Customer Relationship Management @ YES Bank

CRM @ YES Bank

At YES Bank, CRM is used as Customer Relationship Database. It has various details mainly regarding the financial aspect of the customer. It also captures data from the sales and marketing team. Data related to operations efficiency is also captured from the branch through this system. This data is systematically and strategically shared among various department of the organization.

 Being a 21st century bank serving the new needs of the modern customer is the prime objective of YES Bank. The bank consciously wanted to avoid settling for a system and working with it just because our organization was still evolving. They wanted a flexible solution that would change in accordance to the dynamics of our business (changing customer requirements). And, hence the concept of the Yes Bank Collaborative CRM (YCCRM) came into being.

CRM Road Map

YES Bank has developed a collaborative CRM solution, called YCCRM, to further its 'customer first' policy. Targeted at sales force and help desks across various departments, it aims to create a mutually beneficial relationship with current and potential customers. It encompasses the complete life cycle of customer values starting from leads to closure of sales to logging their grievances across all retail branches, the call center and NOCs into a centralized system. The solution incorporates a 360 degree mechanism for customer issues monitoring and redressal, wherein the final customer feedback on a particular issue is mandatory for closure. KEY OBJECTIVES OF YCCRM:
Capturing customer/employee ideas Getting buy in from business users Better service, faster processes

Need for CRM

YES Bank felt challenged on various fronts. Specifically,
1. 2. 3. It needed to cope with an increasing volume of multichannel interactions with the customers. It wanted to adopt business automation to improve sales turnaround time (from Lead to Customers), reduce manual data entry and increase speed of the process. The customer care department required an efficient Help Desk Management System where the calls and complaints could be logged in and automatically assigned to relevant employee for resolution with automated escalations.

Earlier, it used to manage its customer relationships via Excel Sheets, which lead to restricted data flow from the customer to the bank. It also lacked interactive features like capturing feedback from a customer.

 Moreover there were instances when they lost sales leads, or multiinterfaces to the same lead and re-assignment of leads. The existing processes and tools also didnt aid employee collaboration. Information was lying in islands, without being shared across, was of no use at all and simply led to lost opportunities for cross/up sell. As YES Bank aggressively expands its business and customer base, it was looking for a Customer Relationship Management solution which is flexible and scalable. They required a solution that could change in accordance to the dynamics of their business and could simultaneously scale to accommodate their growth.

Implementation of CRM
After establishing the need for CRM, YES Bank brought the services of InfoAxon, in order to implement CRM. InfoAxon recognized that an off-the-shelf CRM solution could not fit YES Banks business model which was demand-based and hence very fluid. What YES Bank required was open standards based, flexible, scalable, and Framework-based CRM solution which could be easily changed and adapted with the banks business needs. InfoAxon decided to go ahead with a Java J2EE based Open Source CRM framework. InfoAxon consultants leveraged its Continuous Integration Methodology to create an Integrated Open Source CRM Stack for YES Bank. The Integrated CRM Stack is a single deployable stack which provided open source CRM application integrated with infrastructure components (Redhat Linux, JBoss, PostgreSQL, Apache) to deliver cost effective, flexible, and extensible open source CRM solution stack.

 The Open Source CRM stack covered all the processes right from customer acquisition through to customer servicing. It included following CRM modules: 1. Sales and Leads Management 2. Personalized Dashboards with Activities Planner 3. Help Desk 4. Marketing Management 5. Document Management

CRM changed the processes

Business intelligence Capturing employees/ customers ideas Cross selling &up selling Technology as differentiator

Call Center- YES TOUCH

It has both IVR and voicedriven responses with a host of options such as:

E-Banking
Various services provide to customers through internet banking are:
Payment of Utility Billselectricity, phone etc. Online Railway ticket booking 3-in-1 Demat Account Inter Bank funds transfer (available in select cities) Third party transfers Credit Card bill payments Enable mobile banking alerts

Balance Enquiry FD Rate Enquiry Statement Request Recent transaction enquiry (last 5 transactions) Phone Banking PIN change Request Lost Card Hotlisting Fund Transfer (intra-bank) Stop Cheque Request Cheque Book Request