Building a new vision for consumer lending

In order to grow and thrive during and after the pandemic, this banking leader knew it needed to reinvigorate its digital approach to consumer and small business lending. The dynamic and competitive banking environment is driven by multi-channel engagement, and new competitors are constantly changing the playing field.  Added to that, customer expectations for digital and touchless contact had expanded. The bank wanted a new vision.

While it had a great reputation for in-branch, in-person service, the bank needed to update its technology and approach to keep pace. From loan origination systems to data management and operating models, the bank was looking for an outside-in perspective and a roadmap to achieve its desired state.

By bringing the KPMG Connected Enterprise approach to support the bank's customer-centric, digitally enabled transformation, KPMG quickly determined that the project was more than a technology upgrade. The program would need to be holistic, and look at lending products, customer models, and operations. During phase one, KPMG:

• conducted visioning workshops that generated ideas for innovation and made recommendations to alleviate gaps in current capabilities
• created a market expansion strategy to help the bank acquire new customers, as well as gain revenue from its existing base. KPMG used machine learning tools to tap the bank’s data and other outside sources to identify geographies with a high probability for successful growth.
• helped build a plan and business case for implementing prioritized projects that would net the highest value and benefits for the bank
• recommended a revitalized approach to the lending delivery model that would provide greater benefits to customers and improve the organizational structure
• put a governance structure in place to support the transformation.

Working with KPMG, this bank was able to adopt its plan and begin the journey forward. By focusing on profitable customer experiences, the bank’s transformation can allow it to:

• infuse integrity, personalization, and value into every customer relationship
• deliver mobile-first, bank-anywhere service
• proactively advocate for customers
• build a digital presence in customers’ lives and finances
• design products and services that will develop future relationships
• create data-driven personalization and continuous innovation
• increase speed to market using agile delivery methods.

A connected, holistic approach

KPMG helps clients connect their front, middle, and back offices so they can multiply their impact on customers and their business. We look at transformation through multiple lenses, not just technology. We help clients rethink their products, customer experiences, operating models, and workforce planning.

Customer-centric thinking

We bring a customer-first approach that drives how our clients envision their relationships. With this mindset, our clients gain a better view of who their customers are and can build programs that harness data from across channels and the organization to provide employees with a full view of the customer.

Planning through to implementation

We bring many years of experience helping clients transform their business functions. But we don’t just deliver plans and leave. We are there to help clients implement and bring their vision to life. And our leading practices can help make the work go smoother and faster—all the way through to delivery.