Magazine article CRM Magazine

Bank Emerges from the Ashes with Salesforce CRM: Huntington Bank Returned to Profitability Quickly by Re-Engineering Its Customer Service Processes

Magazine article CRM Magazine

Bank Emerges from the Ashes with Salesforce CRM: Huntington Bank Returned to Profitability Quickly by Re-Engineering Its Customer Service Processes

Article excerpt

[ILLUSTRATION OMITTED]

Huntington National Bank, a regional financial services provider with $52 billion in assets, serves 1.3 million consumers and 150,000 businesses in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia via a network of 600 branch offices and 1,400 ATMs. It, like many banks, suffered huge losses in 2008 and 2009 when the U.S. economy collapsed. But, with a clear strategy that emphasized customer relationships over customer acquisitions, Huntington engineered a quicker turnaround than most of its peers.

The company turned a profit of $40 million in the first quarter of 2010, after posting losses of $370 million in the previous quarter and $2.4 billion in the previous year. "We really focused on how we build and maintain the relationships with customers we already had," says Zahid Afzal, chief information officer at Huntington, which is based in Columbus, Ohio.

Afzal credits the quick turnaround to the implementation of the Sales and Service Clouds from Salesforce.com. Because of the technology, "we were one of the first banks to get out of the red," he proudly says.

Huntington selected Salesforce.com in January 2010 and rolled it out to a limited number of users in the commercial banking team in May of that year. The bank then extended the Salesforce.com solution to more than 8,000 users in business banking, retail banking, and wealth management during the 12 months that followed. The solution was fully installed across all business units and locations by June 2011.

The goal behind the Salesforce.com implementation was to consolidate customer data and build a unified view across all locations and business units. Huntington replaced its manual sales process, which relied on Microsoft Word documents and Excel spreadsheets, with one that is automated in Salesforce.com. The hosted solution made it easy to transfer customers to employees from another business unit for cross-selling and upselling opportunities, enabled employees to better manage those selling opportunities, and created enhanced dashboards that unify information from multiple sources.

In the first 12 months of deploying Salesforce.com, Huntington users across 18 business segments generated nearly 500,000 new upsell and cross-sell referrals, yielding a half-million new revenue opportunities in one year. It also increased lead conversions by more than 40 percent. As a result, 76 percent of the households it serves have four or more products with Huntington Bank.

"The trick was tearing down the walls within our organization to enable true company-wide collaboration," Afzal says. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.