Business issue
A leading retail bank wanted to stabilise and expand market share, and increase revenue by optimising their range of current accounts and short term investment products. At the same time they needed to cut costs and improve margins for short term investment products.
Precise insight
To deliver the precise plans needed for growth, we provided consultancy from understanding the business problem through to implementation. Following exploratory desk research, primary research used Matrix, our systematic and comprehensive approach to opportunity identification and planning, to provide a precise understanding of the current account and short term investment markets, specifically focusing on the detail of customers’ met and unmet needs.
Supported by state of the art simulation tools, we provided the client with a clear, concise business plan based on growth-focused scenarios. They re-vamped their credit card and redefined the cost structure for consumers, optimised their investment portfolio and continued to charge for their current account.
Precise plans for growth
After implementing our recommendations the bank’s market share and profitability grew steadily year on year. Over a period of 3 years market share increased by 10% and profitability by 9%.