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The private banking industry is facing regulatory constraints, rising client expectations and increasing competition. Discover how OpenWT helped one of the leading private banks transform its trading activities, in order to stay ahead in an evolving environment.

Situation

Our Client, a leading private bank, is facing 3 types of challenges in its industry:

  1. Regulatory constraints on capitalization & transparency requirements,
  2. Pressure on margins with market concentration, global competition and emergence of disruptive Fintech actors leveraging digital technologies,
  3. High client expectations for digital interaction processes, tailor-made investment strategies, high performance levels and contained prices.

As such, we accompanied our Client in the transformation of its trading activities, core to the bank, in order to:

  1. Ensure the bank’s readiness for 2018 MIFID 2 regulation,
  2. Optimize operational efficiency with front-to-back process rationalization & automation,
  3. Increase client value with highly personalized financial products & advisory.

Approach

We followed a 3-step front-to-back approach to transform the bank’s trading activities:

  1. Analyze : we conducted a comprehensive review of current front-to-back trading activities in order to capture best practices & improvement areas.
  2. Prioritize : we prioritized improvement areas based on the interest for the bank & the ease of implementation. Then, we structured the top-notch initiatives in work streams and set in place the transformation program’s governance.
  3. Implement : we managed the different work streams & governance leading to tangible results. We leveraged OpenWT methodologies and project management competencies to empower our Client in the implementation.

To make the transformation successful, we worked hand-in-hand with the bank’s internal resources, and ensured alignment between sponsor, project management and operational teams.

Results

The result of the collaboration between the bank and OpenWT is threefold:

  1. The bank is ready for 2018 MIFID 2 regulation,
  2. The trading department is empowered with project management competencies: review of roles & governance, sharing of OpenWT methodologies for business process reengineering & tools specifications
  3. Digitalization is positioned at the core of business objective, as a lever to improve operational efficiency & client value: elaboration of the IT roadmap for front-to-back processes automation & rationalization, review of financial advisory client targeting and much more.

 

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