Maybank gains RM3b in new sales via CRM initiative

by **hlk** Tue 11 Oct 2011, 08:11

SAN DIEGO: Malayan Banking Bhd (Maybank), Malaysia's largest banking group, gained RM3 billion in new sales over two years through its analytical customer relationship management (CRM) initiative.

The CRM supports analysis, customer communications, event-based marketing and traditional marketing campaign and is built around the Teradata CRM solutions by Teradata Corp, the world's largest corporation that focused solely on data warehousing and enterprise analytics.

Maybank head of analytics and customer relationship management, Ahmad Hishamuddin Mohd Salleh, said the data mining and business intelligence software used for the CRM provides a 360-degree view of the company's retail customers so that analysts can identify revenue opportunities, enhance sales channels, mitigate cost risks, leverage on valuable data and optimise contact management.

Ahmad Hishamuddin said the CRM model has significantly improved Maybank's cross-selling, up-selling and alert system, giving the group an annualised return on investment (RoI) of 164 per cent since its implementation in 2007.

He said the CRM solutions has enabled Maybank to have better understanding of its 12 million customers in Malaysia and identify their needs, and thus enabling it to design customised products and services for segmented customers.

"With the CRM solution we are able to implement timely and targeted marketing. We just completed the third and final phase of the CRM initiative. Overall, we expect new sales to exceed RM4 billion from this initiative," he told Business Times at the Teradata PARTNERS User Group Conference & Expo at the San Diego Convention Center.

Ahmad Hishamuddin said marketing campaigns by MayBank are now 10 times more successful, and creating significant bottom-line value.

Maybank head of CRM technology, Mohd Faizul Abdul Manap, said the group's next step is to focus on its business banking customers and small- and medium-sized enterprises.

He said Maybank is also intending to take its CRM initiative regional to have a better understanding of its more than five million overseas customers.