Building a customer-centric operating model: Aligning segments, products, and channels

Financial institutions can expect to compete in a difficult, low growth environment for the foreseeable future. Building wallet share with existing customers will be a major driver of growth. For many, winning in this environment will require moving from a transactional to consultative relationship model. At the core of the issue, financial institutions need to clarify how segments, products and channels interact to deliver the experience.

Financial institutions can expect to compete in a difficult, low-growth environment for the foreseeable future

Low-growth environment for the foreseeable future


Competition will be intense as players focus on attractive segments

Focus on attractive segments


Building wallet share with existing customers will be a major driver of growth

Major driver of growth


For many, winning in this environment will require moving from a transactional to consultative relationship model

Consultative relationship model


However, many organizations are structured by product and therefore not able to deliver a consultative customer experience

Many organizations are structured


At the core of the issue, financial institutions need to clarify how segments, products, and channels interact to deliver the experience

Core of the issue


Segments must take on a lead role to set the value proposition, while products innovate and channels manage the experience

Segments must take on a lead role


Capabilities must support roles — e.g., segments own client insights

Capabilities must support roles


The planning process is key to ensuring the appropriate level of collaboration is occurring across the organization

Planning process


The performance management process, including KPIs, must support the desired customer-centric behaviors

Performance management process


Finally, delivery platforms must be in place to successfully deliver on the promise

Delivery platforms


The result is a much more flexible operating model that delivers a consultative client experience

More flexible operating model