FirstCaribbean Builds Sales Momentum and Ensures Data Privacy in 17 Countries

"We chose Salesforce because it has proven itself in the financial services industry around the world. It was the only solution we found that could support our operations in 17 countries and many currencies—and meet our stringent multinational privacy requirements."


Challenge
  • FirstCaribbean International Bank needed to standardize and automate processes in its retail banking business in 17 countries and a number of currencies
  • Inconsistent selling processes and multiple legacy systems meant the Caribbean-based bank lacked a way to effectively track and manage sales performance
  • To achieve its goal of significantly increasing sales following a merger, the bank sought a hosted CRM solution it could implement quickly
  • Privacy laws vary depending on jurisdiction, so the bank needed a way to share real-time information while maintaining confidentiality

Solution
  • After evaluating Siebel On Demand, FirstCaribbean chose salesforce.com's flexible on-demand CRM solutions to manage its complex, multinational sales processes
  • During a phased implementation, the bank rolled out Salesforce to more than 500 users in 17 countries
  • Multinational, multicurrency capabilities support the bank in doing business in more than a half-dozen local currencies, with a roll-up in U.S. dollars for a consolidated management view
  • Executives use reporting features to track sales stats for individual reps and promote improved results across departments

Results
  • FirstCaribbean easily customized Salesforce to meet the requirements of complex and varied privacy legislation that governs international information sharing
  • With anywhere, anytime access to real-time data on business performance provided by Salesforce, executives can make more informed decisions
  • Consolidation of sales data in a single system has increased sales rep accountability and enables executives to identify the best reps and those that are underperforming
  • Salesforce's integrated sales and marketing capabilities enable the bank to link campaigns to the results they generate
 
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