Bank
Investment bank vendor selection
Challenge
The bank were going through a significant customer management transformation, due to the nature of the customer base (all high value) customers were traditionally managed through personal relationships and excel workbooks.
Having seen success after transitioning to Dynamics 365 CE for sales and service activities, the bank began to explore digital engagement technology for online personalisation and offer arbitration, however lacked the internal expertise to properly shape the vision and assess potential vendors.
Solution
Due to the bank’s lack of previous experience in the digital engagement and decisioning space, it was important that the relationship managers were managed carefully, as they were suspicious of customer decisions and offers being taken away from them. We identified the most willing members of this community to engage in workshops alongside marketing and insight to develop hero use cases – using the opportunity to educate them and evangelise on the benefits of data driven offer recommendation to support their existing activities.
After collecting and shaping the key use cases, alongside technical requirements, we recommended a suitable vendor list for assessment, built the scoring model and assessment process, and engaged 4 vendors through a process including proof of concept for D365 surfaced offers and digital offer presentation in authenticated channel (app and web), ultimately landing on the best fit solution.
Results
The bank successfully selected an appropriate tool – suitable in the technical, commercial, and scale sense, as well as the vendor’s commitment to business partnering and support. We were able to hand over to the banks internal team and vendor deployment resource, providing ad-hoc guidance and support at points throughout the deployment.
Ultimately, the deployment was successful and the bank was able to benefit from a more sophisticated blend of offer management to support their relationship managers while also developing a more general relationship with their customers via the marketing team.
