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success stories / Dynamics CRM Improves Customer Relationship and Increases Sales by 20%

 

About Customer

NCB Capital is the GCC's leading provider of wealth management services and Saudi Arabia's largest asset manager. The company is focused on providing clients with the most appropriate and timely investment portfolios in order to meet their individual financial goals. Its efforts were recognized by various institutions and media outlets, such as Islamic Business & Finance magazine, Central Bank of Bahrain and Euromoney, which awarded it the titles of Best Asset Manager Award and Best Research Company.

With over one million clients and SR46 billion ($12 billion) of assets under management, NCBC is the largest asset manager in the Kingdom, delivering its products and services through professionally accredited advisors as well as through AlAhli Tadawul.com

Situation

NCBC has a broad customer base spread across a large territory, which means that their relationship management teams and sales teams needed the right tools and information to stay in contact with their customers and offer them new products. Another important challenge was that the bank was not able to effectively manage its future revenue-generating activities, which impacted its ability to grow.

The moment for decision came, when the bank performed a customer survey to update its customers’ profiles to maintain compliance. The survey is performed every three years and NCBC received feedback from its customers who were looking to have closer relationships with their wealth managers and increased options for purchasing products.

Implementation

​In 2011, NCBC began evaluating different solutions to address its customer relationship management needs. After considering various solutions, including Oracle and Siebel, the company decided to use VeriTouch, a CRM solution for financial institutions. It implemented several modules, including 360 Single View of Customer, Sales Management, Value Proposition Management, and others. The solution was planned and deployed in 8 months by NCBC and its partner, VeriPark.

“We performed implementation services for NCBC and migrated their existing data to the new system,” said Mohammed Adeel Khan, Head of Projects at VeriPark. “We also focused on pinpointing individual processes that we could automate and ensure that data was passed transparently between VeriTouch and related systems.”

Benefits

By implementing VeriTouch, NCBC addressed its main challenge by empowering individual wealth managers to proactively manage their customer base and establish closer relationships that drive more value for the bank. Thanks to VeriTouch, wealth managers can now access a complete overview of their customers with a single click. The 360-degree view provides information about interaction history, static customer data and existing products and services used by the customer.


NCBC also automated its account planning and sales processes. Previously, there were no links between different types of information, which made it difficult to plan activities for individual accounts. Wealth managers were unable to easily find and propose additional products and services that would be suitable for their clients. By automating these processes and linking them together, NCBC and VeriPark were able to create customer profiles that generate product recommendations and services for each client depending on the wealth band and customer risk profile. Another benefit of automation is the ability to track sales performance in relation to plans and forecasts. Wealth managers love using the solution as it provides them with a way to measure their performance in relation to targets. "Our wealth managers use this great tool to capture everything about our customers’ status, requests and behaviors,” said Fuad Altaweel, Head of CRM, NCB Capital. “They can better plan their accounts, schedule follow-up activities and meetings and adjust their sales activities based on sales targets, which helps them be more successful."