Bank creates an eBusiness in just 70 days
Bank of Scotland's business banking arm depends on its CRM capabilities in order to offer small to medium businesses a better deal.
Bank of Scotland has created an eBusiness in just 70 days. Bank of Scotland Business Banking uses Siebel's eFinance to create a single, multichannel view of the customer. The bank's business current account, offered through both Bank of Scotland and Halifax, pays 2% less than base rate interest on credit balances for small and medium business customers. eFinance has been deployed among 140 sales and service operators at two UK call centres. They manage, synchronise and co-ordinate contacts with customers over several channels including the branch network, email, telephone, post and fax. Customers who don't wish to visit a branch are offered free business banking forever. The new HBOS (Halifax and Bank of Scotland) Group hopes to achieve over US$200m in additional profits in business banking.
At this stage, the emphasis is on targeting and acquiring customers. Drawing on existing customer records from 26 business units within the HBOS group, the bank has identified small and medium business prospects and is telephoning a substantial number of them every day.