My name is Gayle Ramsey, I am the vice president of customer analytic for BMO Financial Group, BMO Group has been established since 1817. We delivered diverse sets of financial services for individuals, business governments and corporations. The customer interaction at the beginning was very much in terms of reactive to the customer needs, it wasn’t proactive and we didn’t have a full view of what was relevant to that customer.
The channels that we originally started four years ago were traditional channels, a direct mail messages out to the front line statement and it was based on monthly data, so it was delayed and not relevant to the customer. When it was delivered, our goal in terms of evolving from traditional interaction with the customer really was looking at what their needs were.
Most of our customers are moving to more multichannel, more digital focused channels and we wanted to evolve with them, so we wanted to be able to expand and be able to serve them, regardless of the channel they came in, they still have that feeling of having the conversation with the bank.
We put in TIBCO, because they have the ability to provide us with the business services and the real time event capability which is needed by our customers, our salespeople, and associating with them help us offer a better customer experience.
We leverage the typical business process management tools to automate the process and the resource assignment of work flow and it dramatically shortens the approval times and allows us to get back to our customers much faster.
We are using typical spar fired data, visualization capabilities to allow us to log into the line of business productivity, and service availability information allows us to be able to cut through the large volumes of data and create insights in a much more timely manner. We’re able to reduce the time to market by 30% for the service integration platform, in addition to the Business Process Management automation.
We consistently see 30 to 50% of reductions in time to market by using the past history of a customer, we now leverage that in terms of real-time decision, and I call it sense of response. It’s able to identify what the customers have done and know it’s significant to them, and the capability of the business processes allows us to sense, response and react to that actual activity. The thing that customer’s done is unique to them, so the platform domini and the business events capability allow us to maintain a history or view of a customer, and use that into the next channel. So it maintains, it records an event that we’ve asked them to keep an eye on, then we leverage that.
When a customer walks into another channel, we can pass that information to our engine and it will make decisions on what to present, and then present it in that channel. The payback of the broader project was part in terms of real-time relevant offers, the investment that we put in was paid back in about nine months.
A customer’s event is critical in terms of making sure it’s timely, we do it in the real time based on the strong foundations we have. Platforms will be able to continue to provide great IT tape abilities to support the business, focusing on the customer experience.