Personal Banking Managed Group
Category: Data Management; Award: SILVER
Category: Strategic Vision; Award: SILVER
Entrant: Bank of New Zealand
Credits:
Bonnie Law, Manager Customer Intelligence - BNZ
David Evison, Area Manager North Shore - BNZ
Barry Woolmore, Network Development Manager - BNZ
Martin Sadd, Area Manager Coromandel - BNZ
Anita Campbell, Marketing Communication - BNZ
Franco Pierantoni, Senior Database Analyst - BNZ
Entry Rationale: The objective of the Personal Banking Managed Group Project was to create a single view of the customer for all accounts managed in the retail segment. The primary focus was not only eliminating duplicate customer records and collating household views but also extended to include the total relationship from the customer viewpoint.
The lack of single customer view has limited our ability to target customers in cross sell campaigns and better manage relationships with our customers. Customers may receive multiple or even competing offers at the same time, impacting on customer satisfaction. This also limits our ability to correctly target the right customer for the right offer.
Bank of New Zealand has begun the journey migrating from a simple product focus to a holistic customer focus, evidenced by our commitment to customer satisfaction. This includes many aspects of marketing including a switch from mass marketing to more personalised messages, more relevant offerings to the customer according to their needs, and most importantly relationship management.
The project objectives have been achieved with great effectiveness. A new centrally managed process loaded vetted customer relationships into the core system which are then able to be maintained using the bank’s existing customer relationship management system. The effectiveness of the data matching process to form the single view of the customer has been improved through the use of complex computer analytics and extensive data/text mining.
Send this page to a friend