Global Banking Leader Enhances Beneficiary Maintenance with Skan

  • IndustryBanking & Financial Services
  • Company Size 200,000+
  • Revenue $90B+
  • Location United States

Our Client

This client, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide.

It operates through four segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, and Global Markets. It provides products and services through approximately 5,000 financial centers, 16,000+ ATMs, call centers, as well as online and mobile platforms.



The client's Beneficiary Maintenance process involves the on-demand addition, update, or removal of beneficiary details in customer accounts. This is a manual process for which the company lacked real-time visibility into key process steps, variations, and outcomes like throughput and efficiency. Conducting time and motion studies to map processes took an average of 12 weeks per process, which is expensive and time consuming. Without visibility into how process changes impacted KPIs, the client struggled to demonstrate ROI for transformation investments.

By addressing the client's challenges with data-driven, actionable insights, Skan aimed to optimize the Beneficiary Maintenance process.

in annual savings through standardization
in processing time by eliminating bottlenecks in workflows


Skan's real-time process monitoring provided unprecedented visibility into the Beneficiary Maintenance process. In just a short period of time, Skan analyzed 51 cases from start to finish, measuring an average processing time of 7.8 minutes per case.

But Skan didn't stop there. By identifying all possible process variants, Skan revealed that complex cases involving multiple participants took 2.5x longer than simple cases. Video playback analysis of all the activities in the process helped pinpointed delays in the document review process and lag in accessing the system for corrections. Skan even detected a 1.6x difference in processing time between two operators, based on the applications used. Finally, Skan's unit cost analysis determined that the average cost-per-case was $6.46, representing a 17% cost-cutting opportunity through standardization.


Skan provided actionable insights to eliminate multiple participant touches to reduce processing time resulting in annual savings of $330K.

A thorough unit-cost analysis identified 17% reduction in unit cost of processing through standardization yielded $545K in annual savings

Skan also enabled real-time, continuous process monitoring of all key performance indicators. The improvements facilitated by Skan's AI-powered process intelligence helped streamline operations and enhance operational excellence.

“This seems very useful as a tool. That we can compare the process across participants or time windows will help us track a process before and after changes are made.”

Director, Head of Innovation

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