YES Bank Launches a New CRM Solution

Belonging to a sector severely hit by the slowdown, the bank needed a CRM solution to arm its retail and corporate sales teams with information to reach out to the consumer. The expanse of information that the CRM was required to present included customer demographic data like customer segment, income group, etcetera; customer profile data like address, contact numbers, etcetera, and financial relationship data with the bank such as current account, savings accounts, etcetera.

"Customer information was available, but not as a single view. It was spread across different systems that did not always maintain the same customer identifier. Thus, a key challenge was transforming such data to provide meaningful business information," says Umesh Jain, president and CIO, YES Bank.

Since no ready application was available, the YES Bank OneView was developed in-house. While this was the technical challenge, the solution presented Jain with its share of business and project management challenges as well.

Since the success of OneView was based on its use and adoption, business and IT worked together to make sure that the system was user-friendly. Mailers were sent from top management emphasizing on the advantages of the new solution.  "Once the solution was rolled out, user feedback started pouring in with suggestions. These requests were prioritized and incremental enhancements were delivered, increasing the value of the solution," says Jain.

Today, the sales and service delivery teams can obtain customer information instantly in a single page view rather than having to collate data from multiple systems. Data captured on the medium through which a customer prefers to transact, allows the bank to educate him towards a lower cost, more convenient channel (in turn, driving customers to use Netbanking). Jain is happy that the solution has resulted in business benefits of nearly Rs 1.5 crore per annum. Cross-selling opportunities have increased, particularly in the FD and MF businesses. Higher debit card activation and Net-banking registration have resulted in greater customer loyalty.

The Person Behind It

Umesh Jain, President and CIO

YES Bank

“A key challenge was achieving a single view of customer information.”