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Wescom Credit Union Case Study (2)
Situation:
Wescom Credit Union is in the competitive financial market,
where service is many times the only differentiator between
whether members (customers) select them as their "Primary
Financial Institute" (PFI) or another credit union or
bank.
Critical Issue:
At the core of Wescom's Customer Relationship Management (CRM)
strategy is to enhance the relationship between Wescom and
its members.
Reasons:
Allow credit union employees to better know members and
enhanced service. The CRM strategic goal will translate into
higher membership retention, attract new members from its
community, develop higher level of services and products
targeted toward the highest value members.
Financially, it will
result in optimizing on-going operational costs and expand
member revenue opportunities.
Capability Needed:
"Event Tracking": The ability to track the beginning
and ending of members transaction regardless of which channel
(voice, IRV, e-mail, chat, and branch) used by the member (customer).
Specifically:
- Monitor, track,
report, and store member experiences from the branch
- Management of e-mail
interactions
- Self-help functionality
via IRV integration and FAQ databases
- A single view of the
customer, business rules, workflow, and agent interface acr
- Modular, fully
integrated functionality that can grow as a prospect's
business expands
- A centralized data
repository
- Cradle-to-grave
reporting (point and click, ad hoc, summary, trending,
OLAP (OnLine Analytical Processing), drill down
- A customizable,
intuitive agent console
- Points of
integration with other Agent Desktop applications
- Management of live
telephony and Web-collaboration interaction
We Provided:
SCI designed and implemented a communication solution that leverages
Wescom's existing infrastructure investment (Symitar Core Banking
System, Call Center, Telephony, Data Networking, member databases
and application servers) to accomplish the Credit Union's CRM
goals.
Specifically:
- Upgrade
Communication Server
- Compute Telephony
Integration (CTI) integration development to keep Wescom
connected to their members and their data to complete
members transaction requests
- Custom developed application
to track member experiences while being serviced at the branches
called "Event Tracking"
- Designed and
Implemented Contact Center Interaction Software to apply
"business rules" call routing giving the best members
priority treatment
Results:
- Enhanced Member
Retention and associated revenue
- Higher ROA
- Market Segmentation
based on actual member service experiences and
transactions
- Develop vertical
market strategies to encourage existing members to
choose Wescom as their "Primary Financial Institution" (PFI)
there but increasing shares per member ratio
- Attract new
membership due to delivering better services compared to
the competition
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