In light of its plans to considerably expand its retail business, KIT Finance Bank faced the task of maximising the efficiency of its sales and servicing channels. The bankâs existing IT environment included multiple disparate banking applications that contained customer data and functionality. The goal of the new solution was to reduce the effort needed to perform transactions at the branches and in the contact center and to shift the focus to sales and servicing clients.
To meet these goals the bank needed a front-office solution that would consolidate information on customers, products and services within a common desktop, standardise and automate all key business processes in sales and servicing customers, simplify and speed-up the work of personnel, and improve quality of servicing through implementation of real-time Next-Best-Actionâ¢ recommendations to the clients. From a technology standpoint, the goal was to integrate with existing systems at the bank and considerably reduce the time required for implementation and modification of banking products.
The bank chose Chordiant because it could successfully manage the above tasks with the use of operational CRM and modern open technologies. The solution is effectively multi-channel, which allows the integration of various customer servicing channels within the single platform. These include contact center, branch, internet bank, electronic self servicing, etc. KIT Bank also selected Chordiant because of IBM and Chordiantâs experience in implementing such solutions at leading banks around the world.
The purpose of the pilot was to test the Chordiant solution in a Russian environment in one sales channel (branch) and with one product line (term deposits by individuals). The standard Chordiant front-office solution was localised and customised to meet the requirements of the bank and integrated with the banksâ existing solutions. Following tests the customised solution was accepted by the bank.
âImplementation of the pilot confirmed that our choice of IBM and Chordiant was correct. The solution allowed us to improve the quality of servicing customers and increase personnel efficiency. One of the most impressive characteristics of the Chordiant front office was the fivefold reduction in the average time to open a term deposit. The joint work of the IBM-Chordiant team allowed us to achieve a solution within limited timeframes,â said Vladislav Bykov, Deputy Director General of KIT Finance Investment Bank.
IBM managed the project and coordinated the activity of all participants. IBM Global Business Services (IBM GBS) consultants and Chordiant specialists designed the solution, which allows new product lines to be added with minimal modification to the existing customer service modules. The front office was integrated with existing systems using a Service Oriented Architecture (SOA) and WEB-services through IBM WebSphere Enterprise Service Bus.
âIBM and Chordiant have a long history of partnership and have successfully implemented Chordiant solutions many times all over the world. This project is an important milestone in our cooperationâit is the first implementation of Chordiant in Russia, and we are happy that this experience was a success. Efficient implementation processes and active participation by the banksâ specialists resulted in the project going live in five months. This is a very good result, particularly when you consider that it had to be localized for the Russian market and customized to suit the client,â said the head of IBM GBS Boris Hohl.