Banking on a big transformation

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A top-15 retail bank transformed its operations across consumer, commercial, and shared services functions, reinvented nearly all of its processes to create a more effective and efficient environment.

Client challenge

To address and improve its business processes in search of efficiency and better customer experiences:

  • Inconsistent client experience due to inefficient processes and too many hand-offs.
  • Too much fragmentation across teams with duplication of processes and activities.
  • Limited accountability and responsibility for end-to-end business processes.

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PwC’s solution

Design and help implement cost-saving process improvements by:

  • Analyzing the bank’s current state with time-motion studies and process walkthroughs and understanding its challenges through the use of key performance indicators, performance levers, comparisons to benchmarks, and leading practices.
  • Redesigning the processes with a focus on agility, efficiency, and a better overall customer experience.
  • Completing a transformation that improves processes and improves customer service.

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Impact on client’s business

  • The company achieved $30-50 million in first-year identified savings as the operational changes were launched, with $8 million benefits achieved almost immediately and $30 million savings achieved and captured in the P&L.
  • The transformation has enhanced the customer experience at all touchpoints to position itself for growth.
  • The company has created a culture of continuous process improvement.

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"The bank hopes to achieve up to $50 to $80 million total savings once all the elements of the transformation are in place."

Contact us

Vinay Couto

Vinay Couto

PwC's Strategy&, Principal, PwC US