CRM and Channel Delivery Strategies: Case Study on TCF Bank

June 18, 2004

Abstract

Boston, MA, USA June 18, 2004

CRM & Channel Delivery Strategies: A Case Study on TCF Bank

This case study looks at how one bank used customer knowledge when selecting an Internet banking application.

In a new report "CRM & Channel Delivery Strategies" Celent examines how TCF Bank, subsidiary of TCF Financial, choose an internet banking application. TCF recognized that their customers are becoming increasingly savvy on the Internet and they wanted to find a way to offer premium services.

The report looks at how TCF Bank segmented their customer data according to customer preferences for online features and functionality. After analyzing the segmented data, TCF concluded that they could best serve these segments by offering a tiered online banking service. In order to do this, they needed to upgrade their online banking technology. Thus, to fulfill their marketing strategy they had to implement a newer, more robust online banking application.

TCF's experience illustrates two important conclusions. First, in order for banks to gain full value from their customer relation management technology and processes, they have to apply segmentation and analytics to their delivery strategies. Second, banks must implement front-end applications that optimize these strategies.

According to

Anjalee Davis, banking analyst at Celent and author of the report, "If banks wish to gain full value from their investments in customer relationship management technology and reengineering processes, they need to leverage customer knowledge during any phase of customer interaction. Those that succeed can provide pro-active personal service and implement targeted selling in all of their delivery channels - branches, online banking, call centers, and ATMs."

A

Table of contents is available online.

of Celent Communications' Retail Banking research service can download the report electronically by clicking on the icon to the left.  Non-members should contact info@celent.com for more information.

        

Send mail to info@celent.com with questions or comments about this Web site.

 

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

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Erica Ferguson
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Chris Williams
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Table of Contents

 

  Boston, MA, USA June 18, 2004

CRM & Channel Delivery Strategies:  A Case Study on TCF Bank

Return to report Abstract

 

EXECUTIVE SUMMARY: CREATING THE GREATEST VALUE WITH CRM 3
TCF BANK: EFFICIENT AND CONVENIENT SERVICE 6
MARRYING CUSTOMER KNOWLEDGE AND ONLINE DELIVERY 7
  Segmenting Online Customers 7
  Overcoming Online Application Obstacles 8
PROJECT TIMELINE 9
VENDOR SELECTION 11
IMPLEMENTATION 14
CONCLUSIONS 15
OBJECTIVITY & METHODOLOGY 16
 

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