September 2012 - Banking Newsletter
Welcome to the Q3 2012 West Monroe Partners Banking Newsletter
Date : September 5, 2012

Regulatory changes combined with changing customer expectations and demands are putting unprecedented levels of strain on traditional financial services revenue sources and forcing banks to respond fast and effectively in order to maintain—let alone improve—competitive position.

Institutions that are most successful in addressing these challenges more often than not demonstrate one common theme. They have adopted a customer-centric focus that extends to everything they do—from understanding customer needs to communicating effectively and consistently across channels to fulfilling expectations effectively once a customer has committed to a service. In many cases, data and digital channels are at the center of this capability.

In this newsletter, we share some examples of work we have done with financial institutions and banking clients around the globe—from credit cards to deposits and commercial lending. Each of these articles demonstrates how we have helped institutions apply customer-centric strategies to foster growth, market more effectively, establish smart customer relationship management capabilities, and innovate in the area of product development.

We hope you find these examples enlightening and useful. Of course, we are happy to provide additional information or answer any questions you may have. Please do not hesitate to contact us if we can be of assistance.

West Monroe Partners applies substantial industry experience to address the evolving challenges of banks by providing a range of services that combine our industry strategic, analytical, operational and technical skills.

We help banks counteract today’s challenging environment by:

West Monroe Partners is a proven provider of growth and efficiency to large enterprises, as well as more nimble middle-market organizations.  Our more than 350 consulting professionals drive better business results by harnessing our collective experience across a range of industries, serving clients throughout North America.  For more information, visit our website at

A full-service bank, with nearly 80 offices and regional service centers located across the United States, wanted to offer its business clients an integrated, exceptional online experience.
A top-10 US credit card issuer, currently with more than 10 million customers, wanted to strengthen its growth strategy.
With a legacy of helping customers meet their financial needs, Midland States Bank sought to increase commercial loan throughput while decreasing risk.
Today, credit card marketing revolves around traditional database approaches that involve a long and analytically intensive process of mass sending offers to customers.  This process lacks an efficient way to track, tailor, or monitor those communications without a considerable amount of effort and labor intensive statistical analytics. 
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