Cases: Omni-channel marketing in Banking

Banks desire it, customers demand it

For financial institutions – and the banking sector in particular – the recent economic crisis has had a severe impact on customers’ willingness to enter into dialogue. Communication really needs to be relevant and consistent across all touch points. However, with its long and rich IT history, legacy is a big challenge for the financial sector, when trying to implement marketing automation. With a solid roadmap, we overcame this challenge for one of the largest banks in the Netherlands, resulting in an intelligent dialogue with each customer through every channel. A solution where every next best action or offer is calculated with advanced predictive algorithms.

Data challenge

One of the main challenges for this bank was in building an integrated view of its customers. Integration is not an easy task in a legacy-rich environment that has suffered from many reorganisations, systems and data sources. Customer data is scattered across many channels, touch points and administrative systems. Crystalloids’ system integration consultants helped to install the necessary platforms and software, and to build the processes to combine information from all data sources.

Relevant and personal

After implementing a campaign management solution, we started with an advanced analytics project to optimise campaigns. Using SAS software products (Enterprise Guide, Enterprise Miner and Model Manager), predictive models were implemented to predict customer behaviour. Model scores are used to personalise campaigns, optimise campaign selections and improve the campaign process, and of course to select the best channel mix for every campaign. All of this focusses on making the dialogue with customers more relevant and more personal.

Real-time scoring

Campaign management is now running smoothly, and the step towards real-time decision making has been taken. Technically, this means the use of real-time customer data, the development of interfaces with all touch points, and implementation of real-time scoring for the predictive algorithms. This phase is now underway, with the goal to gradually improve the intelligence of the dialogue with each customer. Real-time interaction is now based on well-defined business rules, and the next step will be to implement real-time scoring with predictive algorithms in all channels. So regardless of whether or not the customer interacts with the website, online banking, the service centre or an ATM, the bank’s communication will always be consistent and personal.

Agile approach

Although we were working for a big, multinational bank, we kept project phases small; delivering a usable product after each project phase. Using Scrum for project management, we were able to keep the project moving forward continuously and without any budget overruns. We also prepared and trained the organisation thoroughly, with dedicated, combined teams of experienced consultants and end users, enabling users to start working with the solution immediately.