Aptean Case Studies Banking on Better Service

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	Banking on Better Service Aptean

Banking on Better Service

Aptean

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Sales & Marketing
Services	System Integration
Challenge	Building and maintaining solid member relationships, technological innovation, and exceptional service have long been the core of BlueShore Financial’s success. In the competitive, rapidly changing financial services industry, BlueShore Financial needed to improve its understanding of each member and expand the value of every relationship. BlueShore Financial needed to better match up services to members in order to improve customer retention, increase profitability, and provide superior service in an increasingly competitive environment. Read More
About Customer	BlueShore Financial provides expert advice on banking, loans, investments, and insurance. It has $1.8 billion in assets under administration, nearly 300 employees, and 40,000 members. BlueShore Financial is a credit union that operates in the financial services industry. The company is based in Canada and has a strong focus on providing exceptional service and maintaining solid member relationships. The company is committed to technological innovation and is constantly seeking ways to improve its understanding of each member and expand the value of every relationship. Read More
Solution	The goal of this more personalized service was to ensure that instead of waiting for a member to initiate a loan, mortgage, or financial consultation, BlueShore Financial could use sophisticated “profiling” technology to proactively target candidates for financial services. The idea was that by using factors such as age, family situation, and financial outlook, BlueShore Financial’s employees could build a solid profile that allows them to make precisely timed, strategic offers. The result was a system that provides for a holistic relationship view of each member. Employees can investigate a member’s full financial picture and determine who may be considering a mortgage or thinking of retirement. As part of this profiling, BlueShore Financial records when a member has a mortgage or investment elsewhere. It can then take the initiative when The term of that mortgage or investment may be ending. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Sales & Marketing

Services

System Integration

Challenge

Building and maintaining solid member relationships, technological innovation, and exceptional service have long been the core of BlueShore Financial’s success. In the competitive, rapidly changing financial services industry, BlueShore Financial needed to improve its understanding of each member and expand the value of every relationship. BlueShore Financial needed to better match up services to members in order to improve customer retention, increase profitability, and provide superior service in an increasingly competitive environment.

About Customer

BlueShore Financial provides expert advice on banking, loans, investments, and insurance. It has $1.8 billion in assets under administration, nearly 300 employees, and 40,000 members. BlueShore Financial is a credit union that operates in the financial services industry. The company is based in Canada and has a strong focus on providing exceptional service and maintaining solid member relationships. The company is committed to technological innovation and is constantly seeking ways to improve its understanding of each member and expand the value of every relationship.

Solution

The goal of this more personalized service was to ensure that instead of waiting for a member to initiate a loan, mortgage, or financial consultation, BlueShore Financial could use sophisticated “profiling” technology to proactively target candidates for financial services. The idea was that by using factors such as age, family situation, and financial outlook, BlueShore Financial’s employees could build a solid profile that allows them to make precisely timed, strategic offers. The result was a system that provides for a holistic relationship view of each member. Employees can investigate a member’s full financial picture and determine who may be considering a mortgage or thinking of retirement. As part of this profiling, BlueShore Financial records when a member has a mortgage or investment elsewhere. It can then take the initiative when The term of that mortgage or investment may be ending.

Impact #1	Improved understanding of each member and expanded the value of every relationship
Impact #2	Better matched services to members
Impact #3	Improved customer retention

Impact #1

Improved understanding of each member and expanded the value of every relationship

Impact #2

Better matched services to members

Impact #3

Improved customer retention

Benefit #1	Dramatic increase in revenue — up 41%
Benefit #2	Rise in profitability — up 40%
Benefit #3	Improved employee satisfaction — up 11%

Benefit #1

Dramatic increase in revenue — up 41%

Benefit #2

Rise in profitability — up 40%

Benefit #3

Improved employee satisfaction — up 11%

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Overview

Banking on Better Service

Operational Impact

Quantitative Benefit