Beyond Bank achieves transformation with Microsoft solution in a Southeast Asian first
Customer:
Beyond BankChallenge:
- Complex network of software applications affected customer service and sales opportunities
- Lack of integration slowed loan approval and other processes
- Essential information stored in disparate systems prevented a complete customer view during an interaction
Solution:
- Implement a comprehensive cloud-based solution leveraging the Microsoft stack
- Integrate the CRM system with the core banking system and all external data sources
- Implement a document management solution and editable grids
Results:
- Complete view of the customer accessible from any location
- Range of sophisticated reporting abilities
- Substantially lower cost of ownership
Beyond Bank achieves transformation with Microsoft solution in a Southeast Asian first
Solution
To achieve the functionality and cost savings it was looking for, Beyond Bank needed to commit to an overarching technology refresh that would deliver significant new functionality.
Beyond Bank worked with DXC Eclipse, a practice within DXC Technology, to select a complete Microsoft Office 365 implementation that utilises the entire Microsoft stack to deliver a seamless, efficient and effective user experience.“The solution will give staff members more ownership of the customer relationship. We anticipate that this will lead to improved staff satisfaction and more motivated employees, since they can contribute directly to organisational success.”
Benefits
The solution is delivering a number of technological and business benefits for Beyond Bank.
Moving to a cloud-based approach was crucial. It delivers to Beyond Bank key functionality and significant financial savings that would not have been possible otherwise. For example, the cloud-based approach means bank representatives can access the system from any location using a touch-screen device, letting them sign up new customers immediately when in the field. “The cloud-based delivery model means we get upgrades and patches directly without having to wait for, and plan for, an on-premises upgrade,” said Aitken. “This gives us a vastly improved and agile technological environment compared with the one we had previously, with legacy systems that did not integrate fully with each other.” The increased integration enabled by Azure Service Bus has successfully transformed the bank’s business processes, streamlining them and removing unnecessary manual work. By automating where possible, the bank will continue to reduce the time for common processes such as onboarding and opening new accounts, while reducing the potential for errors. “A key goal of this project was to put all customer information into a single location,” Aitken said. “We now have that, along with seamless integrations that mean a change made to a customer record in the core banking system is now immediately reflected in the CRM system and vice versa. We’ve reduced the number of clicks it takes to get a 360-degree [view] of the customer by more than 30. “This delivers a competitive advantage to the bank. We have a complete view of the customer, accessible from any location, along with a range of sophisticated reporting abilities. So now we know everything we need to about the customer, and we can see how we are performing overall in terms of converting more leads into sales, for example.” Using the various elements in the Microsoft stack, Beyond Bank can gain a truly 360-degree view of the customer. Previously, the bank’s CRM system contained only basic customer information. Now, through Dynamics CRM, Dynamics Marketing and Social Listening, the bank not only gains that 360-degree view, but it will also seek to predict customers’ future behavior (by leveraging Azure Machine Learning). This is a powerful competitive tool for the bank because it can direct resources and funds toward initiatives that are most likely to deliver increased business. Importantly, the Microsoft solution has demonstrated that financial institutions can dramatically lower the cost of ownership of mission-critical systems. Most banking systems are legacy, on-premises solutions that include significant licensing and support costs. These overblown solutions were necessary in the past but, with the advent of local data centers, Beyond Bank was able to reduce its cost of ownership substantially by choosing the Microsoft stack delivered by DXC Eclipse. Aitken said, “With the full solution set to go live, staff engagement has already been exceptionally positive and proactive. We anticipate seeing a very strong return on investment in three key areas: sales, efficiency and staff engagement.” Beyond Bank anticipates seeing a higher quality of intrabusiness referrals, increased sales per customer and increased customer satisfaction as a result of the new system. When it comes to efficiency, the bank expects a reduction in the time it takes to assist each customer due to consistent and streamlined business processes. Staff will have fewer screens to click through, which will also save time and provide faster access to the information they need. “The solution will give staff members more ownership of the customer relationship. We anticipate that this will lead to improved staff satisfaction and more motivated employees, since they can contribute directly to organisational success,” said Aitken. In the future, Beyond Bank intends to leverage Voice of Customer to proactively survey customers on any number of topics. The data will tie back into Dynamics CRM, and the bank will use Power BI and Azure Machine Learning to analyze the data and extract insights that it can then act upon.Working with DXC Eclipse
DXC Eclipse’s team of consultants was embedded into Beyond Bank’s offices for 18 months. This provided the DXC Eclipse team with a deep understanding of financial services and banking processes.
According to Aitken, “The DXC Eclipse team made a huge commitment to this project and the results have been clear. The project team, made up of DXC Eclipse staff members and Beyond Bank employees, has worked as a single entity. The DXC Eclipse team has lived our values and shared a wealth of knowledge about the products with the Beyond Bank team. “Banking has a language of its own. By embedding the DXC Eclipse team with the Beyond Bank team, the DXC Eclipse staff was able to proactively add suggestions regarding how to get the best possible results. Rather than simply delivering a written requirements document and then developing accordingly, the team was able to work to an agile methodology, contributing equally to outcomes. “This project is one of the most significant projects Beyond Bank has done in 10 years. This has been truly transformational and a real game-changer for the organisation.”