success story

Top U.S. bank reduces operational costs by 25% with Virtusa Wealth Personalization solution

The Challenge

Our client, a major U.S. bank, struggled with financial reporting, as its existing data was allocated from various locations. The client also used outdated, manual workflow processes and lacked proper financial reporting tools. These factors complicated the report automation process.

The Solution

Virtusa helped the client digitize trust processes by funneling associated components into a single system, with access points across multiple channels. To meet local regulatory standards, Virtusa also customized the accounts’ chart formatting, classification, and categorization.

Additionally, the client was able to curate investment advice for clients using our customized portfolio feature. Having an extra layer of personalization helped the client improve user experience for their own customers, while boosting operational workflows for their employees. We also applied automation in the client’s reporting and process workflows to help them cut down on manual efforts and the use of extraneous tooling resources.

Wealth Personalization solution
The Benefit

Through our customization and digitization efforts, Virtusa addressed the client’s pain points by automating reporting and process workflows.

As a result, the client:

  • Saw a 25% reduction in overall budget costs
  • Enhanced user experience and increased operational efficiency by 15%
  • Reduced turnaround processing time by 15% with the use of automated reporting and data allocation workflows
Revolutionize how your company does financial reporting and wealth management

Streamline financial reporting processes with our smarter, more adaptable solution

Related content