Boston, MA, USA
June 18, 2004
CRM & Channel Delivery Strategies: A Case Study
on TCF Bank
Report Published by Celent
This case study looks at how one bank used customer
knowledge when selecting an Internet banking application.
In a new report "CRM & Channel
Delivery Strategies" Celent examines how TCF Bank, subsidiary
of TCF Financial, choose an internet banking application. TCF recognized
that their customers are becoming increasingly savvy on the Internet and
they wanted to find a way to offer premium services.
The report looks at how TCF Bank segmented their
customer data according to customer preferences for online features and
functionality. After analyzing the segmented data, TCF concluded that they
could best serve these segments by offering a tiered online banking
service. In order to do this, they needed to upgrade their online banking
technology. Thus, to fulfill their marketing strategy they had to
implement a newer, more robust online banking application.
TCF's experience illustrates two important
conclusions. First, in order for banks to gain full value from their
customer relation management technology and processes, they have to apply
segmentation and analytics to their delivery strategies. Second, banks
must implement front-end applications that optimize these strategies.
According to Anjalee
Davis,
banking analyst at Celent and author of the report, "If banks wish to
gain full value from their investments in customer relationship management
technology and reengineering processes, they need to leverage customer
knowledge during any phase of customer interaction. Those that succeed can
provide pro-active personal service and implement targeted selling in all
of their delivery channels - branches, online banking, call centers, and
ATMs."
A Table
of contents
is available online.
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