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Total Economic Impact of Client Lifecycle Management Solutions

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Total Economic Impact of Client Lifecycle Management Solutions

May 2015

In this commissioned study conducted by Forrester Consulting, Fenergo measures the time, cost and challenges on onboarding complex, institutional clients. The report also explores a case study analysis of the benefits of implementing a Client Lifecycle Management solution.

Key findings show: 

  • It can take up to 34 weeks to onboard a new client with manual client onboarding processes, 12 weeks for firms with partial onboarding solutions and less than 6 weeks for institutions that have implemented a Client Lifecycle Management solution. 
  • It can cost up to $25,000 per client to onboard a new client, with the average cost calculated at $6,000 per new client.
  • Data quality, operational efficiencies, customer experience and regulatory compliance were cited as the top challenges facing investment and corporate banks. 

Financial institutions that have implemented an end-to-end Client Lifecycle Management solution can expect to achieve: 

  • A 20% increase in operational efficiencies;
  • A 30% reduction in client onboarding time and a faster time to revenue;
  • A 20% reduction in audit-related costs;
  • An improved client experience. 

 

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