Faysal Bank Ltd. was incorporated in Pakistan in 1994 and is now listed on the Karachi, Lahore, and Islamabad Stock Exchanges. The Bank operates in the corporate, commercial, retail, and Islamic Banking sectors. It has more than 260 branches in over 70 cities in Pakistan and its combined business assets total more than US$3 billion, placing it in the top ten banks in the country. The Pakistan Credit Rating Agency and JCR-VIS Credit Rating Company have determined Faysal Bank’s long-term rating as “AA” and its short-term rating as “A1+” with a ”stable” outlook. The Bank aims to provide par excellence service to its customers by meeting all their financial needs.
Faysal Bank considered several other customer relationship management products in the market, but decided to upgrade to Oracle’s Siebel Customer Relationship Management 8.1 (Siebel CRM) so it could take full advantage of the product’s advanced features.
“We were happy with the flexibility of Siebel CRM 7.8 but knew we weren’t making the most of the product’s extensive functionality,” said Waqas Anis, head of CRM, Faysal Bank Ltd. “During the evaluation, we realized Siebel CRM 8.1 was far more advanced than competing products in terms of stability, reliability, and availability. It was also more cost-effective and feature-rich.”
Faysal Bank runs Oracle E-Business Suite for its payroll, human capital management, and financial processes, as well as Oracle Database. By upgrading to Siebel CRM 8.1 and implementing Siebel Contact Center 8.1, it achieved the added benefit of operating an Oracle one-stop-shop.
“We are very confident using Oracle, due to the company’s excellent reputation and huge footprint in Pakistan,” said Anis.
Faysal Bank began upgrading to Siebel CRM 8.1 in July 2010. During the first phase, the Bank consolidated its customer and call-center data onto a single platform and implemented Siebel Contact Center 8.1. Phase one went live in May 2011.
In December 2011, the Bank upgraded to Siebel Campaign Management 8.1 as phase two of the project, followed by Siebel Credit Origination 8.1 and Siebel Commercial Banking Loan Approval 8.1 in July 2012 as phase three.
Phase four will involve upgrading to Siebel Wealth Management 8.1 and Siebel Financial Services eCustomer 8.1. These will go live in May 2013.
Faysal Bank engaged Oracle Diamond Partner IBM to upgrade its Siebel CRM modules. IBM integrated the CRM modules with the Bank’s core banking and custom financial applications, and it offered extensive advice and guidance on products and processes.
“IBM also provided training, maintenance, change management, and troubleshooting assistance,” said Anis. “We now have a strong relationship with the team and are very happy with the communication and collaboration processes we have developed. We see IBM as a true technology and business partner.”