To meet growing customer expectations, and deliver a seamless experience across all devices, a large Dutch retail bank wanted to transform their business model into that of a ‘digital omni-channel bank’. This involved them opening up channel choices – from branches, mobile devices and websites – to encourage customers to use the ones most appropriate for their needs. They also wanted to create an experience which delivers focused advice, products and services.
While they were going through the process, the multi-million Euro bank realised they had a wealth of transaction data from different applications available which they could use to create insights into their customers. But they didn’t have the capacity or experience to utilise the data in the best way. To help them, we built a ‘customer insights competence centre’ as an accelerator of the digital organisation.
Acting small: by running data insight projects
We ran several insight projects, delivered within six to eight weeks, which focused on creating a strong business case – leading to benefits which would earn back any investment many times over.
Thinking big: by agreeing a strategy and designing a business analytics platform
We helped to design an advanced data analytics platform which ensured data governance agreements on data quality and security were met, and the necessary infrastructure, software and tools were in place.
Acting big: by scouting and training internal staff
We scouted for talent and created a highly effective customer insights team. We trained the candidates in a range of knowledge areas so they could successfully complete projects and create value for the company. These included business development and advanced analytics.
The bank, which has agreed a business design for the data analytics platform, now has a well-trained team in place that successfully generates and completes data insight projects, innovates new methods for analysing data and is able to capitalise upon business benefits. This has already led to cost savings, increased stabilisation and new business – with a 40% improvement in amount of online mortgages sold and a savings potential of 25% in the incident management process.
To find out more about our experiences with digital data, please contact us now.