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One Riggs, One Customer How Riggs Bank is transforming its Corporate Mission into an achievable real

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What are the core elements of the CRM strategy based on the corporate mission and vision? ... Ability to provide corporate-wide access to data ... – PowerPoint PPT presentation

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Title: One Riggs, One Customer How Riggs Bank is transforming its Corporate Mission into an achievable real


1
One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMBill BunkerVP of
Financial Services Onyx Software
2
Agenda - Introductions
  • Mark Hendrix, EVP of Marketing, Riggs Bank
  • Matthew Gracie, VP of Customer Relationship
    Management
  • Brian Kloostra, CRM Executive, Crowe Chizek

3
Onyx Clients in Financial Services
4
One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMMark HendrixEVP,
Chief Marketing OfficerRiggs Bank
5
Overview
  • Strategic Transformation - Riggs
  • Riggs Bank - Company Profile
  • The Riggs CRM Vision, Strategy Principles
  • Organizational Transformation
  • Enterprise Implementation - Crowe
  • From Strategy to Tactics
  • Implementation Approach
  • The Solution
  • Benefit Realization - Riggs
  • Key Benefits / ROI
  • Hidden Benefits
  • Continuing the transformation
  • Future Plans

6
Riggs Bank - Company Profile
  • Founded in 1836
  • Located in Washington, D.C.
  • Bank of Presidents
  • Leading bank for embassies and diplomatic
    missions
  • Total assets of 6.8 billion, with 1,500
    employees

7
Our CRM Mission
  • One Riggs
  • Provide a consistent customer experience to all
    Riggs customers across all communication
    channels, branches, business lines and bank
    personnel.
  • One Customer
  • Provide Riggs employees with a single view of all
    customer information.
  • Deliver consistent, reliable service that
    improves customer satisfaction and increases
    revenue.
  • The path To transform Riggs into a
    customer-centric organization.

8
Engaging the CRM Strategy
  • Critical Questions we asked
  • What are the core elements of the CRM strategy
    based on the corporate mission and vision?
  • What are the Enterprise-wide business
    requirements?
  • Are we ready to change culturally?
  • What is the supporting organizational model?
  • Can we sustain the commitment over the expected
    transition period?
  • Where do we find the appropriate partners to
    engage?
  • How do we find the right tools?

9
Establishing the CRM Principles
  • Create processes at an Enterprise level so that
    the customer experience is consistent across
    channels.
  • Sales referrals and processes
  • Managing Service Requests
  • Customer complaints and compliments
  • Transforming transactions to relationships.
  • Assess the entire customer relationship with the
    bank in delivering the sales/service solution.

10
Organizational Transformation
  • Transition Planning
  • Enterprise-wide in scope no exceptions
  • Highly planned and long term in view
  • Business requirements developed at Enterprise
    level
  • Change Ownership
  • Leadership fully committed in spite of economic
    conditions
  • Differentiating between other solutions keep
    focus on progress
  • Strategy driving ongoing process and technology
    changes
  • Employee Engagement
  • Cross business involvement in requirements
  • Constant communication
  • Emphasis on training and lots of it

11
One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMBrian Kloostra,
CRM Executive, Financial Institutions
Consulting GroupCrowe Chizek
12
From Strategy to Tactics
  • Business Context
  • Project EPS - Enhancing Performance and Service
  • 22 sweeping process and technology projects
  • Major resource requirements
  • Software Requirements
  • High accessibility and usability
  • Web based
  • Easy to train/learn
  • Low programming needs
  • Useful for all parts of the business sales,
    call center, execs
  • Why Onyx?
  • Right sized for a regional bank
  • Recommended by Riggs trusted advisors (Nykamp /
    Crowe)
  • Proven ability to implement rapidly

