Collecting and transforming information from diverse systems into a single view has created new efficiencies and higher customer satisfaction for $5 billion Citizens Business Bank.
The Ontario, Calif.-based financial institution is combining the integrated architecture of its Premier suite of banking software from Information Technology, Inc. (ITI) with data from its other critical systems by deploying a comprehensive information management and data warehouse system from Fiserv Customer Centered Solutions (Fiserv CCS). Both ITI and Fiserv CCS are units of Fiserv, Inc. (Nasdaq:FISV).
"Each of the products and services our customers use contains a representation of their relationship with our bank," said Citizens Business Bank Senior Vice President and CIO Elsa Zavala. "However, with our use of multiple systems throughout the bank, these representations were disparate. Now we're able to create a single view of that information and convert it into a valuable source for enhancing current business strategies and income opportunities. In essence, we create a "customer universe" within Citizens Business Bank."
By seamlessly integrating the InformEnt data warehouse from Fiserv CCS, financial institutions are able to access a consolidated source of current, accurate and consistent information on customers, products, transactions, sales, financial performance, profitability and marketplace activity. An organization can shift focus from collecting and validating information to absorbing, collaborating, analyzing and applying that information to generate profit.
"The database design of this solution enables us to do so many things, including customer trending analysis, tracking total customer penetration of products and services and standardizing customer data," explained Zavala. "It also creates one access point for marketing, cross-selling and extracting customer profitability information."
Jamie Deterding, ITI senior vice president and general manager of the company's Decision Metrics executive intelligence operating unit, said the ability to provide financial institutions with a 360-degree view of customer relationships and their profitability was key to ITI's decision to offer this solution to clients. "Plus, it offers customizable analytics in the areas of financial reporting, risk and channel management. It's a very comprehensive solution," Deterding said.
"By working with ITI, we're able to provide financial institutions with InformEnt, the industry's leading enterprise-wide data warehouse, to drive business intelligence and analytics," said Stephen Yuran, vice president of product and channel strategy with Fiserv CCS. "InformEnt enables ITI clients to obtain consolidated customer and household views, leverage unlimited historical data and aggregate information from across the enterprise to power their analytics and business intelligence."