Client lifecycle management transformation – European Private Bank

European Private Bank

Client lifecycle management transformation – European Private Bank

Consistent and automated client lifecycle management with reduction of manual steps, improved time-to-market and faster onboarding time

The Challenge

The current client onboarding process of the bank does not meet all regulatory standards (e.g. missing audit trail) and the user experience is considered as poor given there is no integrated guidance or transparency on the process status. Main stakeholders within front office, compliance and formalities communicate extensively via e-mails and maintain multiple versions of Excel files in order to track pending cases. The high number of manual efforts for searching/collecting data, monitoring conditions, preparing reports etc. is prone to errors. Additionally, there is no golden source capturing and tracking all the relevant client information.

The approach

In Phase 1, Eraneos conducted anas-is analysis of the current process documentation, data governance model and system landscape. The focus was hereby on the identification and prioritization of process gaps, key issues and major risks around the current CLM processes.

In Phase 2, Eraneos used the findings of Phase 1 to benchmark CLM processes to good market practice and design of proposed target solutions / TOM. Business requirements were specified, driving the proof of concept and MVP including selection of best-fit vendor for CLM tool. Eraneos planned and orchestrated the transformation of CLM process with iterative feedback loops (agile) incl. engagement of key stakeholders (closed user group).

A European Private Bank with dedicated wealth management offices and trading floors in Switzerland and active in many markets over the world offers bespoke and innovative financial services which help private wealth and businesses to flourish and support financial professionals in developing their activities.

The Result

By transforming the end-to-end client lifecycle process (covering e.g. account opening, AML alerts, transaction monitoring) and introducing a workflow tool more than 90% of manual activities were automated. As a result the time spent on capturing and amending KYC information, carrying out compliance assessments and checking formalities were significantly reduced. Also, the number of errors occuring when capturing KYC data was decreased improving overall quality of data. In addition the new process addresses all regulatory requirements and introduces a full audit trail. Finally stakeholders of the bank can easily track progress of cases and are able to provide on-demand transparency about pending, open and rejected cases.

Roman Regenbogen Eraneos Switzerland Banking Financial Services

Roman Regenbogen

Senior Manager


Organizational Excellence & Transformation

+41 58 123 93 20 LinkedIn