13
From Strategy to Tactics (cont.)
  • Project Scope Enterprise Wide
  • Call Center (inbound)
  • Direct Banking (virtual branch)
  • Marketing
  • Telemarketing (Outbound Sales)
  • Branch Platform
  • Compliance (Know Your Customer, Risk Matrix)
  • Back Office (Quality Assurance, Research,
    Disputes)
  • Domestic Private Banking
  • Sales (Wealth Management, International /
    Embassy)
  • Teller (Customer Portal for referrals)
  • Executive Office

14
From Strategy to Tactics (cont.)
  • Creating an Empowered Core Team
  • Executive sponsor empowered the team to make
    decisions
  • Riggs provided a project manager and champions
    from each major area of the bank
  • Community / Retail Banking
  • Customer Service / Call Center
  • Sales / Wealth Management
  • Marketing
  • Information Technology
  • Compliance (added for Phase 2)
  • Corporate Training (added for Phase 2)
  • Additional resources brought in as needed
  • Crowe Chizek provided an experienced team of CRM
    consultants with both Onyx and banking experience

15
Business Modeling
  • Customer Service
  • Inbound Call Center
  • Branch Platform and Direct Banking
  • Marketing
  • Product Encyclopedia
  • Top Opportunities
  • Sales
  • Referrals
  • Relationship Selling
  • Compliance
  • Know Your Customer

16
Integrations
  • Real time integrations
  • BizTalk server is used for all real time
    integrations
  • Fidelity Service Delivery details Loans,
    Deposits, CD/IRAs
  • Other 3rd Party External Systems (Trust,
    Brokerage, etc.) via Fidelitys CIS (balances
    only)
  • Link and Launch pre-fills information in
    Service Delivery

17
Integrations
  • Batch integrations
  • Nightly import of new, changed and deleted
    customer and account information from Fidelity
    Service Delivery
  • Oracle General Ledger export for automated
    disputes
  • Imports from Harte-Hanks marketing database for
    householding, customer segmentation and
    profitability, next best products and
    relationship opportunities, campaigns and
    outbound calling lists
  • Exports to Harte-Hanks include survey/profile
    information and results of product and
    relationship pitches, and outbound calling
    activities
  • Other miscellaneous exports to a data warehouse,
    ADP (for incentive compensation referral bonuses)
    and special use data marts

18
One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMMatthew Gracie, VP,
Customer Relationship Mgmt, Riggs Bank
19
Key Benefits
  • Post Implementation 8 weeks
  • Commencing benefit realization
  • Consolidated sales referrals electronic
    assignment
  • Documenting gt 50 service incidents growing
    weekly
  • Examples of customer relationship service
    experiences
  • - Call center retains high value customer
  • - COO turns complaint into new sale

20
ROI
  • ROI Systems consolidation
  • Strongest metric component to date
  • Already recouped the entire cost of
    implementation
  • De-commissioning

21
Systems Decommissioned
  • Retired Systems
  • Customer Support / Inbound Call Center
    (Client/Server Legacy)
  • Telemarketing / Outbound Call Center
    (Client/Server Legacy)
  • Telephone Banking / (homegrown)
  • Referrals (homegrown)
  • Product Recommendation / Account Opening
    (homegrown)
  • Automated Disputes (Mainframe Legacy)
  • Know Your Customer (forms based)
  • Contact Management (Goldmine)
  • Sales Pipeline (homegrown)
  • International Systems (in process)
  • Sales and Support System (custom)
  • Fulfillment (custom)

22
Hidden Benefits
  • Data transparency
  • Ability to provide corporate-wide access to data
  • Identifying the passive customers and
    proactively engaging in needs-based selling
  • Highlighting back-end system data accuracy and
    quality issues
  • Taking an active role with data processes
  • Cultural Change
  • Riggs Bank employees are using Onyx to access
    comprehensive customer information across all
    bank departments and product lines.
  • Recognizing current day interactions thereby
    providing a more seamless service to the customer
    and/or prospect.

23
Future Plans
  • Business Process Enhancements
  • Workflow
  • Enterprise Demographic Data Consolidation
  • Sales Tracking and Reporting
  • Enhanced Compliance Functionality
  • User Training


24
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