A Constituent Relationship Management Framework (CoRM) for a Central Bank

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Summary

Sagence’s expertise in customer relationship management (CRM) assisted a central bank branch developing a framework for managing relationships with its constituents.

Challenge

Our client, a central bank branch with strong influence on the global economy, manages a complex set of relationships within its own siloed organization, sister central banks and agencies, international central banks, regulated commercial banks, various community banks within their district and the general public. These relationships frequently spanned multiple functions within the client; significant efficiencies and effectiveness could be realized by understanding and coordinating interactions within and across all of the constituents.

Solution

Sagence took traditional models and frameworks for commercial customer relationship management (CRM) and successfully broadened them to accommodate the client’s relationships in a new constituent relationship management (CoRM) framework, bespoke enough to satisfy client needs while utilizing and building on existing CRM technologies.

Results

The Bank was provided with an overall constituent management relationship framework which included a high-level CoRM strategic data roadmap, customized CoRM data architectures, tailored CoRM operating models and implementation-ready assessments and recommendations for individual pilots and rollouts of the CoRM system.  They subsequently were able to select an appropriate CRM system to accommodate their advanced CoRM needs.