CRM in HDFC Bank

Learn how CRMNEXT enables banks like HDFC to transform their service and customer experience of financial products with intelligent and intuitive digital interfaces for all its customers and workforce.

Read More: https://www.crmnext.com/customers/hdfc_bank

1. HIGHLIGHTS
Riding the Digital Wave to
Capture Hearts and Wallets
HDFC BANK - Case Study
Customers today demand a seamless digital banking experience irrespective of touch points. Fast moving
disruptions in Banking are creating new economies and transforming experiences on a never before scale.
And these disruptions are coming in the form of technology waves that destroy traditional barriers that hinder
business and customer growth in value. HDFC Bank, one of the largest banks in Asia, has the distinction of being
the first full spectrum digital bank. The bank chose BUSINESSNEXT to ride and profit from the waves of digital
disruption with its CRMNEXT and CUSTOMERNEXT platforms. It found a versatile partner that ensured that any
digital initiatives translate into an experience wherein the customer’s needs are instantly met.
ASPIRATIONS
HDFC Bank wanted to transform delivery, servicing and
customer experience of financial products with intelligent
and intuitive digital interfaces for all its customers and
workforce. Despite the clarity in strategy, execution was
a challenge. Such a digital strategy was first of its kind
by any bank and faced tremendous risk due to inherent
complexity and technological challenges with complex
integrations. They also aspired to have an intelligent,
insightful and actionable 360o customer view with data
from multiple systems. Fragmented selling processes led
to fragmented ownership, low visibility and challenges in
monitoring of turn-around times. This led to low visibility
of information leading to inefficiencies in cross-sell and
up-sell. A bottleneck that came in the way of engaging
a highly demanding and sensitive customer segment.
HDFC Bank wanted a single strategy execution platform,
BUSINESSNEXT, to bring exponential agility and efficiency
in its operations.
1,00,000+ Users
75% Workforce Penetration
4,500+ Branches
80 Million+ Customers
10,000+ Daily Personalized Reports
1.5 TB+ Live Database Size
18 Applications Integrated
16 Applications Decommissioned

2. CUSTOMERS
PROCESS
EMPLOYEES
TECHNOLOGY
Experience
Faster
Single Destination Convenience
Private Cloud
• Easy onboarding
• Instant gratification
• Reliable service
• Personalized relationships
•
Consistency across channels
• 200% faster sales Turn Around Time
• Best in class efficiency
• Eliminate rework
• Proactive SLA management
• Core system synchronized
• Reduce application hopping
• Automation to reduce workload
• Assistance in target achievement
• Information on finger tips
• Actionable intelligence at every point
of interaction
• Ultra scalable, elastic
• Use commodity hardware
• 100% auto upgradable
• Always on, always current
• Reliable Integrations
PROJECT OBJECTIVE
We believe in CRMNEXT. With over 1,00,000+ users & 4,500+ branches
& multiple integration points, it was hard for any system to match our
expectations. We have enjoyed 99.9% uptime availability & seamless
scalability. It just seems perfect.
Rajesh Wagh - Vice President (IT) - HDFC BANK

3. Achieving a ‘One Bank’ Vision
HDFC Bank, with the help of BUSINESSNEXT, has launched the ‘Go Digital’ initiative wherein the bank engages
the customer from multi channels via branch, netbanking , mobile banking, web, out bound, in bound call centers etc.
Integrated and Insightful Customer 360
0
CRMNEXT created a unified, insightful customer view
for HDFC Bank users by collating and massaging data
from different systems. This empowered teams to view
a real time display of product holdings and transaction
using webmashups. Relationship managers had real time
access to product holdings, finances, facilities and account
intelligence. Ready connectors available for integration
with third-party sources delivered ready-to-use, verified
profile information. CRMNEXT built immensely rich
customer profiles with interaction, engagement analysis
and real time customer intelligence for superior product
targeting, service that created enduring profitable
relationships.
Deliver Personalized Offerings with Faster
Approvals
CRMNEXT enabled HDFC Bank to use existing customer
account intelligence, automated decision processes for
instant approvals and cross sell customized offerings.
CRMNEXT displayed personalized offers with respect
to customer profile through algorithmic techniques like
frequency scoring, whitespace analysis with Trinity
Cross Sell Modeler and utilized guided call scripts to
increase the probability of conversions. Real time alerts
from various systems integrated to provide event based
triggering such as large deposits, channel usage, etc laid
the foundation for building a meaningful relationship.
Actionable Reporting and Analytics
CRMNEXT delivered drill down and multi-axis reports for
HDFC Bank users depending on roles and geographies.
Sonic report distribution sends reports in all formats (html,
text, pdf) with data and graphs to a users email inbox.
CRMNEXT currently sent over 10,000 personalized
reports daily to users’ inbox.
Net banking
ERGO
PayZap
Phone banking
FC CDI
CIBIL
Phone on
E2FS
APS
NSDL
SME
CRMNEXT
LOS
CPSM
My calls
Back base
CIF
Telesmart
FTS
Customernext Mgmt.
Car dekho
Paisa Bazaar
Customer power
Businessnext BRE Rules

