Customer Centricity

"Customer Centricity" examines the need for banks to improve services by focusing on the customer rather than the products that it delivers. Most banks are hampered in this regard because their organisations and computer systems have evolved around the products producing siloes as opposed to integrated processes. This paper goes beyond the theory and consultancy-speak to examine the practical approaches that have been used in real-life projects to break down these siloes. 'We proved to the banking community that, even if you have a high volume environment, you can do it' - Klarr de Graaf, CEO, [Deutsche] Postbank Systems AG. 'Everybody knew that if you started looking from a helicopter view on the client data then we had major problems' - Theo van Koningsveld, Rabobank. 'The shift of siloes into services is the challenge. It proved very difficult to break up the siloes' - Asgrimur Skarphedinsson, CIO, Kaupthing Bank. This report analyses the experiences of leading industry practitioners. It looks at real-life implementations where organisations have used customer centricity to grow stronger (Deutsche Postbank, Alfa-Bank, Alliance & Leicester), or to rebuild from their foundations (National Commercial Bank of Jamaica, Abu Dhabi Commercial Bank); it looks at how the tiny SBAB in Sweden took mortgage market share from that country's four giant banks; and how the model has been used in micro-finance and ethical banking. "Customer Centricity" is essential reading to bankers who are looking to improve their customer service, marketing and the profitability of their customer base. It is of equal interest to IT professionals charged with providing solutions to achieve these objectives, either within the banks or from the consultancy and technology supplier communities.

Table of Contents:
Introduction Customer centricity: What is it? Different views of the customer Why have it - is it important to banks? Reacting to the competitive threat In a changing world But it's only one aspect From a theoretical model to a practical approach for customer centricity Why can't one model fit all banks? Where have we been? Where are we now? The problem with CRM is - Moving on And now? Where are we going? Right products Personalisation versus standardisation What have been the problems? Organisation - maybe the real problem Analysis doesn't necessarily prevent paralysis Your data or mine? Processes Reusability Re-engineering Delivery How are we doing? The metrics issue Customer versus product profitability Who has done it effectively? Some real-life examples where banks are using it The strong get stronger It wasn't my fault! The competition made me! Re-building from the foundations David and Goliath New Pastures New Ventures Remote Control Banks benefit too Conclusion