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Leading “Customer Centric” South East Asian Bank CIMB consolidates statements and satisfies customers.
- Consumer bank in Southeast Asia
- Serves over 5.3 million customers in Malaysia, Singapore, Indonesia and Thailand
- Offers a broad product line, including savings, loans, credit cards and investment accounts
It’s one thing to say you’re customer-centric. It’s another to deliver.
When CIMB Bank first tried to consolidate monthly statements, the results were not promising. They wanted to add clarity and convenience but ended up with confusion, workarounds and waste. Their in-house system simply could not integrate every account.
They contacted Pitney Bowes. Soon their customers could see all of their accounts on a single page. Going beyond transactions, CIMB added new content including portfolio summaries, breakdowns by product type, local currency equivalents and targeted offers.
CIMB Bank needed a better way to serve their high-end customers. They issued an RFP in search of a technology partner who could provide an end-to-end solution:
- Verify and match data across multiple systems
- Consolidate information across all accounts
- Add personalised marketing messages
- Automate processes
- Introduce e-statement capabilities
- Support multichannel delivery
Solution and results
Partnering with Pitney Bowes, CIMB gained every one of the capabilities they required, all seamlessly integrated, from data to statement design, personalisation, production and storage:
- Consolidated customer records
- Compelling, personalised consolidated statements
- ntegrated, personalised value-added insights
- Streamlined production
- Instant archiving
- Easy document retrieval
- Spectrum™ Technology Platform
- Data Matching & Standardisation
- Data Flow Data Integration
- EngageOne Server
- EngageOne Designer
- Content Author
- EngageOne™ Vault
Creating customer-centric account statements was just the start. Now CIMB Bank saves time and money and delivers a new customer loyalty programme all through their Pitney Bowes solution.
“Consolidating statements has also brought us cost savings through reduction of paper, printing and postage costs, as well as elimination of manual processes,” notes David Chong, Head of Retail Strategy & Marketing for CIMB Bank. “We’ve managed to shorten the time taken to process and generate consolidated statements from five days to two despite the expected ten times increase in volume.”
With an ability to connect physical and digital content, CIMB could move forward with plans for a more robust e-Banking experience and new marketing programmes. “The newly gained capability on loyalty programme,” Chong adds, “has enabled us to offer new products and services to the customers and market.”
We’ve managed to shorten the time taken to process and generate consolidated statements from five days to two despite the expected ten times increase in volume.
Head of Retail Strategy & Marketing, CIMB Bank