End-to-End Digital Overhaul Positions Leading Regional Bank for Growth

Summary

A prominent American regional bank operating 430 branches in the Midwest was struggling to keep up with competitors due to outdated technology. Altimetrik partnered with the bank to execute a comprehensive digital transformation, modernizing systems and enhancing customer experience. This initiative resulted in a 250% growth in new accounts, 90% productivity improvements, and a 30% increase in retail business.

The Challenge

The bank faced significant obstacles that hindered its growth and operational efficiency:

• Aging Retail Products: Legacy systems limited growth opportunities by failing to meet evolving customer demands.
• Siloed Systems: Disconnected systems prevented efficient cross-selling and upselling in the SMB division.
• Lack of a 360° Customer View: Sales and service teams lacked comprehensive insights into customer relationships, impeding personalized interactions.
• Data Integration Challenges: Mergers and acquisitions were hampered by the inability to integrate siloed data effectively.
• Compliance Shortfalls: Generating accurate, timely compliance reports was a constant struggle due to unreliable data.
• High Operational Costs: Inefficient computing processes drove up expenses, reducing competitiveness.

The Solution

Altimetrik implemented a phased, end-to-end digital transformation that addressed the bank’s challenges while ensuring minimal disruption:

1. Data Integration and Centralization:
   • Unified 10+ retail and lending systems into a single source of truth.
   • Reduced data redundancies and enhanced accuracy through robust governance and quality rules.
2. Customer-Centric Enhancements:
   • Developed a 360° customer view to enable personalized services and improve cross-selling and upselling.
   • Seamlessly integrated customer-account relationships across retail and business banking.
3. Technology Modernization:
   • Created a Data Lake and Real-Time Operational Data Store (ODS) using Informatica Power Exchange and Cassandra, ensuring real-time updates from legacy systems.
   • Delivered 30+ real-time APIs to simplify system integration and enable scalable enhancements.
4. Advanced Analytics and Agility:
   • Embedded predictive analytics to enhance decision-making and customer targeting.
   • Adopted agile methodologies to accelerate development and deployment, reducing time-to-market.
5. Operational Excellence:
   • Delivered the solution in manageable phases to avoid disruption and ensure swift value realization.
   • Provided end-to-end support, from architecture consulting to testing and rollout.

Benefits Delivered

The digital transformation delivered remarkable improvements in the bank’s business and operations. Enhanced mobile and online banking services resulted in a 65% increase in digital adoption, while improved user experience in mobile banking drove an 85% growth in deposits. Simplified services contributed to a 50% rise in e-bill subscriptions, and better service capabilities translated into a 30% increase in retail business growth. productivity, and agile processes enabled the bank to achieve a 20% faster time-to-market for innovations.

• 250% Growth in new account openings due to scalable and customer-centric solutions.
• 90% Improvement in productivity from streamlined operations and reduced manual efforts.

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