Private Banking and Wealth Management

The brief

An international bank commissioned us to support them in Private Banking and Wealth Management. The following problems had to be solved:

High operational and reputational risks due to in-house solutions with numerous manual interfaces, costly maintenance and ongoing development
Insufficient E2E digitalization of core processes and low level of automation
Risk of competitive disadvantages due to existing product and service offerings
Lack of cost efficiency and no realization of possible additional revenue potentials

Conducting a feasibility study incl. evaluation of alternative target solutions
Design of the target operating model and target IT architecture and infrastructure for outsourcing defined functions and activities to an external asset manager
Program planning for a strategic 4-year initiative
Methodical, functional and technical support for the agile implementation of new requirements (20+ banking applications)
Implementation of an innovative, digital E2E process landscape and IT target architecture
Test management, migration and release management
Development of the product specification and launch of an innovative new discretionary portfolio management product

NNA increase and realization of additional earnings potential
Reduction of existing operational and reputational risks through process automation (digitalized and integrated E2E processes)
Cost saving effects by outsourcing defined functions and activities to an external asset manager
Competitive advantages due to a new, state-of-the-art wealth management platform and the offered customized product and service portfolio