Citibank Brazil Banks on Digital Business and TIBCO for Increased Competitiveness
Better customer experience, efficiency, and global strategy
Banking in Brazil is competitive. “We’re competing against other large banks that are in more cities than we are,” says Roberto Mercadante, senior vice president of Citibank in Brazil. “They have branches, and we are going digital. We’re looking to significantly improve customer satisfaction, and for that, we need efficiency gains.
“When we started looking at different solutions, we found inefficient processes, a lot of manual work, and paper. And it’s very difficult to get end-to-end metrics for those processes. There are many operational risks with a situation like that: fraud, losing control of processes, and not being able to keep up with the competition.”
To gain a competitive edge, in 2013, Citibank set about implementing a modern foundation to support business processes. In less than 18 months, it implemented TIBCO ActiveMatrix® BPM and TIBCO Spotfire® analytics. “TIBCO’s Professional Services were essential,” says Mercadante. “They helped us with business challenges as well as the technology design. They are really, really good. We trust them—and that’s essential.”
Since the 2013 project, Citibank has added TIBCO’s integration platform. “TIBCO is now helping us on all these strategic fronts to improve customer
experience as a whole,” says Mercadante. “We need to integrate process flows and legacy and ERP systems. We need to do business process modeling, simulate the whole lifecycle, and measure results. We have a complete toolbox in our hands now that will deliver the right experience to customers.”
Digitalization for a Better Customer Experience
Digitalization is part of a global strategy at Citibank. “You have no idea how important it is for Citibank worldwide,” says Mercadante. “It is essential from a
customer standpoint. Customer behavior is changing. Nobody likes to go to a branch, they want to receive an SMS message on their mobile. So, digitalization will provide a better customer experience.
“Second, from the bank’s standpoint, digitalization will also provide more efficiency and cost reduction in our internal processes. You would be amazed at how much it costs to post a letter to a customer; it’s a lot of money. Sending SMS messages about account balances or credit card transactions reduces a lot of cost.”
Improved Cycle Time, Productivity, and Client Services
Citibank’s 2013 “Banco PJ” BPM project identified the most critical processes affecting customer retention and experience. It was not long before the bank was able to reduce account opening cycle time by over 70%. That was the first step in streamlining over 300 activities and operations across sales, portfolio, operations, legal, and fraud-prevention teams. Now, no matter their geographic location, the bank’s 6,000 employees can share information and process progress. Sales force productivity increased 50%, and managers have increased the time they spend on client-facing activities by 20%.
“We even received messages from our key customers, congratulating the bank, ‘Compared to other banks you guys are ahead. It’s just so fast to open a single account,’” says Mercadante. “We regard this as extreme value. That statement coming from the customer basically pays off the investment we made in TIBCO.”
Improvements Through Real-time Metrics
As Mercadante says, “You cannot improve what you cannot measure. Metrics are an essential part of the solution. That’s Spotfire. It’s wonderful.” Citibank created real-time Spotfire dashboards for every area of its business. Analytics is now used as the common language between IT and the business. It’s facilitated faster time to insight and action with less involvement from IT.
Integration as a Global Strategy
Integration capabilities are an essential part of the architecture, providing support for all online as well as batch services. “It’s just amazing,” says Mercadante. “The global head of operations and technology at Citibank will tell you that the blueprint for the technology architecture at Citibank is strategic. It’s a TIBCO design.”
“We know what we are capable of with TIBCO solutions,” says Mercadante. “We have a lot of business process reengineering ahead of us, a lot of work to actually achieve the customer experience excellence that we want. We are excited about the results we achieved with BPM automation. It’s an inspiration for us as we work through all the customer experience initiatives. And it’s what we want to do globally: use the Banco PJ BPM initiative as a global solution. We’re working hard to get there.”