency gains(due to reduced RM admin)