NatWest is overhauling its marketing strategy by implementing a new CRM system from Microsoft to boost customer relationships and cross-selling opportunities.
The bank said its legacy systems were being stretched to the limit to provide CRM functionality, and so it looked for a new solution to keep up with business and customer demands. The Microsoft Dynamics CRM solution was chosen ahead of alternatives from Salesforce.com and Oracle.
David Russell, head of CRM for business and commercial banking for the Royal Bank of Scotland (RBS), which owns NatWest, said: “We sought powerful analytics capabilities that would allow us to further improve customer relationships while driving cross-selling opportunities through value-added customer interactions.
“CRM helps us to deliver a personalised service, which supports customers in achieving their ambitions,” he added.
Before implementing the system, employees would spend around 30 minutes preparing for a customer meeting, as they had to print documents and make phone calls. That has been cut to a matter of minutes, said Russell.
“We built our business case on increased product cross-sells. Our ROI analysis informed us we would have a payback period of five years,” he stated.
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