Speaking with one voice: implementing multichannel customer communications: a look at how one bank overcame internal process silos and was able to generate consistent and customized customer messages--sent through each customer's preferred channel.

• Author: Cox, Doug

THE ABILITY TO SUCCESSFULLY IMPLEMENT a comprehensive customer communication management (CCM) strategy will likely be the single biggest challenge--and opportunity--for every bank over the next few years. Positioning for success in a market environment that is dependent upon having access to the information customers want--and being able to deliver via the channel they prefer--morning, noon, or night via print, electronic, the Web, and mobile devices demands a sophisticated strategy.

Leveraging the power of every channel of communication requires having the ability to first determine the communication preferences of each customer and then have the technology solutions in place to deliver compelling content through that channel. Just as important as communicating through multiple channels is ensuring the delivery of targeted and easy-to-understand statements and other communications when doing so. For example, if an individual has a profile that suggests she may be interested in a new business account, the technology in place should have the ability to personalize her next statement with information highlighting the different options available and of interest to her. Having the ability to access all the intelligence you already have on customers can ensure that all-important ability to put their needs front and center with every communication sent to them.

The day-to-day reality is that implementing a CCM solution is not as easy as simply gathering data and sending it to print. A viable and successful CCM solution that integrates the communications sent to customers with current architecture involves several common hurdles that all banks face, revolving around three issues: data, content and processes.

Data starts the show

The first hurdle--and maybe one of the most difficult--is the ability to obtain quality data. The issue with data, especially at the regional and community bank level, is that the data obtained is often scattered across silos within the bank. For example a master record for a customer where basic things like their address, name and what accounts they have with the bank might be stored in one file. However, this may or may not be easily linked with all of the transactional data that can report what this customer is buying and selling, what his deposits look like, what late fees he is getting and so on.

Another repository, of course, is CRM data. Classic CRM data tells the bank when the last time this customer called, what was the problem they called about or what new products and services information were requested during that call. Sophisticated CCM solutions use data that is even beyond an enterprise's internal transaction and...