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"Thank you to all who gave their precious
time to help develop and support this exciting and important
initiative. It will revolutionise Private Banking!"
Head of Advice
THE BACKGROUND | Untapping potential 'one on one'
To deliver better customer service and maximise revenue
potential, retail banking organisations need to build strong
relationships with customers. To do this effectively, it's
imperative to have a true understanding of customer needs and
preferences for each of the various stages in the customer
life-cycle in order to offer the right product or service at the
right time - at an individual level.
This retail bank recognised that its high net worth segment
represented an untapped opportunity to cross and up sell products
'one on one', but that the initiative would need to be handled
expertly and sensitively as the private banking clientele rightly
has high expectations of great customer service and really doesn't
want to be on the receiving end of inappropriate sales
On the back of the results ContactPartners has delivered for the
bank's customer management operations for over 10 years, the team
was first invited to discuss this high profile initiative with the
project sponsors and then to specify and deliver a solution that
would meet the bank's twin requirements of better service and
THE CHALLENGE | Better service and increased revenues for high
net worth customers
The client wanted to improve customer service and increase
revenues for its high net worth segment, but recognised that it
needed to overcome some key challenges:
- Firstly, the solution needed to integrate and be compatible
with a significant number of existing systems that had grown
organically over time, but these were both expensive and
inefficient to maintain.
- Secondly, the existing system didn't allow the customer
relationship managers to perform targeted searches to understand
what products or services would be of use to their customers.
- In addition, the existing system didn't allow multiple future
contact scheduling, which made it different for the managers to
keep track of customers with a diverse product portfolio or
- 'Soft' insights - such as personal interests and situation -
couldn't be captured which impacted the ability to softly cross and
up sell; for example, if a child was about to go to University,
that might represent the perfect opportunity to propose a
- Last but not least, customer financial data feeds were often
stale and inaccurate, so were mistrusted by the customer
relationship managers who had to spend time cleansing data and
researching current customer information via multiple systems - a
time consuming and monotonous exercise.
What a great experience! From start to
finish, initial meetings and discussions, staff professionalism,
project specification, solution delivery and after delivery service
has been second to none. Nothing has been too much trouble, no
issue is a barrier that can't be overcome, tunnelled under or
scaled for this company. The employees are professional and polite
and have a real 'can do' attitude no matter what the circumstance.
I wish that third parties were as professional and easy to work
with as these guys."
THE SOLUTION | Intelligent Relationship Management
ContactPartners began by holding various workshops with all key
client stakeholders to fully get to grips with the requirements and
the existing technology infrastructure. It then specified a bespoke
customer relationship management solution, Intelligent Relationship
Management, and brought in a trusted, specialist partner for the
solution build, integration with other legacy systems and to
support full testing and launch. Within 6 months, Intelligent
Relationship Management was underpinning customer relationship
management for the bank's high net worth customer base.
The powerful customer relationship management solution, which is
tightly coupled with the bank's infrastructure, provides advanced,
yet user-friendly prospecting and proactive customer management
capabilities. By integrating with existing systems and combining
all the data the bank holds about its customers in a single view,
the solution uses a mix of historical and real-time data to provide
a summarised, editable view of each customer, combining history and
soft facts as well as all balances, bank and non-bank holdings.
Customer relationship managers can easily create sophisticated
rules that generate automated prompts and alerts to drive
prospecting efficiency. A virtually limitless search capability
helps identify customers with the highest propensity to buy or
which are due a personal contact. Coupled with an unprecedented and
comprehensive view of their financial holdings, customer
relationship managers are now fully equipped to contact and serve
customers in the right way, each and every time.
In addition, Intelligent Relationship Management gives regional
managers access to a clear, hierarchical set of easy to digest,
real-time management information and key performance indicators
(KPIs) across the business, allowing them to proactively support
their customer relationship managers. They are also able to
understand and share what's working - and what isn't - and provide
other areas of the business with vital intelligence to improve
business performance and capture valuable customer insight to help
refine marketing messages and reduce costs through improved
"I've seen enough CRM systems to know this
is a good one. I would kill to get a system like this into other
areas of the business."
Head of Branch Banking
THE BENEFITS | Revenue, efficiency and better customer
Since the introduction of Intelligent Relationship Management,
the bank has increased revenues for its high net worth segment and
driven incredible efficiencies across its private banking
operations. The customer relationships managers have been empowered
to do a better job for customers and themselves, which has resulted
in increased levels of both customer and employee satisfaction.
Customers are having more rewarding conversations as the customer
relationship managers are more knowledgeable about individual
customer needs, wants and personal situations.
Although sophisticated, Intelligent Relationship Management
offers effortless scalability and is really straightforward to use.
Relationship managers are now empowered to make appropriate contact
with - and product offers to - their customers at the right time.
For the first time, 'mass customisation' is possible: meaning that
bespoke, carefully considered - and perceived as truly personal -
offers and communications are being made to segments displaying the
same traits, needs and wants.
The solution's integration with existing systems has not only
'joined up' information held about customers, it's driven increased
efficiencies across the legacy infrastructure, and, in some cases,
given systems that were 'creaking at the seams' a new lease of
life, enabling management to contain costs by reducing
inefficiencies and extracting value from existing
Last but not least, there has been excellent feedback from the
customer relationship managers and 100% user acceptance. Users
trust Intelligent Relationship Management because it's reliable,
user-friendly and safe. And, quite simply, it helps them do their
jobs more effectively and efficiently.
Intelligent Relationship Management capabilities especially
valued by the client
Fresh data can be delivered in near real-time and incredibly
sophisticated contact lists can be generated and shared with
colleagues to drive efficiencies.
Everything you need to know about a customer is instantly
available in a single, unified view - from a roll-off date on a
product to a high balance change overnight - enabling customer
relationship managers to make every contact count and offer
products and services tailored to individual customer needs.
Intelligent Relationship Management has a great user interface
to access and capture customer information - including non-bank
holdings or 'soft' facts, both entirely searchable - which enriches
prospecting searches and customer decisioning in real-time.
The solution's virtually limitless search capability helps
customer relationship managers drill down faster and yield search
results that build 'hot' lead pools or identify customers that are
due to be contacted - helping to build and cement customer
Automated alerts remove the requirement for painstaking 'case by
case' scenario searches and serves as a helpful prompt to remind
customer relationship managers to take action.
Intuitive performance dashboards are delivering 'on the minute'
intelligence on progress and outcomes, allowing regional managers
to see performance vs. targets for individual members of the team.
This is particularly valued as managers are able to guide
individuals, identify and analyse good and bad practice and share
learnings constructively across the team.
"It was a real pleasure to work with you
and your full team in ContactPartners. I have worked in
Change Management now for over 5 years and this was by far
the best relationship I have seen between the group and a
About Major Retail Bank
We'd love to tell you more about this major UK Retail Bank but
we can't. Simply because, like many financial services
institutions, this organisation has a strict non-endorsement
policy. However, as our client is really happy with the work we do
and enjoys our close working relationship as much as we do, we are
pleased to be able to share details on this strategic customer
relationship management initiative - albeit anonymously. From our
point of view, we're delighted and privileged to count them as a