A multinational bank with a presence in over 70 countries identified a trend in its feedback from customers who were frustrated they had no visibility on the status of their on-boarding. To make matters worse, they were being asked for the same information twice, and across different touchpoints. And their impatience increased as time went on before the process was complete.
The client realized customer concerns could not be dealt with in isolation. It required a more long-term, systematic solution and therefore asked BCG Platinion to design an IT architecture that would provide end-to-end tracking for corporate on-boarding. BCG Platinion began by analyzing the various on-boarding processes that differed across three markets. Based on our insight and revelations on the level of fragmentation, we worked with business users to test different solutions in multiple workshops.
Our approach helped the client gain clarity on how a tracker will bring value to the business, how it will expedite decision making and how it will be implemented. The client was then able to launch and manage a new tracking platform, which we could optimize throughout the digital transformation.
Looking to the future
Providing visibility for customers, and business users, was the first step in alleviating key pain points. This led to customer satisfaction rising sharply simply because customers felt the bank was in control and on track with their application.
Enhanced visibility has also allowed the bank to troubleshoot problems before they even become problems. And this has a domino effect across the entire organization with a platform that is continually being optimised.
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