The client is a prominent financial institution in the United States, boasting a substantial workforce of approximately 90,000 individuals. It caters to a considerable customer base of approximately 22 million individuals across various strategic financial hubs worldwide. The organization provides various financial services, including auto financing, investment banking, capital market solutions, etc. These services are available through a vast network of branch offices, ATMs, wealth advisors, and online portals, catering to individuals, small, medium, and large enterprises.
The client was accustomed to employing traditional methods to introduce their products or services to the market. However, because of recent changes caused by technology, customers’ expectations about what they want from a business have changed. This created some problems for the client, and they faced the following challenges:
- Delay in product delivery or related updates due to complex business processes
- Inability to provide the best and most seamless experiences to the customers
- Incompetent to keep pace with a rapid transition to the digital era
- Unable to fight the fierce global digital competition