Global Customer Database Design and Development of a Customer Integration Strategy
Client Business Issues:
Our client, a leading global investment bank, had numerous customer files serving its different business and product areas. The Bank lacked a global, common source of client data and an integrated, corporate-wide customer view. This resulted in inconsistencies in customer information and significant manual reconciliation. It also limited the Bank’s ability to cross-sell products, manage its customer relationships globally and make management decisions based upon profitability by customer.
Our Approach:
We assessed the Bank’s requirements in the area of relationship management and identified gaps in meeting those needs with its current architectures, databases and technologies. We then developed a plan to guide the integration of customer data from multiple information systems into a common source. This included the establishment of a unique identifier for corporate customers, the identification of static legal entity customer information required by the Bank, and the identification of financial, sales and marketing information that would facilitate the servicing of these requirements through a global customer database. We identified functional, process, and data modifications and enhancements, produced a clear analysis of alternative architectures and recommended a detailed course of action.
Value Received By Client:
- Provided senior bankers with clarity on customer and target account information globally. This facilitated providing better service and improving marketing and product sales.
- Provided senior bankers with the ability to make informed management decisions using more accurate information regarding profits and deals by customer.
- Facilitated the creation of a single and consistent source for customer data to improve accuracy, consistency and control.
- Enabled a reduction in time and effort required to reconcile customer data and maintain interfaces between customer information systems.
- Provided improvements to customer-related and financial management reporting processes, resulting in enhanced staff productivity and improved accuracy