White Papers

Private Banking Division Justifies Client Servicing Costs on 'Per Client P&L Basis' With BEN

• Tags:
• client,
• clients,
• relationship,
• satisfaction

Overview While the Private Wealth Management (PWM) group's Profit & Loss statement has long been profitable, and client feedback showed high customer satisfaction, there was no way to track the fully loaded cost of servicing each client. As a result, the PWM was unable to accurately determine on a per client basis which clients were being under- or over-serviced, or how profitable each client relationship was. To meet these challenges, the firm decided to extend its existing investment in the Business Engine Network (BEN), which was already deployed across thousands of seats in the IT organization.

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