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Customer Story

New England Bank Transforms the Client Experience by Creating a Single View of the Customer

For commercial banks, delivering outstanding customer service is critical to staying ahead of the competition.

With a wide range of services and account types, this well known New England bank faced challenges in creating the single, consistent customer view needed to serve their customers quickly and efficiently. As they moved from an account-based to a customer-based view, the bank’s legacy systems were unable to provide the consolidated customer profiles necessary to support the transition.

The bank had dozens of source systems housing customer data. These legacy systems (some over 20 years old) made it extremely difficult to create a consolidated customer view. When clients called into the bank’s call center to discuss their mortgage, credit card or bank accounts, that team often had difficulty accessing all customer information for all products.

The resulting delays impacted customer satisfaction and drove call center costs up. The bank also required consolidated views of their business customers in order to effectively market the bank’s full business portfolio — another key priority. Finally, the bank was looking to cut IT costs through implementing a more agile, streamlined system.

The bank chose the Precisely Master Data Management solutions based on its unique approach to providing a single, consolidated view of each customer.

The bank moved quickly through development, performance testing, and deployment by working closely with our services team, which included a Solutions Architect to help define the requirements of the new system.

After implementation, the bank was able to consolidate customer data from all sources, creating a single ‘golden record’ for each customer. They also leveraged Precisely robust data quality capabilities, such as Spectrum Universal Name and Spectrum Universal Address, to validate and standardize customer name and address information.

Challenged by the duplication of customer records, the bank was able to resolve many of these duplications automatically with the initial system implementation. For more difficult duplications the bank is leveraging Spectrum Data Stewardship — a data governance tool that inspects and resolves duplications on a continuous basis, reducing the requirement for records investigation.