The problem
Van Lanschot, the oldest private bank in the Netherlands, faced the challenge of modernizing its client service delivery to maintain its reputation for personalized attention while expanding its global reach.
Despite their dedication to providing top-tier, white-glove service, the traditional methods of relationship managers (RMs) driving to a client's home to hand-deliver portfolio printouts were becoming increasingly unsustainable and inefficient in a rapidly digitalizing world.
Van Lanschot faced several challenges in providing high-end financial services to their clients. To enhance client access, they needed a more convenient method for clients to manage their financial portfolios and communicate with their relationship managers without geographical and time constraints. Additionally, the bank's traditional methods of delivering first-class service were not scalable in the digital age, resulting in inefficiencies and delays in client interactions. Furthermore, to ensure compliance and transparency, Van Lanschot had to maintain comprehensive records of client interactions to meet regulatory requirements and provide a clear audit trail.
The traditional, manual processes were not only time-consuming but also made it difficult to provide the level of instantaneous service today's clients expect. This inefficiency risked diminishing the bank's long-standing reputation for excellence and personalized client care.
The solution
Van Lanschot leveraged Moxo to streamline operations and transaction workflows, significantly enhancing their service delivery overnight.
Providing clients with real-time access to their portfolios, secure messaging capabilities, and a complete view of their wealth management activities can significantly enhance their engagement. When clients can interact with their financial information and relationship managers (RMs) from anywhere at any time, it fosters a more dynamic and responsive client relationship. Enhancing client relationships through virtual interactions is key to personalized service. By offering status updates and urgent notifications, RMs can promptly address client needs. The ability to document collaboration and execute agreements in real-time optimizes service efficiency and ensures that client interactions are seamless and well-documented.
Operational service delivery is vastly improved by incorporating these digital tools, ensuring comprehensive management oversight. Maintaining thorough records of all RM-client interactions is crucial for transparency and compliance. An effective administrative management process allows for seamless workflows with tailored permissions that reflect the organizational hierarchy. This approach ensures the continuity of client relationships, even through RM transitions, and maintains a high standard of service delivery.
The result
The implementation of Moxo significantly improved Van Lanschot's operations by strengthened client satisfaction, operational efficiency, and brand resilience.
Moxo helped Van Lanschot streamline operations by providing clients with convenient access to their portfolios, documentation, and Relationship Managers (RMs) from a single, secure destination. Real-time document collaboration and execution enhanced client satisfaction and engagement, creating a seamless onboarding experience. The transparent, documented transcript of all banking transactions ensured clients felt secure and informed.
For RMs, the ability to foster stronger, personalized relationships through ongoing virtual interactions was key. The status update feature improved responsiveness by allowing RMs to signal their availability and receive urgent notifications. Additionally, a recorded transcript of client interactions helped RMs maintain organized communications, simplifying the reference of previous business dealings.
From a management perspective, comprehensive records of RM-client interactions ensured smooth collaboration and consistency through transitions. Continuous workflows and tailored permissions on digital platforms mirrored the organizational hierarchy, supporting operational efficiency. The branded digital destination reinforced Van Lanschot’s brand relevance and resilience, fostering client loyalty while streamlining operations and onboarding processes.
Van Lanschot maintains a full audit trail of client interactions, creating a complete client profile to support seamless continuity through RM transitions. This data retention and fully compliant reporting system preserved the excellence in service that Van Lanschot has promised each client for over 250 years. This blend of tradition and innovation continues to be the cornerstone of their enduring success.
