TIBCO Software Case Studies BMO Financial Group Invests in TIBCO to Deliver Exceptional Customer Experience

	BMO Financial Group Invests in TIBCO to Deliver Exceptional Customer Experience TIBCO Software

BMO Financial Group Invests in TIBCO to Deliver Exceptional Customer Experience

TIBCO Software

Technology Category	Analytics & Modeling - Real Time Analytics Application Infrastructure & Middleware - API Integration & Management Application Infrastructure & Middleware - Data Visualization
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Real-Time Location System (RTLS)
Services	Software Design & Engineering Services System Integration
Challenge	BMO Financial Group faced the challenge of meeting customer expectations in real-time across various channels, including branches, call centers, and digital platforms. With the rise of digital marketing and social media, customers expected personalized and timely interactions. The bank needed to simplify and automate processes, provide real-time information, and create data visualizations to make efficient decisions on how best to serve customers. Read More
About Customer	BMO Financial Group, one of the largest banks in North America, is committed to delivering a great customer experience by making business interactions easier, simpler, and perfectly tailored to individual needs. The bank has a strong focus on digital marketing and social media, aiming to meet customer expectations in real-time. BMO's customer base spans various channels, including branches, call centers, and digital platforms, necessitating a robust and agile system to manage and respond to customer interactions effectively. Read More
Solution	BMO partnered with TIBCO to leverage its expertise and industry domain experience. The bank implemented TIBCO solutions to provide real-time information, identify key incidents, simplify and automate processes, and create data visualizations for efficient decision-making. TIBCO's real-time event processing enabled BMO to trigger actions based on relevant events, ensuring timely and relevant responses to customers. The integration of TIBCO's automated BPM workflows and resource assignment significantly shortened approval times for commercial lending and mortgage approvals. Additionally, TIBCO's solutions facilitated straight-through processing and reduced integration costs, resulting in a robust, agile, and highly scalable system. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Application Infrastructure & Middleware - API Integration & Management

Application Infrastructure & Middleware - Data Visualization

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Real-Time Location System (RTLS)

Services

Software Design & Engineering Services

System Integration

Challenge

BMO Financial Group faced the challenge of meeting customer expectations in real-time across various channels, including branches, call centers, and digital platforms. With the rise of digital marketing and social media, customers expected personalized and timely interactions. The bank needed to simplify and automate processes, provide real-time information, and create data visualizations to make efficient decisions on how best to serve customers.

About Customer

BMO Financial Group, one of the largest banks in North America, is committed to delivering a great customer experience by making business interactions easier, simpler, and perfectly tailored to individual needs. The bank has a strong focus on digital marketing and social media, aiming to meet customer expectations in real-time. BMO's customer base spans various channels, including branches, call centers, and digital platforms, necessitating a robust and agile system to manage and respond to customer interactions effectively.

Solution

BMO partnered with TIBCO to leverage its expertise and industry domain experience. The bank implemented TIBCO solutions to provide real-time information, identify key incidents, simplify and automate processes, and create data visualizations for efficient decision-making. TIBCO's real-time event processing enabled BMO to trigger actions based on relevant events, ensuring timely and relevant responses to customers. The integration of TIBCO's automated BPM workflows and resource assignment significantly shortened approval times for commercial lending and mortgage approvals. Additionally, TIBCO's solutions facilitated straight-through processing and reduced integration costs, resulting in a robust, agile, and highly scalable system.

Impact #1	BMO now connects all customer channels to all products and services across all lines of business, ensuring a seamless customer experience.
Impact #2	The bank uses real-time event processing to trigger actions based on relevant events, providing timely and relevant responses to customers.
Impact #3	TIBCO's automated BPM workflows and resource assignment have dramatically shortened approval times for commercial lending and mortgage approvals.

Impact #1

BMO now connects all customer channels to all products and services across all lines of business, ensuring a seamless customer experience.

Impact #2

The bank uses real-time event processing to trigger actions based on relevant events, providing timely and relevant responses to customers.

Impact #3

TIBCO's automated BPM workflows and resource assignment have dramatically shortened approval times for commercial lending and mortgage approvals.

Benefit #1	Integration costs reduced by 40 to 50 percent.
Benefit #2	Payback from real-time relevant offers was triple the investment costs.
Benefit #3	Positive acceptance of offers has tripled from what it was four years ago.

Benefit #1

Integration costs reduced by 40 to 50 percent.

Benefit #2

Payback from real-time relevant offers was triple the investment costs.

Benefit #3

Positive acceptance of offers has tripled from what it was four years ago.

Download PDF Version

Overview

BMO Financial Group Invests in TIBCO to Deliver Exceptional Customer Experience

Operational Impact

Quantitative Benefit