Engagement #1
Overview
A little big picture
Bank Strategy: 100+ Year Old Community Bank, Traditional Lender, Private Banking, Wealth Management, Well-capitalized, Strong Portfolio, Maintain Market Presence, Increase Use Of Technology, Fintech Initiative
Structure: Good Branch Network, Technology Outsourced, Middleware Development In-house, Steering Committee, Innovation Committee
Online presence: Focused To Their Market, Digital Experience Lacking
Other Comments: Progressive Management, Traditional Team
Engagement: Digital Strategy Assessment, Retail & Business, Gap Analysis, Future Digital State, Recommendation to Improve the Digital Experience (Consumer & Commercial), Technology To Support Future State
Top 100 Bank
Size: $22 Billion+
1. Research
Highlights - Qualitative and Quantitative / Observational
- 86% of Consumer & Business Customer – Bank is primary
- 69% believe Bank is current and meets their needs (80% Retail / 48% Commercial)
- 50% + want improvements to online / web banking, and ATMs channels
- 42% of the Customers, believe people can’t be replaced
- Enjoy going into the branch, in some cases part of their social calendar
2. Future State
Highlights
- Being a High-Performance institution as defined by target metrics including 40% of revenue from fees
- Achieve growth within defined geographic market (i.e., within 2 hours)
- Focus on businesses headquartered within Bank’s geography and their principals and executives
- “Continually evolve and test delivery concepts, in physical locations and digitally, to provide seamless and stellar Customer experiences that are relevant and aligned with Customer behavior”
3. Recommendation
Highlights
- Implement an ongoing committee that will provide trends that will predicate the future for Bank
- Create a segmentation strategy that identifies the optimal customer segments based on the overall business strategy of the Bank. Within your segmentation strategy, define the technology needs for your segments to deliver a best in class end-client experience for each segment
- Provide a digital experience for existing customers through their life stages.
- Implement chat on the website or through mobile video chat
- 20+ additional Recommendations
4. What Happened Next
Highlights
- Advised And Collaborated With Bank On Developing Segmentation Strategy
- Targeted / Optimal Customer
- Consumer & Business Client Needs / Technology
- Managed Evaluation of various solutions & Related Contracts
- Online Banking / Cash Management / Mobile
- Online Portal
- New Account Opening
- Loans – Consumer / Card / Commercial (in process)
