Leading foreign bank subsidiary raised transaction income 30% by defining 10+ target sectors

Context

A wholly owned subsidiary of a foreign bank wanted to focus on growing its transaction banking business by developing short-term strategies which can enable it to get an advantage in the market and meet the budgeted target for the next 1-2 years

Our approach

• Analysed offerings, technology, service capability, and organization structure and then compared against peers on similar growth scale to determine the operational scope of improvement for the client
• Identified new sectors considering current capability of client (branch accessibility, credit appetite, offerings), prospective new target consumer segments that the client has a considerable possibility of tapping into
• For each identified sector, target product offerings and pitch were identified which were available within the bank or can be built in a short period via partnership
• Studied existing customer to find scope of additional transactions, especially asset clients which need to comply with RBI regulation and proposed initiatives to deepen SOW

• Key strategic initiatives were defined to increase the bank’s float and transaction income by 30%+ and meet the next year’s budgeted target
• Proposed initiative-wise tracker, organization structure refinement recommendation and product build roadmap to support the growth targets
• 5+ product offerings, including current account variations, FX derivatives, sweep FDs, etc., were suggested for the client to be on par with competitors
• 10+ new target sectors were identified for each corporate offering, and product pitches were prepared to tap into the clients in the identified sectors 
• 10+ partnerships were envisaged to empower client with quick go-to-market for new product offerings such as digital escrow accounts
• 100+ existing clients were identified with the scope of increase in share of wallet via cross-selling or enhancing engagement in existing products