Kg Muthukumar, Director CRM & Analytics Solutions with Schwab

Elizabeth Rendon

The Charles Schwab Corporation provides securities brokerage and financial services to individual investors and the independent investment advisors who work with them. As one of the nation’s largest financial services firms, Schwab serves more than 6.7 million client brokerage accounts, 541,000 corporate retirement plan participants, 146,000 banking accounts – all representing around $1.2 trillion in client assets. The Company provides financial services to individuals and institutional clients through three segments: Schwab Investor Services, Schwab Institutional and U.S. Trust. The Schwab Investor Services segment includes the Company's retail brokerage and banking operations, as well as the division that serves company 401(k) plan sponsors and third-party administrators and supports company stock option plans. The Schwab Institutional segment provides custodial, trading and support services to independent investment advisors (IAs). The U.S. Trust segment provides investment, wealth management, custody, fiduciary, and private banking services to individual and institutional clients.

Charles Schwab chose Oracle BI Sales Analytics to address the following business pains:

• Missed revenue due to lack of actionable intelligence
• Poor visibility into integrated sales performance
• Too much time spent gathering and formatting sales data

Schwab selected Oracle BI Sales Analytics to deliver better, insight driven client analysis to its sales organization. As an example of a rapid deployment, the solution was deployed to 200 users in 10 weeks. Today, Schwab has enabled 1,700+ financial consultants with a 360 degree view of their customer base. As result of this project, Schwab has noted that 5 - 9% of sales alerts result in new business development opportunities. In addition, the company has saved over 2,400 hours of unproductive work per week.