Business Intelligence Best Practices - BI-BestPractices.com

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2007 Best Practices Award Winner: UMB Bank
During a growth phase, UMB aligned their tools and technologies to fit their business model, which enabled UMB associates to become customer-centric.

Category: Data Governance
Solution Sponsor: Harte Hanks Trillium Software

UMB Financial Corporation is a financial holding company that offers complete banking and related financial services to both individual and business customers. Its banking subsidiaries own and operate 139 banking centers throughout Missouri, Kansas, Illinois, Colorado, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include an investment services group based in Milwaukee, Wis., a trust management company in South Dakota, and single-purpose companies that deal with brokerage services, consulting services and insurance.

Business Impact

Years ago, UMB Bank associated its customers with certain product sets (e.g., asset management services, commercial loans) and managed its technology in the same way; however, many customers crossed over and spanned both lines of business. UMB had excellent individual lines of business systems but immature customer enterprise information management systems.

During a growth phase, UMB aligned their tools and technologies to fit their business model, which enabled UMB associates to become customer-centric. The transition required breaking down some of the organizational silos that functionally segregated customer data. Also, UMB needed a mechanism by which all information could be aggregated.

Three key aims drove this initiative: 1) to increase front-line efficiencies by consolidating customer data, thus reducing research time necessary to quantify the customer relationship; 2) to improve cross-sale opportunities by consolidating current product offerings and identifying complimentary products; and 3) to empower associates to fulfill UMB’s mission of knowing the customers. In order to achieve these objectives, UMB would need an enterprise CRM solution with a focus on data quality best practices.

Maturity 

While the UMB Bank team engineered the business process transformation, a transition manager was appointed from the business side; he first presented the new idea and, secondarily, introduced the new technology that would enable it. UMB evaluated available technologies that would help aggregate existing host systems to create a foundation for the overall CRM effort. The finished design offered flexibility and logical building blocks for the future. The first phase was launched in May 2006.

Relevance 

The project yielded CRM success, some of which UMB links directly to Trillium Software and Oracle UCM. UMB’s information aggregation model is highly streamlined and has gained accolades from peer group customers and fellow commercial entities.

Innovation

Elements of UMB’s program are contemporary and novel, such as the concept of making Web service calls directly to UMB’s mainframe environment. UMB also uses a sophisticated series of data quality and information matching routines to ensure the highest possible level of information consistency.