This leading international bank faced new competition and commoditization. Numerof helped define and implement a new relationship management model that enabled the company to bring more value to its target markets and capture a greater share of key clients’ business.

Situation

• This leading international bank was forfeiting new business from existing and prospective clients due to new competition and a fragmented customer interface.
• Numerof was engaged to evaluate the existing commercial model and define a new approach that would position the company to capture a greater share of new and existing clients’ business.

Intervention

• Numerof worked with senior management to develop a relationship management model that linked direct sales, product management, and customer service in an integrated and seamless customer interface. We identified organizational gaps and made specific recommendations for closing them.
• Numerof guided implementation of the new model, which included cross-functional restructuring, redefinition of core roles and responsibilities, changes in critical business processes, and communications to ensure a smooth transition.

Impact

• The new relationship model improved differentiation and enhanced cross-selling with a single point of contact capable of representing the entire organization and more comprehensively diagnosing client needs.
• Profitability and customer satisfaction increased, and the client remains a dominant player in its key markets.
• The new model was successfully integrated into the existing company infrastructure.  Retention of key employees improved, and the performance was sustained by implementing robust approaches for hiring and promoting key individuals.