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Total Economic Impact of Client Lifecycle Management Solutions

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A time & cost study of client onboarding for complex institutional clients.

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In this commissioned study conducted by Forrester Consulting, Fenergo  measures the time, cost and challenges on onboarding complex, institutional clients. The report also explores a case study analysis of the benefits of implementing a Client Lifecycle Management solution.

Key findings show: 

  • It can take up to 34 weeks to onboard a new client with manual client onboarding processes, 12 weeks for firms with partial onboarding solutions and less than 6 weeks for institutions that have implemented a Client Lifecycle Management solution. 
  • It can cost up to $25,000 per client to onboard a new client, with the average cost calculated at $6,000 per new client.
  • Data quality, operational efficiencies, customer experience and regulatory compliance were cited as the top challenges facing investment and corporate banks. 

Financial institutions that have implemented an end-to-end Client Lifecycle Management solution can expect to achieve: 

  • A 20% increase in operational efficiencies;
  • A 30% reduction in client onboarding time and a faster time to revenue;
  • A 20% reduction in audit-related costs;
  • An improved client experience. 

A time and cost study of client onboarding for complex, institutional clients. Also, features a case study analysis.