Our client is a reputed financial institution, one of the oldest and largest banks in South America. They employ nearly 90,000 people and generate over $50 billion in revenues. Driven to keep up with the rapid pace of technological advancement in the banking sector and recognize the need for change, the client sought the expertise of HCLTech to embark on an ambitious digital transformation journey.
The Challenge
Outdated systems affecting internal and external performance
The bank faced a complex challenge in upgrading their outdated infrastructure to meet modern customer expectations. Legacy applications were hampering efficient customer service and internal processes, while the lack of a unified platform for communication and data management impeded personalized, multi-channel services. They struggled with fragmented customer data, limited digital communication channels and inefficient internal workflows. Additionally, the absence of AI-driven insights and predictive capabilities put the bank at a competitive disadvantage. These challenges threatened the bank's market position and highlighted the urgent need for a comprehensive digital transformation.
The Objective
Modernizing legacy systems to meet contemporary banking demands
The primary goal was to transform the bank's customer services and employee functions by leveraging the right suite of solutions. The objective encompassed creating a single platform for multi-modal communication, implementing AI-driven predictive offerings, streamlining cross-channel customer interactions and leveraging data-driven insights for personalized services and marketing effectiveness. All these aimed to improve customer experience, operational efficiency and the bank's competitive edge in the digital banking landscape.
The Solution
A unified, intelligent and customer-centric banking ecosystem
We deployed a multi-faceted solution centered on Salesforce Financial Services Cloud, Marketing Cloud and Data Cloud. This provided a robust framework for customer engagement, data management and internal operations.
- Migrated customer services and employee functions to Salesforce Financial Services Cloud
- Provided a unified platform solution for multiple modes of communication such as voice, email, chat
- Integrated AI for predictive investment and product offers to offer personalized services to customers
- Utilized Salesforce Data Cloud for personalized marketing and campaign management
- Simplified cross-channel customer interactions through Data Cloud, helping the bank make it easier for customers to contact them
- Implemented multi-channel enablement (SMS, Push Notifications, WhatsApp) to create a seamless, customer-centric experience
- Set up third-party integration with the bank's original database to ensure smooth workflows
- Managed multiple data sources for proactive customer care and relationship management
The Impact
Significant improvements in customer service, efficiency and marketing effectiveness
The implementation not only modernized the client's operations but also redefined its approach to customer service and engagement, propelling a centuries-old institution into the forefront of modern banking. It positioned them as a leader in digital banking services, setting a new standard for financial services in Latin America.
- Faster turnaround time in customer service
- Quicker and more effective campaign orchestration
- Real-time customer engagement with personalized messaging
- Cost optimization through low-code/no-code solutions
