Case Study: Santander Consumer Bank improves onboarding speed and data quality with BearingPoint

Santander Consumer Bank cuts onboarding errors by 65% with BearingPoint

Santander Consumer Bank, a global financial institution, faced a significant challenge with its outdated and complex customer onboarding process. The traditional method was time-consuming, resulted in poor data quality, and struggled to meet evolving regulatory requirements like MiFID II. Partnering with BearingPoint, the bank sought to leverage a business process management (BPM) platform to redesign this process and create a more efficient, customer-friendly experience.

BearingPoint implemented a customized BPM solution using an agile approach, which involved reengineering the end-to-end onboarding process and training the bank's staff. This new digital platform significantly accelerated onboarding times, which previously took weeks, and improved data quality by reducing the error rate by 65%. The solution provided full transparency for compliance and greatly enhanced the experience for both customers and bank employees.

Santander Consumer Bank