Kundenbeispiel
A leading Asian commercial bank was losing market share. Competitors were winning with their new product offerings and superior levels of customer service. Bain helped our client upgrade service delivery to retain customers, resulting in a five percent turnaround in market share and a 30 percent profit growth.
BankCo* is a leading Asian commercial bank with a large corporate banking business consisting of blue chip customers across all major industry sectors.
In the past 10 years, several domestic and foreign banking competitors had aggressively targeted BankCo's key corporate customers and had increasingly gained market share vs. BankCo. Competitors had upgraded their product offerings and delivery capabilities and were providing superior levels of service to BankCo's customers.
BankCo still had many sources of competitive advantage (established customer relationships, capable relationship managers, strong brand) but needed to develop a systematic plan for reversing its declining corporate banking market share.
Working with the client, Bain developed and implemented a three-phase strategy.
BankCo went "back to basics" and implemented several initiatives to improve service levels, protect existing customers and deepen customer relationships.
Vision/desired state
Actions/initiatives
After applying the "back to basics" initiative, BankCo experienced a significant service level improvement, a market share turnaround and significant profit growth.
* We take our clients' confidentiality seriously. While we've changed their names, the results are real.
