An efficient process of selling products and services is at the core of every firm. The same applies for banks which operate at an ever more competitive market. Market success reached at low risk and costs depends on using advanced IT tools. What comes into play, are systems automating client servicing processes supported by analytical tools.

A Key to the Bank’s Success

Client servicing should follow a pre-defined strategy and ultimately lead to achieving the organisation’s goals. This area is of particular importance for a commercial bank which should demonstrate rising sales and profit figures. Market actions may succeed with adequate sales targets, automation and an acceptable risk level. That is why a growing number of banks decide to implement BPM class systems supported by analytical tools. Let us take a look at the options offered by such solutions at various stages of client servicing process.

Client servicing process

An advanced BPM platform may comprehensively support a multi-stage process of client servicing which concerns selling financial products and services. The pre-sales phase comprises a selection of the target group, preparation of an offering and contacting the client. The selling phase mainly regards negotiating the parameters of products, services and the agreement. Post-sales aim to build a relationship and cooperation with the client is monitored. Thanks to a growing knowledge of the client and its needs, dedicated cross-sell offerings are presented on-line to the client. Measures are also taken to predict and prevent the clients leaving.

In case the end of cooperation with the client is due to agreement expiry or the client’s default, we most often deal with soft or hard collection. It is hard to imagine high effectiveness without IT tools supporting such a complex process. How does the BPM platform support the bank?

The Role of BPM Platform in Client Servicing

At the first stage of client servicing it is particularly important to select prospective clients, prepare a dedicated offering and provide for a multi-channel effective communication. On the modern BMP platforms, following the configuration of models by business users, dedicated mechanisms pick the recipients of sales actions and campaigns, they prepare and calculate pre-approved offerings, register requests placed, support the negotiations with the client and also enable analysing actions’ effectiveness. Business users can also prepare on their own the templates of e-requests used in communicating with clients via remote channels.

It is the client’s registration of all the activities and needs that comes as the platform’s main support in the sales phase. It is also possible to record staff activities, as well as to automate the activities of presenting and negotiating an offering, as well as completing the sales process. The users have at their disposal analytical tools detecting abuse and fraud, assessing clients’ credibility and value, and those enabling sales analysis.

Automation of after-sales activities is connected with monitoring and analysing the client’s activity, defining its current needs, handling instructions, identifying the risk of termination of cooperation. Monitoring and modification of security measures, including insurance related to various products, is also carried out, as well as preparation of necessary documents.

One platform for multiple processes

Client servicing processes are becoming increasingly complex and costly while being at the core of every organisation. It is necessary to match processes strictly with the needs of a given client. Time and quality of service are crucial here, as well as the option of handling the issue during one interaction with the bank. From the bank’s perspective, on the other hand, it is important to reduce client servicing costs.

That is why the Ferryt Platform by DomData has come into being. It serves to automate and comprehensively handle processes at organisations. The business user plays the main role here, as it is the person who can configure the processes, without the involvement of the solution provider and the IT departments of the bank. The user can respond to an emerging business need quickly, flexibly and at any time. In this way the user implements necessary changes to the processes while attaining a very short “Time to Market”.