Business Need
As a part of a Global Initiative, the Bank decided to incorporate the
concepts of life stage marketing and relationship banking into their
approach. To translate these concepts into effective sales actions, the
Bank needed the following:
Knowledge of customer's current Demographic details, related products and
its holding pattern with the bank
Sales Force Automation using Effective Campaign management and Call
Center Facilities
The present system in the Bank was based on Show Case Product Strategy
Query Builder that used a Windows PC interface connected to an AS400
support machine. This system did not use any front-end application for
serving customers.
Key Problems with the system were:
Multiple product databases could not provide relationship linkage of the
customer
Non-User friendly Front end system
Multiplicity of Contact- the same customer would be approached for
various products without prior history
Lack of a system that could identify duplication of customers
Marketing Campaigns to promote sales were done manually leading to an
ineffective tracking mechanism
Delay in response to customer/prospect due to lack of information
Loss of Leads
There was no facility of Creating and Tracking Opportunity for upsell or
cross sell of products
No automated workflow
The business goals of the Client were:
Customer Identification
Customer Retention
Cross-selling
Customer Acquisition
Solution
Based on the above requirements, a CRM solution was proposed. The various
modules that comprise the CRM system to be implemented were decided upon.
The Project was split into logical phases in an iterative manner. The
Project Objectives were defined as follows:
Relationship Integrator
To provide one point contact for the customer by providing a single
application interface to capture the entire customer centric data related
to the requirements of the bank. Capability to capture the customer
demographic, psychographic and product holding details.
Data Manipulation
Since the requirement required a single point interface it was advisable to
create a Warehouse type of Storage which stores all cleansed and refined
data for use. Hence the data from various sources were extracted and
transformed related to the requirement and stored in a ready to use refined
form.
Automate Sales Flow
The Sales Cycle was to be automated and optimized.
Campaign Management
Once the Marketing Team decide on a strategy for a marketing campaign, it
was to be clearly understood, efficiently generated, effectively acted upon
and responses to be thoroughly analyzed
Scalable Architecture
The system needed to be designed in such a way that it could handle growing
customer base without loss of service and also have the ability to handle
varied transactions
Performance
The Response time for Siebel screens to be generated were decided to be not
more than 2 seconds. The data flow from the legacy system to the Siebel
system was decided in the EOD (End of Day) activity to be less than 7 hours.
Polaris proposed and implemented a comprehensive CRM solution consisting of
the following components:
Datamart - Dynamic Data Storage which contains the data in a
de-duplicated refined, cleansed and in a structure way based on requirement
Informatica- An ETL (Extraction, Transformation and Loading) tool, which
is used to pick up information from the source and populate the Datamart
Trillium- A De-duplication tool which is used as Relationship integrator
to identify a Customer across the legacy system
Valex- A Campaign Generation and Automation Tool, which is used for
Targeting product, offers, communication and segmentation
Siebel- A Contact Management system which is used in the system for sales
Process automation and customer Relationship management. Siebel is used to
Capture and allocate all leads, link Marketing and sales activities
Highlights
Project rolled out in over 35 branches and 95 agents
400+ users accessing the system
About 15 Campaigns gone live with a Potential of generating 10million
EURO as CNR (Customer Net Relationship) value accounts
The system today handles about 200,000 transactions a day
More than 20,000 opportunities have been created and about 5,000
activities have been generated
The database supports 2.8 million customers and 3 million accounts
