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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. impact… after the rain had gone. background. challenge. agenda.

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  1. Customer Data Integration & Master Data Management Summit London 2006 13-14 July, London, UK Produced by : In Association with :

  2. Providing Reliable Customer Data within a Large Financial Services GroupLynn Colledge

  3. impact… after the rain had gone background challenge agenda practical difficulties micro/macro solution

  4. Four business clusters … life insurance, short-term insurance, investments & independent financial services R353 billion assets under management & administration 9500 office staff … 1400 advisers Established in 1918, demutualised in 1998 & listed on JSE Sanlam – leading financial services group in South Africa … background

  5. Data not readily available… consolidated data repository required providing single view of customer Advisers technology-enabled… but paradigm shift required CRM strategy & enabler required… to support “client centric” business strategy Leverage off cross-selling opportunities… also focus on up-selling “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 challenge

  6. 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 Group-wide goal to achieve … challenge

  7. not an easy ride … and group politics & protected interests to contend with! “I own my customer data & you can’t have it” difficulties

  8. issuesthat were addressed… Not a bed of roses… difficulties … where to from here?

  9. Group-wide… solution

  10. MICRO solution… initial focus Employee Benefits & Worksite Marketing (“chunking” principle) Data consolidation engine… MRM technology Five different sales channels Legislation… Financial Advisory & Intermediary Services Act (FAIS) External commercial database “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 solution

  11. 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 bigger picture … MACRO group-wide solution solution

  12. Standardization Consolidation… match/merge Reliability… trust & decay Security the data integration engine … cornerstones solution

  13. Standardization … massages data to ensure it is clean & appropriately standardized solution

  14. Duplicate data from the various data sources is eliminated Cross-reference tables… key to update processes 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 Overlapping data is combined Consolidation … match/merge functionality solution Reliability … trust & decay

  15. 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) Process management… access control, load process, training responsibility, etc. Data management… audit function (accuracy) Security … governance driven solution Administration module … Data Steward (“the driver”)

  16. Analysis CRM Data Mining WIS Application Common Application Interface Security Services Standardization Reliability Services (Trust / Decay) Consolidation (Match/Merge) Administration Repository API Transportation Layer Financial Reporting Customer Databases Legacy Systems VIP Lists Other Databases External Database Agency Databases

  17. I can see clearly now … the rain has gone impact (Creedence Clearwater Revival…..Noooo! - Johnny Nash)

  18. 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 the value-add $$$$$ … how to quantify impact

  19. Thank YouLynn Colledge

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