The road to success in wealth management

Enabling client centricity

The basic point of view expressed in this paper is that banks and wealth managers urgently need to consider how they align their strategy and operating model to the two prevailing distinct client segments – Global Active and Local Affluent. Maintaining their right to win and growing required them to respect their clients’ behaviours and focus on their needs in a much more consistent and sustained way. Clients must be the basis of all strategic and organisational decisions.

Why does the focus need to change? Basically because in an increasingly industrialised financial services sector and fast changing regulatory requirements and technological possibilities, wealth managers have to find ways of reconciling apparently contradictory customer needs.

Read the full paper


PwC Switzerland is the Center of Excellence for Wealth Management.
Please do not hesitate to get in contact with our experts:


Dr. Marcel Tschanz
Partner, Head of Wealth Management Switzerland
+41 58 792 20 87

Dr. Sebastian Hersberger
Wealth Management Center of Excellence Switzerland
+41 76 519 49 35

Kristof Trautwein
Wealth Management Center of Excellence Switzerland
+41 79 257 80 19

Part 1/3: Client Onboarding Process – it’s all about efficiency, effectiveness and client experience

Why Banks are looking for redesigning their onboarding processes

CyberThreatLandscapeSwitzerlandThey say you do not get a second chance to make a first impression and that holds certainly true for the client onboarding at a bank. Financial institutions that optimize their onboarding process based on efficiency, effectiveness and client experience will outshine their competitors.

Not only wealthy foreigners but also Swiss retail clients are often baffled by how much time they have to invest until becoming a client of a Swiss bank. For the bank on the other side, the onboarding process means weeks or even months of spending money on increasingly complex approval processes only to realize that highly risky customers, that regulators with great scrutiny are seeking to clean the financial center of, were still onboarded.

Our clients in the banking industry point out that the rising tide of regulatory requirements made it difficult for them to balance user and client experience with efficiency along the onboarding process. Numerous regulations – such as the Foreign Account Tax Compliance Act (FATCA) or the Markets in Financial Instruments Directive II (MiFID II) – are changing the information requirements about their customers and force banks to adapt their processes and systems. However, some of them spot the opportunity in the crisis and have begun to position user experience and efficiency as potential Unique Selling Points to stop the commoditization of their service offering. PwC has been involved in putting their onboarding process through a health check and use the respective findings to lay the foundation for a differentiating value proposition that attracts customers.

PwC can support you in transforming your client onboarding from a highly fragmented, manual and time consuming process for the business and the customer into a streamlined, digitalized experience with modular customizations for the target client service models.

Please contact our expert:

DaanDr. Marcel Tschanz
PwC Partner Advisory
+41 79 540 60 80