Title: One Riggs, One Customer How Riggs Bank is transforming its Corporate Mission into an achievable real
1One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMBill BunkerVP of
Financial Services Onyx Software
2Agenda - Introductions
- Mark Hendrix, EVP of Marketing, Riggs Bank
- Matthew Gracie, VP of Customer Relationship
Management - Brian Kloostra, CRM Executive, Crowe Chizek
3Onyx Clients in Financial Services
4One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMMark HendrixEVP,
Chief Marketing OfficerRiggs Bank
5Overview
- 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
6Riggs 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
7Our 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.
8Engaging 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?
9Establishing 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.
10Organizational 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
11One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMBrian Kloostra,
CRM Executive, Financial Institutions
Consulting GroupCrowe Chizek
12From 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
13From 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
-
14From 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
15Business Modeling
- Customer Service
- Inbound Call Center
- Branch Platform and Direct Banking
- Marketing
- Product Encyclopedia
- Top Opportunities
- Sales
- Referrals
- Relationship Selling
- Compliance
- Know Your Customer
16Integrations
- 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
17Integrations
- 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
18One Riggs, One CustomerHow Riggs Bank is
transforming its Corporate Mission into an
achievable reality using CRMMatthew Gracie, VP,
Customer Relationship Mgmt, Riggs Bank
19Key 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
20ROI
- ROI Systems consolidation
- Strongest metric component to date
- Already recouped the entire cost of
implementation - De-commissioning
21Systems 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)
22Hidden 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.
23Future Plans
- Business Process Enhancements
- Workflow
- Enterprise Demographic Data Consolidation
- Sales Tracking and Reporting
- Enhanced Compliance Functionality
- User Training
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25Q A
Question and Answer Session