Client Goal: When two of the largest banks in the US merged, leadership sought to combine the two organizations’ custom underwriting and private banking functions into a streamlined, high-functioning division that kept the ‘best of both worlds,’ retained customers, made it easier to acquire customers, and generate revenue growth. One organization was highly automated, utilizing technology throughout its underwriting and sales processes, while the other was interested in technology and automation, but was at an early stage of consideration and adoption. At the time, all banks were under heavy regulatory scrutiny, so regulatory compliance was of the utmost concern.
Actio Solution: Actio Performance worked with leadership and select staff from both organizations to assess their current state processes, identify strengths, weaknesses, and opportunities for improvement, design and implement a new, blended, end-to-end process, utilizing automated and manual task completion and decision-making, select and promote features and functions from existing underwriting and CRM systems, establish and document critical routines and policies, and redefine, reconcile, and align leadership, management, and staff-level roles.
Result: The new, streamlined end-to-end process successfully integrated technology and human-centered tasks, accelerated decision making, improved customer experience, cleared all regulatory hurdles, clarified and implemented roles, and became the foundation for customer retention, customer acquisition, and revenue growth.
