With lack of integrated and seamless digital customer experience, manual internal processes and fragmented and older systems, the client needed to understand which wealth customer segments were under and over-performing and the potential growth opportunity coming from those segments if key digital capabilities are improved.
- Used PwC’s proprietary Digital Banking & Payments survey to define and size populations with digital preferences within the client’s wealth management geographies and overlaid physical location information to narrow in on priority geographic areas.
- Identified and prioritized key 5 key customer segments to target for digital servicing and targeting and which key features and functionality were most important based on consumer preference and usage of digital channels versus traditional channels and desirable geographic locations.
- Delivered a clear assessment and sized $61B in asset growth opportunity brought by digital segments and a shortlist of digitally underserved segments, thereby helping identify gaps in digital channel strategy.
- Developed a three year implementation roadmap to enhance the client's digital ecosystem, including 16 groupings of capabilities and 6 foundational prerequisite projects to drive change.
Impact on client’s business
Identified executable projects to help the client increase share of wallet in current base, deepen wealth penetration across bank clients, improve relationship manager experience, improve operational efficiency and compliance, and improve customer retention and engagement.