Identifying new opportunities for a major U.S. bank
$2.66M to $3.28M
Estimated value of new opportunities discovered
19
Business expansion areas summarized
At a glance
Client
Major U.S. Bank
Industry
Banking
Our role
Identify business opportunities
Our solution
Opportunity matrix delivered
Scenario
A large commercial bank was challenged by a lack of payment processing opportunities in New York State.
Approach
We helped the client tap into existing relationships and created an opportunity matrix.
Result
Nineteen business opportunities were identified within New York State, with an estimated opportunity value from $2.66 million to $3.28 million.
Scenario
Identifying potential payment processing opportunities
One of the largest commercial banks in the United States needed assistance as it attempted to identify potential municipal payment processing business opportunities within New York State.
The bank needed additional research because it was lacking access to accurate, complete data that was needed to discover and build out these business opportunities. The loss of a key subject matter specialist had created strain between the bank and its stakeholders, and the bank needed to execute a proof of concept to assure the stakeholders of the project’s feasibility.
Limited access to data also was hindering the bank’s development of consumer behavior modeling, requiring conservative assumptions to be set in the development of estimated revenue models.
Approach
Opportunity matrix outlines potential economic value
Grant Thornton performed a geo-operational review that documented key synergies and areas where existing relationships and contacts with senior leadership from both the payment processing provider and the partner bank could be used to mutual advantage.
The team worked with the client to set priority regional targets and key areas of product expertise from the technology vendor for targeted expansion. Marketing research also was conducted in priority regions for opportunity identification and documentation of potential acquisition flow targets.
Through an opportunity matrix that was built, potential economic value, strategic alignment, processes and risks were outlined.
Result
$3M in new opportunity value
Grant Thornton developed detailed opportunity cards and executive-level presentation materials for 19 business expansion opportunities within New York State across three main thematic areas covering background, opportunity attractiveness, bid potential and bid process.
The opportunity matrix that was developed summarized total economic value, strategic alignment, process, risks, opportunity pricing and estimation models for identified opportunities.
The estimated opportunity value ranged from $2.66 million to $3.28 million.
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This Grant Thornton Advisors LLC content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton Advisors LLC. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.
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