OpenSpan Helps M&I Bank Improve the User Experience and Customer SatisfactionNovember 02, 2010
by Susan J. Campbell
Growth for a company in today’s challenging markets is always a positive thing. The problems arise when the company cannot sustain the growth with current platforms and processes.
M&I Bank was facing such a problem when it grew to become a super-regional bank. The key activities that were involved in the bank’s deposit account opening and customer service evolved into a multi-step, often manual and inefficient process that hurt the customer experience. At the same time, third party software solutions ensured there was no way to modify existing technology platforms to improve the situation.
M&I Bank needed to overcome complex processes and inflexible systems and to do so, established several key goals to enhance the customer experience. As part of its enterprise-wide business process improvement initiative, M&I Bank set out to continuously improve customer service while increasing efficiency and productivity; enhance the employee experience by empowering staff to directly service the customer relationships they managed; reduce paperwork to reduce costs and protect the environment; streamline user processes that once required multiple touch points.
To accomplish these goals, M&I needed to enable a one-and-one approach through its branch and contact center banks to serve customers. The bank had to improve the ease of use and ensure the appropriate levels of access were in place to satisfy bank policy requirements and preserve data quality and accuracy. Greater control over existing applications was also needed to allow for quick adaptation to change.
To develop a solution that would enable the streamlining of user processes, enhance the company’s on-boarding and servicing platform and deploy the new processes to 2,400 desktops in just 10 weeks, M&I partnered with OpenSpan (News - Alert). The bank wanted to work with OpenSpan to ensure the appropriate system access; improve usability; and integrate, automate and extend existing applications.
Once the OpenSpan solution was deployed, M&I realized immediate benefits, including improved user productivity; significant annual savings; and a reduced cycle time that allowed M&I to process customer requests more quickly. OpenSpan enabled M&I to integrate and automate existing applications to accelerate customer on-boarding; improve process control and user compliance to ensure compliance across all users and transactions; streamline screen flows and enable field-level prompts to improve usability, quality and accuracy; reduce opportunities for error to identify opportunities for improvement in customer satisfaction; and eliminate inefficient steps to improve the experience for employees.
The OpenSpan solution also helped the bank to deliver an average reduction of three minutes per activity for several banking transactions across 400 locations. The bank overall was able to increase user productivity, ensure compliance across the board and improve accuracy of all users to deliver the best experience for all involved.