Vakifbank Mobile Field Sales (MFS) Application
Company: VakifBank, Istanbul, Turkey
Company Description: VakifBank was first established with an initial capital of 50 million TL on the 11th of January 1954 and later started operating on the 13th of April 1954, for the purpose of best utilizing the foundations’ monies. As of December 31, 2016, VakifBank undertakes a leading role in the financing of domestic and foreign trade through 924 branches, 3,917 ATMs and 200.691 units of POS.
Nomination Category: Business Development Awards Categories
Nomination Sub Category: Business Development Achievement of the Year - Financial Services Industries
Nomination Title: VAKIFBANK MOBILE FIELD SALES (MFS) APPLICATION
Tell the story about this organization's business development achievements since the beginning of July 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes: TEXT REDACTED FOR PUBLICATION
WHAT IS THE MOBILE FIELD SALES (MFS) APPLICATION?
In order to consolidate VakıfBank's leadership in Retail Banking, tablets were provided representatives of the Bank in the field, retail portfolio managers, and in order to use mobile sales methods, the Mobile Field Sales Application was developed. The MFS, working in synchronism with our bank CRM infrastructure, allows our Retail Portfolio Managers the opportunity to carry out the marketing and sales activities at the location of the customer through tablets. Moreover, as a result of integrating many transactions carried out through branches into digital medium, the time lost in banking transactions is prevented and the transaction speeds are increasing. At the same time, the application has mobilized sales personnel who are stationary in the branches.
WHY WAS THE MFS APPLICATION NEEDED?
While portfolio managers had difficulties in finalizing the sales of the discussions they had during the customer visits, the sales teams can complete the sales activities at the time of customer visit with the introduction of the application. In addition, transactions can be completed quickly by reducing the use of paper by obtaining digital approval from customers. The sales and marketing process has been improved with the omni-channel viewpoint, and at the same time productivity and customer satisfaction have been maximized.
While developing the MFS application, it was aimed to carry out an analysis of the difficulties experienced by customers and to carry out the transactions in the fastest and easiest way. With the assistance of sales personnel using the MFS application, transactions that required customers to visit the branch prior to MFS can now be carried out without customers visiting the branch.
WHAT INNOVATIONS HAVE COME WITH MFS?
With the MFS application, it is possible to assign location-based assignments to the positions of the customers for the field sales teams and to enable the field sales personnel to move to the assigned position and to check the assigned tasks effectively through the application check-in. Customer visits made by sales staff can now be managed more efficiently.
Thanks to MFS implementation, all of our core banking products can be sold by our portfolio managers in the field.
In addition to offering services for existing customers, new customers can also be registered in the tablet application, and the MFS application for VakıfBank, which is one of the banks with the largest retail customer portfolio of Turkey, also functions as an active customer creation channel.
Mobile Field Sales (MFS) will also be beneficial for those who lack accessibility to financial system and services. Provincial people living at periphery and other disadvantaged groups (people with disabilities, socially disadvantaged ones, isolated elderly people, gender-based isolated people, etc.) who have disadvantages in accessing financial system/banking services will benefit from MSS which is the "Social Benefit of MSS" (as Vakifbank) we care very much.
In addition, the MFS application is a first in the banking sector; allowing offline applications to be received in the absence of mobile access, and also allowing marketing activities to be carried out efficiently while offline.
BENEFITS OF VAKIFBANK MFS APPLICATION
With the adoption of the MFS application, customer visits that could not be followed regularly and measurably can be followed and managed clearly.