Building the ultimate CRM Universe post-merger Qorus Banking Innovation Awards 2013- Nominated

Following the merger of two banks of equal size (TEB and Fortis) forming a bank with more than 3,3 million customers and 600 branches; TEB has identified Customer Centricity as one of the key strategic levers to achieve its short and mid-term targets. TEB has built a programme named “The ultimate CRM Universe” with a investment in excess of € 2 milllion. The programme’s objective was to build the CRM Analytical infrastructure of the merged bank on three pillars: (1) Data Strategy Initiative; action plans in three main areas have been defined together with the accountability structure: detection (data quality problems investigated); prevention (business processes and user behavior to prevent data quality problems) and correction (data correction tools and processes). (2) Big data enabled analysis, modelling and prediction capabilities and a four dimensional customer segmentation: a) behavioral segmentation using 25 different customer dimensions through 1900 smart variables including some innovations such as financial fitness score, b) a needs based segmentation based on the factor analysis on face-to-face meetings with 4200 + customers and 600,000 questions c) Residual (“potential elsewhere”) and future value segmentation based income, AUM, Age, Profession, Socio-economic index d) credit card behavioral segmentation based on criteria such as spend frequency, recency, revolve, ticket size, diverse usage, MCC code (3) Opti-CRM Programme built to balance the customer contact strategies with the best use of the bank’s resources incorporating “best next action” and real time campaign management capabilities. The programme generated an ROI of 180% in the first year.