Consulting case studies

Apr 01, 2014

Transforming a bank from direct to digital

A large financial services firm moves through an extensive business transformation, integrating third-party systems and services efficiently to create a new digital bank.

Client challenge

After almost a full year of assessment and strategic evaluation, the senior leadership of a large insurance and financial services company decided to undertake a multi-year digital transformation program. The goal: to build a consumer-focused digital bank that integrates leading mobile, tablet and online banking solutions, creating a tailored customer experience and drives transactions.

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PwC's solution

PwC designed an enterprise framework that would efficiently integrate new third-party service providers, and allow the company to expand its capabilities through the adoption of market-leading technology. Building a superior customer experience through the mobile, tablet, and online channels was critical to the digital transformation. Our team helped design a solution that allows the company to create a consistent experience across channels by decoupling the presentation layer from underlying banking functions. Moving to a services-oriented architecture allows the company to integrate features from multiple vendors into a single interface and creates the opportunity to redefine how customers transact with banks.

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Impact on client's business

It’s interesting to note the progress the company has experienced so far. Previously, its banking operation was an additional service it provided for its insurance customers. The new digital bank is now positioned to begin acquiring new customers and is a means for deepening relationships through increased transactions and expanded customer insights. 

We were well prepared to work with our counterparts at the company, who had little banking or integration experience, to help them create a vision. We brought – and continue to bring – our experience in the banking business and in technology and thorough system integration to help the digital bank come to fruition and give the company a new way to grow.

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"The new digital bank is now positioned to begin acquiring new customers..."


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Tom Puthiyamadam
Global Digital Services Leader
Tel: +1 (646) 471 1490

Chris Curran
Chief Technologist, PwC New Ventures
Tel: +1 (214) 754 5055

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