Financial services firms continue CRM spending

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Financial services firms continue to spend on CRM despite the overall slowdown in technology spending, with major contracts announced from DataDistilleries and Siebel.

French insurance firm Assurances Banque Populaire is implementing DataDistilleries' predictive analytical software suite in a bid to offer a more personalised approach to its customers and enhance the effectiveness of its marketing campaigns.

The DataDistilleries' software is inteneded to improve Assurances Banque Populaire’s customer behaviour modelling process. Using DataDistilleries' suite, the insurer will be able to execute more effective marketing campaigns, helping to increase the conversion rates of marketing actions while significantly reducing marketing costs.

In the process, Assurances Banque Populaire expects to see a rapid return on investment. "We selected DataDistilleries' technology as it allows us to generate tangible business benefits in a short period of time," comments Marcel Pizzini, Marketing Director of Assurances Banque Populaire. "Using analytical software will significantly strengthen our current operational CRM solution, ensuring we are better equipped to truly understand our customers and anticipate their needs.."

Meanwhile Standard Chartered Bank, a leading retail bank in Asia and the emerging markets, has standardised on Siebel eBusiness Applications in Hong Kong and Singapore. The bank is using Siebel eFinance 7 to create a single, comprehensive view of the customer and enhance customer service.

One of the leading financial institutions in Hong Kong and Singapore, Standard Chartered Bank serves both consumer and wholesale banking customers with personal and priority banking services, credit card, mortgage, investment, and insurance services.

The bank is deploying Siebel eFinance 7 to create a unified view of its consumer banking customer information across its branches and call centres in Hong Kong and Singapore. By allowing the consumer banking division customer relationship managers, branch managers, and sales and service staff to understand more about its customers' profiles, preferences, and behaviour, Standard Chartered can tailor solutions to meet specific customers' needs and maximize the quality of its banking services.

"The banking environment in Hong Kong and Singapore has become increasingly competitive over the past two years. Customers' expectations in banking services are continuously rising, and we need to be able to understand our customers better to deliver superior service," said Steven Parker, head of customer sales and service, consumer banking, Standard Chartered Bank.

Standard Chartered is one of the longest-established banks in Hong Kong and is one of the three note-issuing banks. The Group has a network of 500 offices in more than 50 countries and assets of approximately US$90 billion, offering an extensive range of products and services for personal customers, local companies, and multinational corporate and financial institutions.

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