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Innovative Systems Powers U.K. Bank's
Customer Relationship Management Initiative |
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| Abbey National reduces marketing expenses, improves customer service with Innovative's i/Lytics™ customer data management software |
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| Pittsburgh, PA - February 25, 2002 - Demonstrating the global reach of its data quality solution, Innovative Systems, Inc. has helped Abbey National, a leading bank in the United Kingdom, to successfully deploy a customer relationship management (CRM) initiative. By extending the use of Innovative's i/Lytics software to CRM, Abbey National has created sophisticated customer profiling models, improved customer service and saved nearly $600,000 USD in direct marketing expenses. |
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| Since 1995, Innovative has maintained the data integrity of Abbey National's customer database, supporting the bank's migration to a more customer-focused business model. The most recent phase of this CRM initiative seeks to better manage and coordinate customer data across the bank's various customer touch points, a need largely due to customers' increased use of online banking. Abbey National realized that creating a single view of the customer across the enterprise was the best way to achieve this goal. |
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| After evaluating its existing systems to see how they could enable a unified customer view, Abbey National determined that enhancing its use of Innovative's customer data management software was the best approach. Having utilized Innovative's software for data cleansing over the last six years, Abbey National had the confidence and experience to extend its use to more direct CRM activities. |
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| "We estimate that working with Innovative to improve our data accuracy has saved almost $600,000 in direct marketing spending," said Caren Black, head of information quality at Abbey National. "Since expanding our use of Innovative's customer data management software to higher level CRM, our direct marketing cycle times have decreased. There has been a drop in customer complaints and an increase in customer advocacy. Furthermore, we have experienced improved strike rates and better product cross-selling." |
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| To support a variety of customer channels, Innovative has worked with Abbey National to ensure that one database can be used to manage multiple customer views that are consistent across the board. |
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| Mike Healy, executive vice president of European operations at Innovative, explains how Innovative's solution has helped Abbey National to improve its data integrity, "We built into the software customized rules that determine whether or not to de-duplicate customer records. This enabled Abbey National to create different views of one customer depending on how different departments needed to use the information. In this way, we have helped the marketing department to save direct mail costs by not mailing the same customer twice." |
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| According to Black, "When we were using Innovative's software for data cleansing, we were only touching on the power of the product. By looking afresh at the solution and enhancing its existing capabilities, we have achieved what we set out to do: Save ourselves considerable time and money, and continue to work with a product and a company that we trust." |
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| Abbey National is continually looking to improve its data integrity in order to deliver better customer service. The bank also is working with Innovative to develop even more sophisticated customer groupings. |
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| Innovative's i/Lytics is a fully integrated, end-to-end customer data management solution. It provides capabilities for data cleansing, data repair, quality profiling and linking. i/Lytics builds important customer relationships by linking individual customers, households and corporate customers. These powerful customer data management functions can be executed in both real-time and batch processing modes. |
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| About Innovative Systems, Inc. |
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| Innovative Systems is a world leader in delivering enterprise customer information solutions to organizations whose success depends on a complete and accurate understanding of their customers. ISI's solutions include: i/Lytics® Enterprise Data Quality Suite; i/Lytics GLOBAL™ Suite for CASS™ certification, geocoding, and longitude/latitude coordinates; Synchronos™, ISI’s proven CDI and enterprise customer management solution; and FinScan™ for compliance list, sanctions and PEP screening compliance. |
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| Since 1968, companies worldwide have relied on ISI’s data quality software, systems integration, database solutions and customer data quality audits. The company has set the standard for data quality management in thousands of customer-centric projects utilizing the firm’s services for creation and maintenance of customer data. ISI’s work has included clients in more than 30 countries. ISI maintains headquarters in Pittsburgh, Pennsylvania, with European operations based in London. Representative offices are in Washington, D.C., Phoenix, AZ, and Mexico City. The Innovative Web site is located at www.innovativesystems.com.
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| Company Press Contact: |
Karin O'Sullivan
Innovative Systems, Inc.
Tel: +1 (412) 937 7678
kosullivan@innovativesystems.com |
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Trademark Notice
i/Lytics, i/Lytics Data Profiler, i/Lytics SECURE, eWatchLine,
Fin-Scan and Synchronos are trademarks of Innovative Systems, Inc. All other products or company names are used for identification purposes only, and may be trademarks of their respective owners. |
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