VP Bank is an international private bank headquartered in Liechtenstein. The bank was seeking a new Client Management software to improve the counseling for their private and business clients as well as intermediaries. The decision was made in favor of ACTICO's Client Management software which was to replace the system developed in-house. In conjunction with that, a new core banking system was implemented and connected to the Client Management software. Two of the main requirements regarding the new Client Management software were multi-tenant capability and stand-alone data management at each of the bank's global sites. Furthermore, the bank attached great importance to the concept of individual authorization in order to secure the safety of sensitive client data.
The implementation of the Client Management software and the core banking system took place at the same time – a big challenge for the entire team. Since both systems possessed a similar data model, it made synchronization of the data easy. The project had an ambitious schedule: 12 months from kick-off to roll out. The front-end "power users" played an important role. They defined the requirements, tested the system and conducted the training. Due to early integration of all users, as well as intense training sessions, the new joint system is highly accepted by relationship managers, administrators and top management.
In Zurich, Liechtenstein, the British Virgin Islands as well as in Singapore, VP Bank now has a process-oriented customer relationship management system with many functionalities such as a daily work list, including directions and to-dos for the relationship manager. In the module Discussion Preparation the relationship manager can revert to standard specifications such as the client journal and the last feedback from this client. Process-oriented workflows ensure adherence to the multiple-eyes principle.
The corporate culture of VP Bank regards client feedback management as a crucial factor in ensuring client satisfaction in the long run. To that end it is important for the relationship manager to answer questions and proposals promptly, and to make suggestions for improvement. Therefore, the feedback management module is integrated in the entire Client Management solution and the affected processes are completely displayed. This saves valuable time and ensures that all client feedback is handled in an appropriate time and manner. When a relationship manager does not answer a client inquiry within the defined time period, the supervisor is informed via an escalation workflow.
Another appreciated functionality is judgement of the cooperation with internal departments in order to create support for the bank's internal continuous improvement process. Additionally, management has the ability to view the status of client feedback management at any time, thanks to reports in the system.
"Our CRM System, myClient, is rooted in the customer relationship management system from ACTICO. It was introduced in tandem with our new core banking system, which presented the project team with unprecedented challenges. We are continually expanding the system so we can ensure that myClient always provides optimal support for client consulting processes. That's where ACTICO proves its value! It is a partner whose experience supplies the necessary expertise in consulting and implementation."
Petra Kreis, Project Manager, Implementation of myClient, VP Bank in Liechtenstein