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Lawrence Micallef, Head of Strategic Planning at Bank of Valletta, has recently addressed the 4th Annual Customer and Client Strategy in Finance Business Summit. The summit, which was organised by EUROMONEY, brings together sales, marketing, and distribution specialists from the financial services industry.
Mr Micallef's presentation dwelt on the techniques which are necessary so as to deliver a successful CRM Strategy. CRM, which stands for Customer Relationship Management, utilises human, technological and infrastructural enablers so as to deliver a more personalised service to customers. The management of Customer Relationships is of key strategic importance for financial institutions. CRM gives added focus on what the customer needs to buy, rather than on what the institution needs to sell. Mr Micallef also explained how BOV's in-house built software, has helped the Bank to assist its customers in finding the best solutions to their financial needs. BOV's Relationship Management Strategy adopts a three-phased approach, namely, a data warehouse, a customer contribution module, and a CRM front-office system.
Last year the Institute of Financial Services (UK) had named BOV's CRM strategy as being the best and most innovative CRM system, beating other short-listed submissions from world renowned banks.
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