Digital channel assessment and strategy

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A regional bank’s wealth market group prioritizes which enhancements to their digital capabilities would be most impactful to clients and bottom line results.

Client’s challenge

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.

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PwC’s solution

  • 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.

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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.

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How PwC can help your business

PwC’s financial services data analytics practice is comprised of more than 200 professionals offering a full range of advisory solutions across: financial risk modeling, risk analytics, customer analytics, data analytics strategy and organization, and data analytics technology.

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Julien Courbe

Julien Courbe

Financial Services Leader, PwC US

Anand Rao

Anand Rao

Global & US Artificial Intelligence and US Data & Analytics Leader, PwC US

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