4. Instant Digital Account Opening
With CUSTOMERNEXT, HDFC Bank enables customers
to open instant digital account anytime, anywhere with
AI driven, easy to use integrated journeys. The bank
leverages the power of 90+ out of box fintech connectors,
including National IDs, AML, Core Banking etc. to
deliver faster and seamless onboarding with complete
regulatory compliance and 100% digital documentation.
Enabling Intelligent Digital Journeys
CUSTOMERNEXT empowered HDFC Bank to engage
customers through intelligent digital buying and servicing
journeys across unassisted, assisted and partners that
are adaptive, integrated and frictionless (for details
refer the following diagram). Users were able to quickly
process all product sales on any device through web.
Real-time credit score checks and dynamic personalized
offers enabled customers with real-time visibility on
eligibility, auto filled applications, upload documents and
application status. The journeys were available to both
existing customers and new prospects.
Regain Win Back Modeler
HDFC Bank is now able to create and execute smart
follow up processes to minimize dropouts and maximize
conversion rates. By creating compelling experiences and
personalized offers that stand apart from competition,
prospects are intuitively encouraged to complete their
purchase journeys with insights gained from behavioral
data, organically increasing sales, customer loyalty and
brand advocacy.
Seamless Customer Onboarding
HDFC Bank was able to implement end to end on
boarding of customers using fully integrated processes on
a single system with the help of Autonoma Integrations
TM
.
The platform ensured process compliance with FATCA
and eKYC needs. Automated integrations with DWH,
back office and core banking systems eliminated the
need for multi window jumping and empowered service
teams with quick action buttons on a single screen.
Integrated Service Desk
CRMNEXT empowered HDFC Bank users to assist
customers in real time by auto-populating contact
information, previewing customer profile, auto-assigning
calls automatically to free agents, for all incoming calls.
They also implemented predictive dialing and interactive
voice response (IVR). Seamless integrations eliminated
hopping between multiple systems and enabled call
closures on a single platform at the first contact itself.
Users were also able to consolidate complaints across
products and channels. Pro-active escalations reduced
turn-around-time and improved in SLA compliance.
Value Driven Customer Segmentation and
Account Planning
Relationship Managers at HDFC Bank could now track
Key Account Values to monitor their own performance
and prioritize activities. They leveraged the power of
CRMNEXT to track budgets & annual plans with current
achievements for existing customers while recording
journeys from prospect-to opportunity-to-customer for
new customers. Contact policies are configured and their
implementation is monitored. Relationship managers
are allocated portfolio of customers and given targets
to migrate customers to a higher level with pre-defined
measures for band migrations.

5. Omnichannel Application Capture
HDFC bank is now able to capture leads from website,
mobile apps, SMS, phone calls, missed calls, Branch,
ATMs, KIOSK, Business Correspondents (BC), Business
Facilitator(BF), Direct Selling Agent (DSA), online lead
aggregators etc. Users can manage pipelines and track
applications on a single view. They can effortlessly upload
documents, check eligibility from automated predefined
business rules and display pre-approved offers.
Faster Fulfillment with Robotic Digital
Journeys
HDFC bank now delivers near instant fulfillment
capabilities with straight through processing for all
digital lending journeys with zero manual interventions,
eliminating errors and reworks. Users can seamlessly
integrate with multiple systems to eliminate the need for
multi window jumping.
Automated Lending Decisions and Approvals
HDFC bank users can set algorithmic business rules to
automatically approve conforming applications. They
can manage and edit applications in real time and
route applications automatically to relevant authority
on predefined parameters like deviations, loan limits etc.
Intelligent analytics, calculation of customizable financial
ratios and activity tracking aid real time decision making.
HDFC bank lending programs are now fully regulatory
compliant with improved process transparency and
approval matrix.
Digital Lending Platform
Two wheeler loan
Business loan
Auto loan -
Used car
Auto loan -
New car
Personal loan
Unassisted
19 Products
Assisted
13 Products
Partner
9 Products
Gold loan
Home loan
Saving
account
Corporate salary
account
Current account
individual
Current account
proprietorship
Unassisted
19 Products
Assisted
13 Products
Partner
9 Products
Smart account
Working capitol
Loan against
mutual fund
Mortgage
Cards
credit card
Cards -
corporate cards
Cards - cross sell
Customer
instructions
ISA
Digital
onboarding

6. RESULTS
208% Increase in Lead Conversion
40% Increase in Cross Selling
90% Reduction in Sales TAT
52% Improvement in Service Quality
42% Increase in Net Promoters Score
86% Improvement in Customer Loyalty Index
370% Increase in Leads Generated
108% Increase in Response Rate
23% Increase in Campaign Frequency
75% Bank workforce using CRMNEXT
10,000+ No. of daily personalized reports
Sales Automation Customer Service & Support
Campaign Management Staff Impact
Reach us at: sales @crmnext.com
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