Customer service at Migros Bank was not yet fully digitally supported: Preparing for and documenting customer consultations as well as following up on them were time-consuming tasks and required switching between systems and making manual entries. Additionally, different banking advice solutions used in the bank’s individual branches resulted in different processes. Analyses revealed analogous regional differences in customer satisfaction.
Banking
70% more cross-selling and upselling: Migros Bank implements customer-centered banking advice navigator with BSI Software
Success in numbers
33%
NPS improvement within 6 months
70%
more cross-selling and upselling during the financial advice process
35%
more leads from customer consultations
Consistent customer centricity in the financial advice domain
The goal of the project with BSI Software was to attain a seamlessly digital, uniform, and needs-oriented financial advice framework for the bank’s private clients. The focus was on attaining a straightforward tool that would guide the bank’s financial advisers through their process, reduce the administrative burden, and create more space for consultations with customers. The plan was to integrate existing solutions and seamlessly complement the system landscape.
Ideally, this would culminate in a centralized banking advice navigator that guides advisers through the advisory process in a structured and personalized manner, updates customer data, and systematically identifies cross-selling and upselling opportunities.
From project start to rollout in as little as six months
Migros Bank developed the concept for the banking advice navigator in-house and defined it to fit the bank’s specific needs. This ensured that the bank could specifically configure the solution in the existing BSI CX module and use it there effectively. The technological foundation was already in place: Migros Bank was already using the BSI Customer Suite, which included access to its customer data and an integrated connection to the core banking system.
Organizationally, the bank counted on a lean, interdisciplinary project team consisting of Migros Bank and BSI Software staff. Bank advisers from a pilot branch were brought in early on to ensure the solution’s real-world usability. A pilot operation lasting several weeks focused on preparing the rollout in Migros Bank’s various language regions.
“The time-to-market of our new BSI Software solution was impressively short. The new financial advice process has increased our customers’ satisfaction significantly and generates considerably more cross-selling and upselling leads and business.”
Lower cost, more sales, and increased customer loyalty
The banking advice navigator helped Migros Bank make significant progress in as little as six months: In addition to reducing its administrative burden by at least 30 percent, the bank’s cross-selling and upselling opportunities increased extraordinarily, as did the number of leads gained from customer consultations.
The new standardized as well as flexible solution led to a significantly more consistent quality of financial advice and a uniformly positive reception by the bank’s customers. Regional differences were significantly reduced, while, in particular, the consultation start, solution quality, and consultation flow improved noticeably.
“Thanks to the BSI Customer Suite’s high degree of configurability, we were able to implement essential features directly in-house. The rollout was smooth and timely – a true project success story."
Banking
Banking solutions
We understand the processes and regulatory requirements of the banking industry in great detail. It is not without reason that we are the Number One for banks in Switzerland.