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Customer Data Integration &
Master Data Management
Summit London 2006
13-14 July, London, UK
Produced by :
In Association with
:
Providing Reliable Customer
Data within a Large Financial
Services Group
Lynn Colledge
background
challenge
practical difficulties
micro/macro solution
impact… after the rain
had gone
Sanlam – leading financial services group in South Africa …
Established in 1918, demutualised in 1998
& listed on JSE
Four business clusters
… life insurance, short-term insurance, investments
& independent financial services
R353 billion assets under management & administration
9500 office staff … 1400 advisers
“In the next five years there are going to be two types of
businesses, those that use the computer as a marketing
tool and those that face bankruptcy”
-
Harvard Business Review
Advisers technology-enabled… but paradigm shift
required
Data not readily available… consolidated data
repository required providing single view of customer
CRM strategy & enabler required… to support
“client centric” business strategy
Leverage off cross-selling opportunities… also focus
on up-selling
Group-wide goal to achieve …
Creation of a consistent customer information base…
currently stored in several disparate systems across
the group… and covering multiple product ranges
Delivery of consistent information… to the right people
in a medium that is appropriate to them
Maintenance of an accurate base of customer
information
Accommodate governance issues/requirements
not an easy ride
… and group politics
& protected interests
to contend with!
“I own my customer data &
you can’t have it”
Not a bed of roses…
issues that were addressed…
unreliable enterprise information due to overlapping &
inconsistent silos of data
inaccessible data stored in several different systems…
business specific applications, spreadsheets, legacy
systems & the “human head”
inability to produce & maintain a single, believable view of a
customer
no mechanism to co-ordinate value-adding information
across the group
on the adviser front… “left hand does not know what right
hand is doing”
disparate agency systems across the group
… where to from here?
Group-wide…
“A customer data warehouse is paramount to the ability
to capture information, integrate it, and generate this
single view of the customer.”
- Adam Klaber, Price Waterhouse Coopers
Data consolidation engine… MRM technology
MICRO solution… initial focus Employee Benefits &
Worksite Marketing (“chunking” principle)
Five different sales channels
External commercial database
Legislation… Financial Advisory & Intermediary
Services Act (FAIS)
the bigger picture
… MACRO group-wide solution
Institutional Client Index
Leverage off existing relationships…
“foot in the door”
Cross-selling & up-selling enabler…
packaged approach
Retention… “to be forewarned, is to be forearmed”
the data integration engine
… cornerstones
Standardization
Consolidation… match/merge
Reliability… trust & decay
Security
Standardization
… massages data to ensure it is clean &
appropriately standardized
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Consolidation
… match/merge functionality
Duplicate data from the various data sources
is eliminated
Overlapping data is combined
Cross-reference tables… key to update processes
Reliability
… trust & decay
Trust factors are applied at cell level… optional setting
Most accurate sources are identified… e.g. financial
data, adviser input (“Real-Time”), etc.
Decay factors ensure our data remains valid &
trustworthy
Security
… governance driven
Hierarchy-based… “who’s who in the zoo”
Access determined by user groups & roles
(JV’s & Partnerships)
Legislative requirements…ECT & COMSEC Acts
(Electronic Communications & Transmission Act)
Administration module
… Data Steward (“the driver”)
Data management… audit function (accuracy)
Process management… access control, load process,
training responsibility, etc.
Data Mining
CRM
WIS Application
Analysis
Common Application Interface
Security Services
Standardization
Reliability Services (Trust / Decay)
Consolidation
(Match/Merge)
Administration
Repository
API
Transportation Layer
Customer
Databases
Agency
Databases
Legacy
Systems
External
Database
VIP Lists
Other
Databases
Financial
Reporting
I can see clearly now
… the rain has gone
(Creedence Clearwater
Revival…..Noooo!
- Johnny Nash)
the value-add $$$$$
… how to quantify
Promotes co-operation between all business units…
resulting in a more professional sales approach
Generates goodwill in the customer space…
equates to more sales = higher revenue stream
Holistic view of the customer…
supports a strong retention strategy
Improved data quality…
translates into reduced operational costs
Data availability…
complements the sales process, contributing to a
reduced sales cycle = reduced sales costs
Thank You
Lynn Colledge