CRM case studies

YES BANK
It managed cutomer relation via Excel sheets, which
lacked interactive features and wasn't the smartest
way to run the bank's sales force.
Yes Bank Collaborative CRM (YCCRM) changed all
that with banking heavily on employee
collaboration.
Keeping their existing customers intact and adding
to that customer base is an imperative for banks.
he definition of customer relations is broadening.
When every new piece of customer data can reveal
a new facet of a customer, information becomes a
business opportunity.

 It managed customer relations via Excel sheets,

something that the bank was beginning to
regret.
The problem was that it was a one-way
information sharing system that restricted data
flow from the customer to the company
We wanted to start with a small frameworkbased model which changes with our business
needs.
We wanted a flexible solution that would change
in accordance to the dynamics of our business

 What we wanted was a scalable CRM that could

grow as we grew and not just any CRM solution,"
says Sharma.
And from those priorities was born the concept of
the Yes Bank Collaborative CRM (YCCRM).
The customer information captured in the YCCRM is
mapped to blog-like entries made by employee.
These entries include ideas, suggestions, and
perceptions of the sales representatives. The sales
and product teams can then analyze this
information and figure out related business
opportunities.

 Such information can also be leveraged to customize existing

products or conceive new products altogether
Earlier, with Excel sheets, sales staff culled out details of
customers by tabs in the form (name, company, account number,
etcetera).
But with YCCRM, they were provided with a template where they
can fill details (other than the standard keywords) noted during
their interaction with the customers. This meant they could
personalize their dashboards. With the new CRM, sales reps can
now upload or download scribbled information from their phones
to the main CRM system.
The implementation of a key tool like CRM has already started
reflecting positively. There has been a drastic improvement in
customer acquisition after sales leads were passed on via
discussion boards.

 "There is servicing of 10 lakh leads and around 5 lakh

service requests per year. Customer service has improved
by 60 percent and turnaround time for its processes by
almost 70 percent," says Sharma. It has helped us
understand our customers better and analyze the resolution
time for each query or complain and then improve internal
process accordingly.
It also added lots of intangible business benefits and
helped retain customers better," says Sharma. The crossselling of products has substantially surged after the
implementation. The collaborative CRM has given a new
window of social valuebased relationship which is key for
future cross-selling.

Case studyICICI Bank

The use of Customer Relationship
Management (CRM) in banking has
gained importance with the
aggressive strategies for customer
acquisition and retention being
employed by banks in todays
competitive milieu.

 he steps that banks follow in implementing Customer

Relationship Management (CRM) are:
Identifying CRM initiatives with reference to the
objectives to be attained (such as increased number of
customers, enhanced per-customer profitability, etc.),
Setting measurable targets for each initiative in terms
of growth in profits, number of customers, etc. and
Evaluating and choosing the appropriate
Customer Relationship Management (CRM) package
that will help the company achieve its CRM goals (a
comparison of pay-offs against investments could be
carried out during the evaluation exercise).

 Customer Relationship Management (CRM)

has been deployed in retail banking. The
challenges in managing customer relations
in retail banking are due to the multiple
products being offered and the diverse
channels being used for the distribution of
the products. Customer expectation from
banks can be summed up as:
Any time anywhere service, personalized
offers, and lower payouts.

 Aggressive marketing and promotions on the part of

the banks have resulted in most customers happily
switching loyalties to enjoy better privileges, thereby
making the task of retaining them more difficult for
the banks.
The
use of Customer Relationship Management (CRM) in
banking
has been essentially done for the following
purposes:
Targeting customers
Sales reference material
Consistent interface with customers

ICICI banks CRM initiatives

ICICI Bank has to manage more than 13
million customers. The bank has over 550
branches, a network of 2025 ATMs, multiple
call centres, Internet banking and mobile
banking.
Its customers often use multiple channels,
and they are increasingly turning to electronic
banking options. Business from the Internet.
ATMs and other electronic channels now
comprises more than 50 per cent of all
transactions.

 In the process of making its business grow

to this level, ICICI Bank has distinguished
itself from other banks through its
relationship with customers.
The Teradata solution focuses on a
Customer Relationship Management
(CRM) platform. Information from various
legacy and transaction systems is fed into
a single enterprise called wide data
warehouse.

 This allows the bank to generate a single view

of its customers.
The warehouse has the capability to integrate
data from multiple sources comprising Oracle
and flat files.
The Behaviour Explorer enables profiling of
customers and querying on various
parameters.
These enable the bank staff create suitable
campaigns for targeting individual customers on
the basis of their requirements.

 The logistics in the system have also led

to other benefits like interactive reports,
unearthing cross-selling opportunities as
well as finding out about the channel
usage undertaken by a segment.
The Benefits of CRM
Customers usage pattern
New product development
Central data management

 Some Noteworthy CRM

Initiatives of ICICI Bank
Mobile ATMs
Bulk deposits
ATMs for the visually challengedWith special voice guided
systems

 Other services through ATM

Prepaid mobile recharge
Buying and renewing Internet packs (such as
those of TATA Indicom Internet service
provider and Sify).
Making donations for Tirupati Tirumala
Devasthanams, Nathdwara temple and Shri
Mata Vaishnodevi shrine.
Mutual fund transactions, and
Bill payments

Mobile phone as a Virtual Wallet=Airtel

Social events (HNI-Golf event)
Mobile banking benefits:
Locating ATM
Locating branch
Locating drop box
Alert facilities like salary credit, account
debit/credit, cheque bounce, etc., and
Queries on banking, cards and demat account