Case Study: enabling Retail and Corporate teams to achieve greater performance in a Banking organisation

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Customer Overview

Our client is a banking institution authorized to carry out all the specific activities of a commercial bank and some activities related to capital markets. The company has been present on the local market for over 15 years and has a diversified offer, providing banking products dedicated to several segments of the liberal professions, small and medium-sized businesses and individuals. The bank also develops its portfolio of clients in the retail segment, for which it implements dedicated products and services.

The Business Challenge

Increasing the level of profitability of the bank depends on the strategic planning of the promotional efforts, as well as on the operational efficiency and efficient risk management. This is all the more difficult in a difficult macro-economic context as well as an increased level of competitiveness of the local market. Together with the customer, we have identified that the optimization of these factors can be achieved through a better knowledge and understanding of the customers and by adapting rapidly to changes in the market and consumer behavior. In addition to the acquisition of new customers, the bank goes through a process of redefining its understanding of the existing customer base. This involves identifying new ways to optimize profitability in relation to each client.

In over 20 years of activity, our client has greatly expanded its portfolio with complex banking products. The strategies of approaching the market and concentrating the sales efforts towards the most profitable segments for the bank have led to the dispersion of information about clients and prospects in several locations, encountering difficulties in measuring the efficiency of the sales teams for the Retail and Corporate divisions and in implementing the up-sell and cross-sell strategies for existing customers. Proper segmentation of customers and the definition of customer profiles by the promotions team became more difficult, which made it even more difficult to implement the campaigns and to collect the results.

Another important aspect for the bank was the optimization of the internal processes related to the activity of the sales agents across the Retail and Corporate divisions: the planning and management of activities (meetings, telephones, emails) per client or prospect, centralized feedback, obtained from the interaction with clients and prospects, performance indicators per sales team and per agent (achieved vs. target, meetings conducted over certain periods of time, success rate per customer segments / prospectuses approached, prospect activation rate). On the other hand, sales representatives did not have a complete picture of customers and prospects: previous visits and their feedback, offers made, products purchased, opportunities won or lost in front of competitors, marketing campaigns in which they were included, etc. In order to corroborate this information, employees had to interrogate a whole series of different applications and to centralize the information manually which had a negative impact on productivity levels. Additionally, the management team was seeking for increased lifecycle performance visibility through a centralized view of sales information and reporting.

As far as customer communications are concerned, our client intented to unify the various channels and automate a series of activities such as events or product launch campaigns, promotions and regular notifications. Additionally, the organisation wanted a better way to monitor feedback, correct transmission errors and keep the database up-to-date. An element of interest for our client was to develop a integrated survey solution to enable customer support to poll end users without the need to work with a developer team every time.

The main objective for the Bank was to ensure current customers are kept loyal while easily onboarding new ones in a customer-centric approach. They needed a platform to offer in real time a complete customer view of users and prospects, consolidating information that the Bank analyzed from multiple sources, integrating these to measure the performance of the sales teams in the Retail and Corporate divisions, while automating most of the communications work going on by email and SMS in a single solution.

Solution

In order to attain the Bank’s objectives, we delivered a solution built on top of Microsoft Dynamics CRM and our own digital acceleration platform having the following components:

  • Back-Office for customer and sales team management
  • e-Care: a customer portal for portfolio administration
  • e-Marketing component for email marketing

Customer Benefits

Our solution has facilitated the following items:

  • Consolidating customer and prospect information into a single source of truth: contact data, requests and history of interactions with the bank, types of contracts and commercial conditions, bank products portfolio etc.
  • Fast access to complete customer profiles
  • Efficient management of customers and prospects by territory (regions, zones, cities), divisions, sales teams and area manager
  • Efficient contact management by allocated branch in order for the sales agents to visualize all information that the company has on customers easily and therefore be able to tailor each interaction
  • Increasing the productivity of marketing and sales departments through process automation via an automatic routing of each prospect to the most suitable sales agent (depending on their covered territory, banking division and client type), reduced from 2 days (the average duration of contacting a prospect) to one hour
  • tracking each lead or prospect throughout the entire sales cycle, from identification and the initial qualification until the closing of the sale;
  • improving response times and reporting resolution rates with dashboards and daily reports.
  • Transparency, detail and aggregate information, increasing thefficiency of marketing campaigns
  • Efficient management and tracking of multi-channel e-marketing campaigns (SMS, e-mail, social media networks, affiliate sites), including lightning or interactive campaigns
  • Creating campaign sites, custom landing pages and reporting features
  • Improving prospect databases by automatically collecting contact information and customer behaviour data, with GDPR-related limitations
  • Better visibility for the management of the whole sales cycle and the efficiency of the teams
  • Complete reporting system from standard templates to deeply personalized documents, the solution generates market reports, leads and opportunities, pipeline and estimated results, monitoring the performance of sales agents, the efficiency of their marketing actions and customer satisfaction related to the after-sales support offered.
  • Territorial and divisions management
  • Simplifying the process of assigning sales agents to the territories, banking divisions and types of customers each territory is approached and managed through workflows and specific automated processes

Every area manager and division manager has all the tools at hand to define the activity and objectives up to the individual level of each sales person, their pursuit (number of meetings, the outcome of meetings, opportunities for successful sales), analysis of results versus objectives and implementation of plans.

In terms of management of opportunities and forecasts related to future results, the detailed sales pipeline and forecast by banking product (deposits, credit lines, refinancing), by division (SME, Retail, Corporate), areas, sales teams and the related stage of the sales cycle are available for consultation within the solution. Forecasts related to collection is also available to facilitate collection of arrears from clients: analysis of due invoices, definition of the estimations of collection of the outstanding amounts, cash flow reports.

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