DenizBank CRM Revolution

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Company: DenizBank A.S.
Company Description: DenizBank is established in 1997, has moved to 5th place among private banks in Turkey by 2013. It has been acquired by Sberbank in 2012. DenizBank further strengthen its position in the market by acquiring Citibank Turkey Retail Banking in 2013. Currently Bank has 14,000 employees and 7.1 million customers. Its strategy is based on innovative solutions aiming best customer experience.
Nomination Category: New Product & Service Awards Categories
Nomination Sub Category: Business Intelligence Solution – New

Nomination Title: DenizBank CRM Revolution - inter - Online CRM

Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and sales to date:

inter-OnlineCRM has been a revolution in customer experience journey for DenizBank. The system is based on two missions of DenizBank CRM “engage with customers across channels real time” & “simplify banking for customers”. We asked customer’s main expectations from a bank (besides financial benefit) and three expectations stood-up:

1-Expectation: SPEED, Solution: JUST-IN TIME:

The moment customer takes an action or goes to a location; offers are sent on real time basis across all defined channels. Enrollment requests can be taken instantly and the customer is rewarded as soon as the reward condition occurs. There is a wide variety of rewards given automatically without manual intervention varying from points, cash back, extra installment, payment deferral to special pricing.

2-Expectation: SIMPLICITY, Solution: OMNICHANNEL:

Seamless transition between channels is a very important attribute of the system. With 360° view all customer touch points are fully integrated. Customer response from one channel updates other channels real time. This simplified banking brings consistency and continuity with same look & feel, frictionless experience & navigation across channels. inter-OnlineCRM has also improved Banks’ first contact resolution rates by 81% since the omnichannel system is transparent to our front-office staff.

3-Expectation: RELEVANCE, Solution:TAILOR-MADE:

Intense use of big data for customer insight allows predictions about future behavior, preferences and financial needs of the customer. Cross sell and upsell propensities driven from these predictions are used to proactively out reach the customer for the best possible offer.

Proactive pin point offers in a fully integrated environment has not only increased customer satisfaction but also started to show its impact on Bank’s financials in a very short time. Below you may find some of the practical results achieved by using inter-OnlineCRM.

Retention & Re-instatement:

We know our customers’ attrition propensity when they are active; we have data mining models to predict needs, behavior patterns and future value to Bank. inter-OnlineCRM is fully integrated with these big data, so pro-active out-reach through the system with the best offer has increased Bank’s retention ratio by 70%. For the customers that have already attrited, value based win back strategies has increased the re-instatement ratio by 250%.

Product Sales:

inter-OnlineCRM is very effectively used for cross sell and up sell. Big data, inter-OnlineCRM and banking applications are fully integrated. So the system enables to show best offer & propensities on screens for front office staff and portfolio managers, value based price differentiation can also be made from these screens. E.g. propensity hit rates for mutual funds are 18%, term deposit is 15%.

Bank also uses remote channels for sales, 40% of loans have been sold through predictive loan offers that have been triggered from inter-OnlineCRM System.

Operational staff at branches turned to sales force by empowering them with knowledge. As of 2013, 21% of total product sales have been driven from tellers.

Campaign Management:

Bank’s all campaigns run through inter-OnlineCRM. It ensures seamless customer experience and more optimal campaigns. Campaign complaints have decreased by 27% while bringing 19% incremental credit card sales activation.

Efficiency:

With the launch of the system many manual jobs which cause human errors have been automated. As of September 2014, 35% of all campaigns are periodic or part of defined customer journey roadmap meaning they are triggered automatically up-on certain customer actions or predictions about the customer. Customer rewarding is also managed without human intervention. This has created 56% FTE saving in CRM and Reward Operations.

inter-OnlineCRM is far more than a system for DenizBank; it is our greatest touch to connect with customers’ lives and create actual value for them. This system has unique attributes since its backbone had been designed from customer expectations. This is an on-going journey for us we will continue to listen and understand our customers to improve our system to make their lives easier and happier.

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