When Client Lifecycle Management Meets Automation

Written by: Fleming. Team

Cesare Allavena
Business Development Executive EMEA,



1. How can banks improve Client Lifecycle Management with digital solutions?

In our experience, the key to consistent customer communication across the client lifecycle is a single development platform that can orchestrate all customer-facing processes, from prospecting and client onboarding to reviewing and retaining customers. Such a platform needs to sit ‘on top of’ the bank’s core banking system and all other back-office applications. We should think of this architecture as being comprised of two separate layers. The foundational layer—the so-called systems of record—guarantees your bank’s stability and reliability, whereas the upper layer—your systems of engagement—allows you to keep up with changing market conditions.


2. Does this mean replacing IT legacy systems is inevitable?

Not at all! It just means that when you adapt to your customers’ product preferences and communication habits, you must be agile enough to redesign your customer-facing systems within a reasonable timeframe. This shouldn’t touch your back-office systems, however. To the extent that your engagement systems interface with your core banking suite, there is absolutely no need to replace your ERP, CRM systems, etc.


3. The focus of your conference presentation is automation in banking. How has automation evolved in the last couple of years? Do you see a growth in interest for more automation overall?

The declining income from the interest business has forced many banks to cut costs while concentrating more on their commission-based business. This shift in focus accounts for much of the industry’s rising interest in automating the back office. At the same time, frequent changes to the regulatory framework, as well as the existence of several frameworks across different geographies, are making manually administered processes ineffective. Most banks, particularly in the retail sector and more recently also in private banking, have started to automate key customer-facing processes like client onboarding.

Customer centricity and customer experience have also become important drivers of automation. In general, today’s consumers expect services to be delivered at their convenience, i.e., through their preferred channels and at a time that suits them best. In addition, they expect banking services to be relevant and personalized.

All this amounts to a clear call for more automated processes! From self-service banking to the availability of ‘intelligent’ assistance systems for customer advisors, automation offers multiple opportunities for banks to delight their customers with a value-add, through both digital and physical channels.


4. What’s next for process automation?

Customer demands, regulations, and the ongoing transformation of the competitive market are putting banks under considerable pressure. Automation will help them make a virtue of necessity!

Consider MiFID II: At first sight, implementing the new regulatory framework engenders additional cost. However, by automating routine customer interaction processes on the one hand and the required database checks on the other hand, banks will be able to harness these investments for a more competitive offering. Customers’ confidence in automated banking solutions, in turn, will increase over time, creating new opportunities for differentiation for the banks that take the lead in process automation.