Global Tier-1 bank.
Banks’ data on their existing customer base is all too frequently an untapped resource. Managed properly, it can yield direct commercial benefits.
The new CRM system delivered by Lab49 identified customer retention risks and new business opportunities via a suite of tools.
The hidden goldmine of customer data
Within the highly competitive landscape of financial services globally, institutions must use high-quality data analytics to uncover new commercial opportunities. Efficient and integrated storage, management, and analysis of existing customer information is one example of how banks can improve client relationships and drive sales growth. Acknowledging this, a global Tier-1 bank approached Lab49 to design and build a new Customer Relationship Management (CRM) system to replace its existing system, which was inconsistent, relied heavily on manual processes, and did not hold information in a centralized, transparent database.
An expanded toolkit for better CRM
Following extensive analysis, we identified the common user experience issues that needed to be addressed and began to build a new integrated CRM platform with a modern interface, as well as more efficient storage of and easier access to historic data on customer behavior and demands. The deployment of new technologies, such as machine learning and unstructured data stores, provided our client with additional tools for optimizing customer service.
Smarter service, stronger sales
This improved CRM system enabled increased productivity and efficiency across the client’s sales division, driving up the volume of new business opportunities, reducing revenue loss, and ultimately supporting a more competitive commercial proposition.
Data and analytics
We optimize data management and deploy analytics, AI, and Machine Learning technologies to extract value from it.
The value of ever-larger datasets depends on organizations consolidating and then gleaning insight from them.