Customer 360 in Banking

Customer 360 for Banking: Innovation Lab

CTO Boost worked with one of Canada’s largest banks to break data silos and  bring client data in one place gaining the full view on their customers.

The Situation:

During the onboarding process, client accounts were created with separate client IDs, meaning there was no full client profile view. With multiple data silos across departments, tracing client activity became a struggle and one of the biggest bottlenecks within the organization. Lack of a single unified view bread inaccuracies with names, addresses, places of work, etc.

Our Solution:

CTO Boost brought forth the solution of Customer 360. Our goal, to create a database that consolidates client information to provide a single unified view in order to better deliver on their client needs, provide support, and understand the client persona to identify potential future clients. Together we worked to remove discrepancies and merge cross departmental customer information into one.

What Customer 360 provides:

Prior to implementation of Customer 360, analysts lacked the capability to query multiple client profiles. With data siloed across departments, analysts were unable to answer questions such as, “What clients are at a life-stage, such that they may be looking for a mortgage in the next year?” or “What clients are in a low income and or high risk bracket?” The bank did not account for a means to obtain a consolidated client profile, or to transverse through the client timeline to identify life changes which would allow analysts to recognize coming needs. Together we were able to address that demand and work to create an organizational method for data in a single view.

Throughout the process, as well as after the project, CTO Boost was there to provide technical support and training to ensure success and provide the bank with the knowledge to manage the platform. Now after project completion, the bank can better identify their customer financial needs and provide solutions with ease for continuous customer excellence.

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