Engagement #1


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

  • 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

  • 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

  • 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)