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Knowing Your Customer Better Tomorrow Than You Do Today

Enabling a 360 Degree View of the Customer

A regional financial institution understood they were not effectively managing customer relationships, nor capitalizing on the potential value those relationships held.  Their obstacle was a tangle of legacy systems that had different views of their customers – one that saw accounts first and the people behind the second. 


The first step in improving your customer engagement is to know everything about your customer.  A single view of the customer and all of their interactions and relationships is creating a 360° view of your relationship.

The Challenge

Tap into available information to see the whole customer and understand where they were on their life journey, what help they might need and what opportunities the bank might have to increase the value of that relationship.

Strategy and Goals

Many people have grown up with the belief that their local bank had a relationship with them.  After all, they were trusted with your hard-earned money, they helped you pay bills, financed the car you drove, helped you finance your home, and gave you a credit card and called you if it was being used out of character.  When you looked in the mirror, you thought you saw the same person the bank did.  In reality, they saw 5 different people.

The financial institution envisioned a single record of the customer fed by whatever process was most efficient for a particular task with an evolving view of the overall relationship.  Applying analytics they could spot and react to opportunities at the perfect time.  They were looking for a strategic road map that would get them to the ultimate vision but building to that end state in a way that generated early returns in value.

Bringing together key stakeholders from the bank across functional areas, the consulting team from RCG conducted focused workshops and data gathering sessions over a six week period to deliver a Strategic Digital Roadmap that laid out the strategy and architecture needed to realize the customer’s vision.

This roadmap blueprinted how to achieve a single 360° view of the customer via a Master Data Management program leveraging Big Data technology. This new data ecosystem was designed to cost-effectively and securely run in a cloud environment, allowing for ease of implementation with the scalability needed to achieve the overall plan.

The Final Results

360-degree view of each customer
The bank is now positioned to create a single, 360-degree view of each customer that is accessible to customer-facing associates within the bank. This capability will remove the awkward “who are you” moments that have impeded Customer Satisfaction for years.

The Conclusion

The end state will enable the bank to more effectively leverage their 360° view of the customer to market to a customer segment of 1 and maximize their relationship while minimizing their cost to serve that client.  The added benefit is the bank’s ability to positively impact the Customer Experience, seeing the same person their customer sees in the mirror and not 5 different accounts they represent.

Financial Services

RCG Service Offering
Strategy & Roadmap

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