Case study client relationship management banking luxoft for top10 global investment bank
For more information about Luxoft, visitwww.luxoft.comwww.luxoft.com/financial-services/case studyClient Relationship Management Systemfor Global Investment BankSummary26.09.2012Build a vertical client relationship management (CRM) solution that is tailored tothe global investment bank’s strategies and business processes.uu Client: A top five global investment bankuu Business Area: Client Relationship Managementuu Technology Set: Oracle, Java, Hibernate, ORM, Spring Framework/MVC, Liferay portal, SSO, Cognosuu Integration: Dealogic, BoardEx, Lotus Notes/Outlook, proprietaryrevenue and credit systemsuu User Profile: Sales Managers, Global Relationship Managers, SeniorExecutives within CIB/Global Banking divisionsOver 5000 users worldwideuu Geography: Americas, Europe, and Asiauu Relationships Status: Ongoing ODC, Fixed Priceuu Services Provided: Full cycle: Business analysis, Development,QA/Testing, Maintenanceuu Team Size: Over 30 team membersuu Duration: Over 5 years development and maintenance
Business ChallengeThe bank’s Corporate Investment and Global Banking divisions neededto improve the quality and efficiency of their client relationships and todecrease overall transactional costs. To achieve greater agility in the market,the bank defined the following high-level requirements for theCRM solution:uu Standardize client information across the global banking departmentsand divisionsuu Add marketing functionalities to improve the quality of clientrelationshipsuu Provide key performance measurements for client relationships andmarket data to improve decision supportuu Provide support for finely-grained, bank-specific entitlement rulesuu Develop a plan for user adoption and business process unificationuu Develop a migration and rollout plan that will eventually absorb andreplace all legacy CRM applications used by the global investmentbanking divisions02Luxoft - Case StudyLuxoft Delivered SolutionLuxoft built a solid foundation with a client-centric database thatconsolidates and distributes the client information across the bank basedon the bank’s client hierarchy, to improve user adoption while unifying thebusiness processes.The system is integrated with multiple sources of data, downstreamconsumers, and external data providers to enhance decision-making andalignment with the bank’s overall strategies. Its unique security modelprovides secure access to data via entitlement rules without sacrificing theapplication’s ease-of-use. The state-of-the-art technology platform, withextensive use of open source components, provides cost-effectiveness,maintainability, scalability, and performance. The functional highlights ofthe CRM application include a client workbench concept to aggregate anddistribute client data:uu Contact management tools provide comprehensive client contactdetails with BoardEx integration for new business development
03Luxoft - Case Studyuu Relationship management tools for the client service team, along withvisual tools to explore the client relationship network and to determinerelationship strengthuu Client interaction tools such as Forward Calendar that is integratedwith multiple mail clients (Outlook or Lotus Notes) and Call Reports forlogging meeting results with entitlements for highly sensitive contentuu Client Wallet provides analytical views of the bank’s performance for aparticular client compared to competitors and the overall performanceof the respective industry sectors, regions and productsuu Pipeline management tools log prospective deals and opportunities,and provide a deals pipeline workflow to track deals from pitched toclosed statusuu Marketing management tools for events, materials, and campaignsuu Client Financial tools give visibility to revenues, credit and risk-adjustedreturn on capital, and credit ratings; client profitability analysis; and acomprehensive market intelligence dashboard for industry analysisuu Advanced reporting with a comprehensive MIS subsystemuu Advanced search facilityuu Entitlements management using industry- and bank-specific rulesuu Configurable layout for ease of use and to facilitate adoptionThe application is used in all of the bank’s locations across the Americas,Europe and Asia. There are currently over 5,000 registered users from salesmanagers to senior executives.
04Luxoft - Case StudyBenefitsThe bank realized incremental savings with the new CRM application thatprovided the following key benefits:uu Accurate, up-to-date, and comprehensive views of each clientrelationshipuu Improved cross-selling capabilities due to the data being split intoa single-client view conceptuu Improved user experience through intuitive user interface and easeof navigationuu 9,000 hours of yearly labor savings for call reports logging onlyuu 30-40% estimated development cost reduction from outsourcing toLuxoftuu Improved functionality, flexibility and performance when comparedwith legacy applicationsuu Major cost savings as a result of moving to open source componentsuu and hardware decommissioningCustomer Feedback“Our Luxoft team continually proves that they are as committed to our successas we are, that they are prepared to lead rather than simply follow, ensuringthat we get the best possible solution based on an objective assessment.”Daniel Marovitz, Managing Director, Head of Product Management,GTB & COO of Technology and MIS