Case Study: Improving the end-to-end experience journey to drive customer retention and revenue growth.
Banking – Private Wealth Transformation - $20+ Billion Banking Corporation
March 31, 2020

Challenge

Re-imagine the product and service experiences for customers, bankers and advisors to drive customer retention and revenue growth.

  • Increase customer retention by 40%, uplifting fee income $100m p.a.

  • Activate customer experience team to sustain and improve results in line with evolving customer expectations

Approach

“Simple, Valuable and Easy to Use”

  • Mapped and measured current state experience and performance

  • Defined experience strategy, target service design, digital roadmap and event-based marketing campaign

  • Developed prioritized solution backlog, mobilized cross-functional team and activated design and delivery flow, prototyping and scaling solutions to achieve the objectives and key results

Results

“$285M annualized revenue growth delivered from target state deployment”

  • Introduced new Customer Engagement Model and Digital Advice Platform

  • Increased retention over 50% in target customer segment

  • Uplifted digital experience (service quality) rating by 78%

  • Established Service Experience Hub, tracking to deliver over $1Bn of value

Final Thoughts

Achieved annual breakthrough goal within 9 months, driving decision to scale Customer Journey Lap to form the bank’s first Service Line “Experience Hub”

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