Crèdit Andorrà has accelerated its digital transformation with Salesforce, staying one step ahead of customer requirements.”

Josep Escoriza, IT & Organization & Operations Director
 

Being named Bank of the Year in Andorra once is no small feat. Receiving this recognition nine times in the last 15 years is an even greater accomplishment, but Crèdit Andorrà has achieved just that. In addition, Crèdit Andorrà received the (EFMA) innovation award in 2017 for Merkaat, its new digital advisory service.

What is Crèdit Andorrà’s secret to success? According to Josep Escoriza, IT & Organization & Operations Director, the key is its focus on anticipating customer needs. “What makes our service different isn’t just what we do, but how we do it.”

Following the bank’s Salesforce implementation, Escoriza said, "Our highly qualified professionals offer expert advice through digital channels, while seamlessly adapting to the requirements of the next generation of customers."

“The calling card of the Crèdit Andorrà Financial Group is our personalized services and boutique approach through different brands,” said Escoriza.

Crèdit Andorrà offers universal banking in Andorra and private banking on a global scale. Its services operate under four banking licenses — Crèdit Andorrà, Banco Alcalá, Banque de Patrimoines Privés, and Banco Crèdit Andorrà (Panama) — which are complemented by asset management and asset advice, as well as the international activities of Crèdit Andorrà’s Insurance Group. The group also gives back through a wide range of activities in the fields of education, society and culture, all funded by the Crèdit Andorrà Foundation.

“Having so many lines of business made task management extremely difficult, which risked impacting the core principle of the company: high quality, personalized customer service,” said Escoriza. He stressed the importance of providing a hybrid digital service that can incorporate the benefits and efficiency of automated services, and provide access to experts to help customers make the smartest investments.

Crèdit Andorrà’s IT department had one clear goal: to simplify task management.

Escoriza said, “The goal was to have one integrated solution across all areas of the business.” This would boost efficiency and effectiveness internally for employees, and externally to offer customers better service. In this way, “We are improving the service based on rigour, transparency and discretion," said Escoriza.

Their solution also needed to align with Crèdit Andorrà’s strategic IT plan. He noted, “It’s difficult to find one platform on the market that meets all of these requirements.”

 

From day zero when we first started out with Salesforce, we entered into the Lightning era. We used Trailhead as our knowledge base to learn about it.””

Josep Escoriza, IT & Organization & Operations Director

One of the main goals of the strategic IT plan is to integrate mobility and information security. "This was one of the factors that tipped the balance in favor of Salesforce technology, which offers integration as well as support in predicting customer needs, while complying with all regulatory requirements," said Escoriza.

Another factor in favor of Salesforce was its ease of use that increased the speed of employee adoption. As Escoriza explained, "For us, a system that doesn’t need to be managed adds value in itself."

The Financial Services Cloud implementation project — which included an additional security layer offered by Salesforce Shield — was deployed in two different phases. Escoriza said, “We determined the [data] model to be implemented in stage one, and connected our core banking and insurance systems into a unique instance in Salesforce. The second phase was divided into four projects: commercial processes, digital advisory, insurance control panels, and marketing campaign management.”

With the power of the Salesforce Platform, Crèdit Andorrà’s employees have the necessary tools to deepen customer relationships by identifying financial needs and investor profiles.

“As the world evolves, the best move is to know how to adapt and look for opportunities,” said Escoriza. By using advanced technology to stay ahead of customer requirements, Crèdit Andorrà is providing global services with a personal touch.

Escoriza explained that Financial Services Cloud was developed natively in the Salesforce Lightning environment, and its adoption was aided by Trailhead, their online training platform. “From day zero when we first started out with Salesforce, we entered into the Lightning era. We used Trailhead as our knowledge base to learn about it.”

In addition, Escoriza said, “Creating the advisory module and integrating it with our core banking system means managers can use the platform to provide advisory services on the move, which will enrich the investor experience.”

Escoriza said, “Salesforce complements our core banking and insurance services at the front end as well as providing 360-degree visibility of customers.”

Going beyond the agreements set out in the strategic IT plan, Salesforce quickly became a key piece of the financial group’s digital transformation process. “Their solution helps us to be more innovative in our services, channels, and in offering a more tailored customer experience,” said Escoriza. “In part, we have Salesforce to thank for Crèdit Andorrà becoming more digital: both as a bank and as a company.”

After overcoming the most important parts of the project — change management issues among business users and customer management dynamics — Crèdit Andorrà quickly started seeing benefits.

“We reached a successful outcome by linking together two fundamental aspects: involving different departments when we defined goals, and demonstrating the benefits that change would bring to our users’ everyday lives,” said Escoriza. “With Salesforce, we’re already providing better and more efficient service to our customers.”

“Salesforce opens up a new range of possibilities for us, and we discover more every day. But it’s essential that we can implement Salesforce across all of our geographies,” said Escoriza. In this regard, one of the biggest indicators of the implementation’s success is that users are suggesting new ways that the platform can be used to support them in their roles.

“We’re working on rolling out Salesforce to almost all divisions of Crèdit Andorrà, from the compliance department to corporate communications, AML (anti-money laundering), credit, marketing, et cetera,” said Escoriza, who also revealed: “Our plan is for solutions like Marketing Cloud to help us with this and to continue implementing others.”

“Our experience with Salesforce has been great, and we believe it will benefit our business," said Escoriza. In his opinion, Salesforce brings autonomy to the company and supports the bank in its goals to offer diverse investment options and unique opportunities to customers, which means Crèdit Andorrà will continue to be internationally recognised for excellent financial services.

 
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