Is your financial institution ready for the digital revolution?

Multi-channel management goes beyond the mere provision of products and services through different sales channels. A multi-channel strategy requires significant adjustments in product and process management as well as in customer service models. The previous “silo mentality” must be replaced by stringent, customer-oriented planning and action. Processes must be coordinated with each other. Additionally, products and services must be developed to be multi-channel-capable, for example, by distinguishing between basic services and channel-specific additional services.

hpo is a specialist for the design of multi-channel-capable high-performance organisations – from the identification of actual customer needs to the provision of services and the optimal organisational structure. Close cooperation with our clients’ employees ensures that not only internal knowledge and existing ideas are taken into account. At the same time, those affected are made participants, which guarantees the reliability of implementation.

In this hpo Insights, we present two reference projects for a successful digital transformation.

Practical example Credit Suisse – Private and Wealth Management Clients CH

Today, customers want to deal with simple requests online. For complex issues, there is a demand for seamless multi-channel advice. hpo has supported Credit Suisse in translating this changed client behavior into a future-oriented business process model, which also significantly relieves the relationship managers of small administrative tasks.

In response to changing customer needs and the ever-increasing administrative tasks in the front office areas due to the density of regulation, Credit Suisse is pursuing a consistently customer-focused multichannel strategy.

Aims of the project

As part of the “66% Client time” program, various measures were to be worked out to make it easier for the affluent relationship manager to focus on his/her core tasks of client consulting and development. A continuous multi-channel consulting service was to be made possible.

Approach

To analyze today’s services, roles, and responsibilities along the business relationship cycle, the project team chose a “top-down-bottom-up” approach. While representatives of top management in the front, mid and back-office presented their visions, interdepartmental workshops were held to describe and analyze services and representative business cases. Based on these findings, the project team developed a multi-channel-capable business process model with clear roles and end-to-end responsibilities for all affected departments.

To raise the identified potentials for increasing the client time of affluent relationship managers, the project team developed an implementable pilot concept for the client servicing process, which is now being tested.

Practical example Credit Suisse – Private and Wealth Management Clients CH

Bonviva is an attractive banking package offered by Credit Suisse to establish the main banking relationship. The digitization of central value creation steps helps to significantly enhance the customer experience and internal efficiency in the provision of services. hpo was commissioned to create procedural and organisational prerequisites.

Aims of the project

The aim of the project supported by hpo was to consistently align the service provision process for Bonviva in a customer-oriented manner and to identify process-related and organisational measures to increase internal efficiency. The business requirements defined in the process ultimately served as the basis for the development of a suitable IT application.

Approach

A consistent “top-down-bottom-up” approach was chosen for the analysis of the initial situation.  An accurate understanding of the value proposition and the Bonviva product architecture was crucial. The provision of services was systematically analyzed using representative business cases, as was the understanding of the roles of the partners involved and the changing framework conditions.

Against the background of the fields of action identified in the current state analysis and based on the target picture defined in the “66% Client Time” program, the project team identified a new process and organisational structure as the basis for developing the application.