Client Background
The client is a leading investment firm in KSA offering Investment Banking, Wealth Management, Asset Management and Brokerage services
Business Problem
- The client required support in improving their existing client-facing processes in order to ensure that customers are provided with the best possible service
- The client also wanted to migrate its existing offline customer base to more cost-effective channels
Solution Overview
- Acuvon worked with the client team to identify the key challenges across all customer touch points through the use of its proprietary gap analysis framework
- Documented the As Is process for customer-facing processes by conducting interviews with heads of all the concerned departments
- Identified key challenges across all customer touchpoints through the use of a gap analysis framework
- Redesigned the customer-facing process by clearly defining responsibilities to avoid duplication of work, eliminating non-value adding high turnaround time processes and improving existing forms
- Developed and implemented a plan for customer migration from offline to the online channel
- Classified customers based on their existing channel usage patterns
- Created customer micro-segments based upon their transaction channel preference and total value traded
- Proposed measures targeted toward each micro-segment for changing customer behavior
Business Impact
20%
Increment in customer satisfaction through the redesigned processes
80%
Of offline customers shifted to cost-effective online channels