Case study

Developing a single view of the customer: A data driven approach

Lead partnerMatt Beattie

Our Client, a top US bank, required a single robust view of their client population in order to provide assurance to senior leadership that effective control and oversight were in place. However, they faced a challenge where different requirements (regulatory, business development, account maintenance) utilised different views of the client population which resulted in a lack of clarity around the makeup of the overall client population.

Our Client needed a partner who could bring both data capabilities coupled with a deep expertise in the client operations and lifecycle environment in order to develop a single customer view.

Industry segment
Global Investment Bank
Function
Client Onboarding
Core capabilities
Dashboarding & Reporting

Key outcomes delivered

Provided assurance around the control environment by establishing a single view of the client population, for use across all levels of the organisation, from the Executive to the operational analysts.
Reduced operational costs through the identification of >150 client profiles being maintained on the platform that the business did not require and could be removed.
Ensured data alignment across the organisation by establishing a repeatable, robust process, creating the client population directly from source system data.

Results

Client Profiles

Identified as not required on the platform, reducing operational costs.

Time saved

0 hours

Due to automation of the client population production process.

Outcomes

0 drivers

Quantitative drivers defined (financial, relationship, risk) to assess whether a client should be considered for offboarding / exit.

Challenge

Overcoming varying criteria and data

Our Client had multiple objectives when assessing their client population, covering business development, regulatory compliance and operational effectiveness. Owing to the varying criteria applied, the result of each individual assessment varied. This was an area of concern for the senior management who wished to ensure that the complete client population was known at all times.

As a result, the Client wanted to establish a single, systematically driven approach in order to report on the complete client population at any point in time.

Approach

Discovery, collaboration and refinement

BeyondFS combined two core skillsets to deliver the initiative for the Client – detailed data analysis and client lifecycle subject matter expertise. Working closely with the Executive Leadership team the critical requirements were captured, refined and validated to ensure there was the necessary clarity and precision required to successfully conduct the exercise.

We took full ownership of the project and worked collaboratively with the Client’s key stakeholders and technical experts to identify, capture and clearly document the data sources needed and logic to be applied in order to build a robust and repeatable process for the creation of the total client population.

Data sources and logic were rapidly validated using tactical solutions, before engaging with the Client’s technology teams to build the requirements into the in-house platforms.

With the process working effectively and efficiently, detailed training sessions were held and handover documentation prepared to ensure the Client’s own teams were able to own and support the process going forward.

Outcome

Recommendations for the short and the long term

The initiative successfully provided the Financial Institution with a complete, central view of their client population for the first time. It combined and cross referenced data from multiple source systems, highlighting discrepancies between the various sources.

We enabled our Client to:

Have a complete view of their client population which provided assurance around internal controls;
Identify relationships that were no longer active and did not need to be maintained, lowering the operational cost base; and
Identify client profiles that were incomplete or required further attention, so this information could be rectified in the source systems, improving accuracy of end client records.

The Client was able to confidently state their client population and use this to focus their business development activities to drive future revenues. Furthermore, it allowed them to ensure that the mandatory regulatory activities had been completed for all clients in the population feeding into their control and compliance organisations.

"The BeyondFS team partnered with the front office business teams throughout, driving material change within the organisation. The collaborative approach and their willingness to roll up their sleeves and own the challenge has been fundamental to the success of the programmes they have delivered."

Nick Bennett

Head of EMEA Markets