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Case Study: Transforming Customer Experience with Agile Tech
A leading global wealth management company sought to redefine the customer experience, facing intense competition from disruptive fintech firms offering advanced digital services. EY was engaged to help develop innovative client-centric solutions that would not only retn existing customers but also attract new ones.
EY utilized a design thinking approach focused on meeting client needs through collaborative innovation and agile :
Conducted over 50 client interviews.
Organized three-day Ideation Workshops globally, involving stakeholders to identify potential initiatives totaling 75. Key priorities were then narrowed down to 15 projects covering five areas:
Better data management
Personalized digital platforms
Integrated advisory services
Networking and sharing capabilities
Service-driven operations
Ten minimum viable products MVPs were developed across these areas, including digital tools for communication, robo-advisory solutions, and account aggregation. An MVP serves as a functional platform enabling rapid testing with clients before scaling up.
Challenges included:
Integrating legacy systems
Partnering with fintech companies to accelerate development
Aligning IT and business strategies
Transforming the internal culture to adopt agile methodologies
To support this transformation, EY also focused on people trning and leadership development in digital thinking. The wealth management firm now offers a wide range of new services that enhance customer experience and enable it to compete effectively with emerging fintech challengers.
EY's technology-enabled transformation approach has ld the groundwork for future innovation by ensuring alignment between IT systems and evolving business needs, paving the way for continued growth and adaptability in an ever-changing market.
To explore how EY can support your organization:
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Reach out to our dedicated team of experts today. We are here to assist you in transforming your wealth management operations through technology-driven solutions that prioritize customer satisfaction and foster strategic growth.
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Agile Tech Transformation for Customer Experience Wealth Management Competitive Innovation Strategies Design Thinking Approach in Banking Industry Digital Solutions for Enhanced Client Service Fintech Collaboration for Advanced Services Integrated Advisory and Data Management Systems