SAIB drives into retail market with CRM technology

Situation

Despite developing a range of retail banking products that suited the needs of customers SAIB's entry into the market was less than successful. To open a bank account or approve a loan took between three and five days because the process was largely manual. Customer service was also sporadic because again, its processes were manual. These lengthy periods of time were effectively undermining the bank's entry into the retail sector.
Solution

Following an appraisal of other CRM systems SAIB charged its IT partner VeriPark with implementing Microsoft Dynamics CRM and VeriTouch, an operational CRM technology designed to dovetail with Dynamics CRM to enhance customer relationship management. VeriTouch, developed by VeriPark, is considered to be the leading vertical solution for the financial services industry specifically developed on the Microsoft Dynamics CRM platform. A large number of modules were implemented including call center desktop, complaints management, retail customer on-boarding and account opening, loyalty, marketing, sale and prospect management and electronic forms.

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Benefits

Increased market share in consumer loans
Increased conversion and win rates
Increased customer satisfaction
More accurate customer feedbacks and correct decisions

About Saudi Investment Bank (SAIB)

The Saudi Investment Bank (SAIB) is a prominent financial institution that has been successfully operating in the Kingdom of Saudi Arabia for more than 35 years. It has over 48 branches and 11 branches dedicated to women customers. SAIB offers traditional wholesale, retail and commercial banking products. They arrange financing of quasi-government and private industrial sectors and trade finance products for facilitating imports and increasing Saudi exports. On the retail side SAIB offers a comprehensive range of Sharia compliant products. It also provides a comprehensive range of Treasury and Institutional Banking products and services.