Customer Channels & Operations Management, Business Analytics & Data Management, Risk Management & Regulatory Compliance
1 minute read
Mar 3, 2021
Written by: Scott Hamilton
Digital transformations are designed to make things easier for customers and banks. In the process, however, companies often face unexpected hurdles. Using these moments to address emerging challenges is important, but there’s also much to gain from taking a step back – and, when necessary, leveraging an outsider’s eye and experience – to see if other meaningful opportunities have been overlooked.
In the middle of a data transformation effort, a Top 30 bank uncovered several issues – many of which it could address on its own – with its credit card marketing system, but it wanted a fresh perspective from an external partner to identify any areas for improvement it might have missed. Bringing in our marketing operations experience, Spinnaker analyzed every procedure, technology and team involved in the process, looking to improve operational efficiency and reduce regulatory risk.
After presenting our report and prioritized recommendations, we were asked to optimize the end-to-end process for all creative and disclosures. As part of the project, we documented rate and fee packages while also identifying misalignment across related web and collateral pages.
Our strategy delivered detailed and redesigned maps of the creative and disclosure process, which streamlined resource assignments and handoffs. By taking advantage of our financial services-specific solution, the bank is now positioned to transition an effective, compliant marketing operations system to the future-state process.
Read our Marketing Operations case study to find out how Spinnaker helps financial institutions close gaps and seize on untapped opportunities during digital transformations.
Rick Jaros is Spinnaker’s own Jack Ryan. But who knew that an early career chasing Russian submarines under the ice was the perfect training for guiding some of the world’s largest financial institutions in their digital transformations? As it turns out, the common denominators are stealth and strategy.
Customer Channels & Operations Management 2 minute read
The Big Picture For years, financial institutions have been prodding their customers to take care of more of their banking tasks online. After all, digital experiences offer customers with the ease of handling routine tasks such as depositing checks and transferring money between accounts whenever and wherever they want. For banks, creating end-to-end digital channels offered the potential to generate savings, but only if customers went online and consequently retired their branch and telephone usage patterns. Then came the coronavirus pandemic – which created the perfect opportunity for banks to broaden their digital transformation. And customers have never been more ready to bank online.
Customer Channels & Operations Management, Business Strategy, Change Management 2 minute read
While banks have been attempting to migrate customers to digital channels for more than a decade, the COVID-19 pandemic has been the biggest (and most effective) driver for this consumer behavioral shift. But as banks ready themselves for a post-pandemic future, a recent Credit Karma/Qualtrics survey finds that even among staunch pre-pandemic, in-person bank customers, many plan to continue banking digitally.
Change Management, Capability Delivery, Digital Transformation 1 minute read
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