Client Rationalization and Offboarding for a Regional Banking GiantStrategic client rationalization
An international wholesale bank conducted a strategic review of its client base due to profitability and cost-to-service challenges as well as regulatory compliance pressure of certain client groups. The primary assignment was to define the client population which was commercially relevant for the bank as well as deciding which clients to strategically terminate the relationship with.
Given the scale of this exercise and a lack of internal experience with end-to-end client offboarding, Synechron was asked to mobilise and manage the strategic client rationalisation project across the entire APAC region. The objective was to establish a robust, scalable and risk-controlled offboarding process with a fit-for-purpose governance whilst executing the end-to-end offboarding of a large dormant and high-risk client population.
Synechron was responsible for developing and implementing an offboarding strategy for approximately 8,000 clients across 10 APAC locations holding more than 12,000 accounts. This included developing:
- A full end-to-end process for client offboarding, including: full population analysis to inform decision-making, client communication and off boarding execution.
- Development of a standardised offboarding process accounting for business line, product and local regulatory deviations.
- The overall design and implementation of the programme governance across executive to operational level stakeholders.
- An ongoing strategic review and offboarding process leading to a significant reduction in client admin and compliance costs.
- Ability to clearly demonstrate being in control of the client base and associated trades & transactions, therefore a material reduction in operational risk exposure was realised.
- Clear insights in client profitability leading to capital and resource allocation optimisation as well as profitability increase.
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