Cheryl Rosenberg
Business Dev. Mgr.
(617) 612-3000 x 207 

Banking organizations typically use CRM for prospect and client management functions that are not typically included in the standard transactional systems. Organizations, therefore, integrate CRM with their existing customer platforms - including retail banking and account management systems, investment and portfolio management, and mortgage origination solutions.

The Green Beacon team has worked with banking customers to implement CRM solutions that help better manage customer relationships and grow new prospects. Our solutions help organizations pinpoint key relationships, manage at risk- customers, improve product cross selling, leverage referrals, and promote effective targeting of clients with relevant services across service lines.

Here are a few highlights of our most common solutions for banking institutions.

Corporate Master

Financial service organizations typically have a multitude of systems that need to be integrated to provide a single view. The majority of our financial services clients have struggled with 3 key areas in customer management: Integrating their customer data into a corporate master, refreshing their customer and prospect data (contacts, addresses, mergers and acquisitions, hierarchies), and managing multiple views of their customers (hierarchies).

Integration can seem costly, except when compared to the alternative. There are 5 key benefits that organizations realize when they implement a customer master:

Green Beacon has helped multiple firms develop multi-dimensional, synchronized Customer Master solutions that have facilitated the consolidation of customer data for organizational reporting, consolidated customer statement, data warehousing, and customer portal infrastructure.

Financial Data Integration

Green Beacon developed the Financial Services Data Integration solution to address three issues:

• Sales reps were spending a good amount of time developing prospect list outside of CRM, and had a hard time importing their prospects into CRM.
• Key contacts at prospect organizations change jobs frequently, and updating contact information in CRM could be a full-time job. And
• 3rd party data sources provide information that is not readily available in CRM for their customers and prospect.

The Green Beacon Financial Services Data Integration integrated with leading industry data sets including BigDough^TM, Nelsons^TM, and MMD^TM, and provides:

• Automatic updates of corporate and contact data in CRM.
• Access to financial data and recent news for a contact, updated daily, through CRM.
• Automatic updates of corporate hierarchies post mergers, acquisitions, or restructuring.
• Prospecting with seamless integration of prospect lists into CRM.

Referral Tracking

Most CRM tools do not provide a simplified solution for tracking referrals from internal or external sources. For most of our customers, referrals were traditionally sent via email, which was simple to do, but did not provide any tracking as to what happened with the referral (follow through) or visibility into whether or not the referrals provided by a specific source were valuable (referral analysis).

To address this issue, Green Beacon developed a simplified referral management solution. The tool allows users to identify both prospects and referral sources, and create referral opportunities for multiple service lines at the organization. Once the referral is created, it automatically tracks the relationship, providing insight into the value of the referral source and the business from the new customer relationship.

Call and Activity Reporting

Call and Activity Reports provide the ability to capture, in a structured way, the conversations between relationship managers and clients. Clients have used Call Reports to standardize what information is captured after a client meeting, the sharing of the information with other relevant parties, and archiving of the conversation for reference in future conversations with the client. Some organizations send a copy of the call report to the client as a part of their customer service commitment to excellence. Call Reports quickly become one of the most used solutions once implemented.

Business Process Management / Workflow

Most of our banking customers are leveraging integrated CRM solutions for contact and opportunity management, but also for streamlining routine business processes. Implementing business workflow through the CRM tools provides a standard, repeatable best practice for accomplishing complex, multi-stage tasks within the organization. Examples include:

• Customer Acquisition - Setting up a new customer in multiple transactional systems
• Credit Check - Reviewing the customer's credit rating before issuing a credit card or personal loan offer.
• Risk Assessment - Evaluating the risk associated with working with the customer based upon their country of origin, source and use of funds, etc.

Some of the workflows, like customer acquisition, are performed from start to finish by an account manager or other representative (e.g. a teller). Others, like credit checks and risk assessments, require multiple check and potential internal reviews from multiple decision makers before a decision can be made. In this case, the workflow manages the notification and tracking of the workflow, along with the review process and status of approvals. The workflow can also manage annual reviews of certain processes, like an annual review of the customer's risk assessment, by prompting the account manager to review and revise the assessment given new information from the customer.

There are several key benefits to implementing workflow solutions:

• Workflow enables organizations to implement core business processes management and tracking. This process ensured compliance to a standard set of tasks (workflow), managed notifications and exceptions, and eliminated the issues that arise from manual management of these workflows via spreadsheets and email.
• Workflow reduces the time required for approvals both by streamlining the process and by allowing analysis of the bottlenecks in each step of the workflow process.

Offline / PDA Access

Pyxis Mobile is a leading provider of mobile CRM solutions for Financial Services organizations. The Pyxis platform provides a streamlined user interface, optimized for use on PDA devices or from laptops. Users access data through advanced caching technology, which speeds performance without the challenges associated with traditional synchronization solutions. Green Beacon has partnered with Pyxis to provide offline access to CRM data via the Pyxis platform.
 

The Green Beacon / Pyxis solution provides:

• Complete offline access to critical CRM data - Companies, Individuals, Incidents, Tasks, Work notes, Forecasts / Quotes - via intelligent caching of data over an internet connection on the PDA or laptop.
• Customization support for specific offline requirements, business rules, and more complex business data.
• Enhanced security during synchronization and automatic distribution of new versions of the client software.