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DEEPER CUSTOMER CONNECTIONS THROUGH

INDUSTRY

Banking

OUR ROLE

Operations and Digital

In response to a dynamic environment and increasing demand for agile, digital services, the largest ethnic minority-owned bank in the southern United States partnered with London Consulting Group.

This comprehensive project focused on operational efficiency, digitalization, and organizational redesign. The aim was to transform the institution into a modern, customer-centric entity prepared for sustained growth.

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CHALLENGE

TRANSFORMING FROM OPERATIONAL TO STRATEGIC AND DIGITAL: THE PATH FORWARD

In a highly competitive environment, the bank faced the challenge of evolving its operations amidst sustained growth and increasingly complex regulatory demands. Despite a robust foundation, an accelerated internal transformation was essential to maintain relevance, efficiency, and profitability, all while upholding a steadfast customer-centric approach. This scenario required a thorough intervention to synchronize operational, technological, and organizational capabilities with a more agile and strategic business outlook.

  • Improve profitability by reducing the efficiency ratio.
  • Accelerate key service processes.
  • Advance digitalization and automate processes.
  • Optimize the organizational structure.
  • Decrease fraud and transaction losses.
  • Strengthen marketing efforts and customer retention.
  • Encourage the adoption of digital channels.
  • Integrate information for enhanced business intelligence.
  • Guarantee the operational sustainability of implemented changes.
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OBJETIVE

CRAFTING A STRATEGY FOR THE BANK'S NEXT CHAPTER

Our partnerships’ primary goal was to enhance operational performance, improve institutional efficiency, and strengthen the bank's internal capabilities, all while maintaining a customer-centric approach and embracing digital transformation. This was achieved through a comprehensive, cross-departmental initiative.

A structured and collaborative methodology guided the project's development, emphasizing:


Active participation from top management and executive leadership.


Prioritization of strategic initiatives for impactful outcomes.


Implementation of robust, efficient, and sustainable work systems.


Optimization of organizational structure and internal processes.


Identification of opportunities for automation and digitalization.


A strong focus on improving customer service and generating shareholder value.
IMPLEMENTATION

KEY TO AN EFFECTIVE AND SUSTAINABLE TRANSFORMATION

Working closely with the bank's teams, London Consulting Group implemented concrete solutions to optimize operations, modernize key processes, and strengthen the service culture. This collaboration focused on generating sustainable changes, aligning the organizational structure, internal processes, and technological capabilities with the business strategy.

SIGNIFICANT ACHIEVEMENTS

  • Optimized processes and reduced service times through the application of a Lean Banking approach.
  • Integrated critical data into a Business Intelligence platform.
  • Developed capacity plans and redesigned organizational structures for various departments.
  • Identified and mapped digitalization and automation opportunities.
  • Improved the efficiency ratio by over 20 percentage points.
  • Implemented work systems to drive net account growth.

A PARTNERSHIP DRIVEN BY COMMITMENT AND EXCELLENCE

  • Top-level commitment from management and executive leadership.
  • The integration of efficient systems, suitable organizational structures, and relevant technologies.
  • The bank's unique service ethos is consistently client-focused.
  • London Consulting Group's collaborative and results-oriented methodology.
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RESULTS

WHAT HAPPENS WHEN STRATEGY TURNS INTO REAL VALUE?

The bank's transformation collaboration yielded tangible and measurable impacts across multiple strategic areas. Key advancements in operational efficiency, digitalization, and organizational improvement enhanced institutional performance and strengthened the value proposition for customers and shareholders.

RESULTS

56% to 38%

Decrease in the efficiency ratio.
+ 16%

increase in active accounts and online transactions.
+13%

increase in card transactions.
+12%

increase in the average number of transactions per card.
6X

more transactions in mobile wallets.
9%

increase in activation ratio.

RETURN ON INVESTMENT

This collaboration’s financial results solidified its position as a highly profitable investment for the bank:

Roughly one year post-completion, the project yielded an estimated ROI of 4.6:1.

These results highlight not only immediate improvements in key performance indicators but also the bolstering of the bank's internal capabilities, ensuring sustained growth. The bedrock of a more agile, competitive, and future-ready institution was laid through a blend of operational efficiency, digital transformation, and a strong client focus.

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TESTIMONIALS

WHAT OUR CUSTOMERS SAY

"London Consulting Group has become an asset for us."

READY TO BOOST THE GROWTH OF YOUR FINANCIAL INSTITUTION?

London Consulting Group designs comprehensive strategies that merge operational efficiency, digital innovation, and analytics. We aim to elevate your banking operation, delivering tangible and sustainable results.