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Satori orchestrates change; we deliver insight, add clarity and align business objectives to yield results. We go beyond the obvious and search for innovative solutions, working side-by-side with our clients to implement them.

Increasing the efficiency and cost effectiveness of a customer acquisition process

We helped our client improve its customer acquisition process by reducing complexity, lowering costs, and increasing operational efficiency.

The Situation
The merchant credit card division of a large Western Bank, which provided retail and restaurant customers with cash payments in exchange for credit card transactions, needed to reduce costs and increase customer satisfaction by implementing a new process for applying for the service. Additionally, a mainframe computer that supported the client’s operations was to be removed in eight months' time, which called for a new technology support solution. To meet these objectives, merchant services sought to quickly yet comprehensively address and innovate each element of their operation: business processes, organizational structure, technology and people.

The Satori Solution
We facilitated a cross-functional team that analyzed the client’s current practices and developed an integrated model for process improvement. The project team determined that the current application process was unnecessarily complex for most customers. In response, the division established a more flexible application process that would collect the right amount of information from each type of applicant and introduced an improved credit approval process.

We also worked to develop a customized PC-based application to fill the gap left by the soon-to-be-removed mainframe computer. Seven months later, the division's goals were defined, and new processes, organization and technology were conceptualized, designed, and implemented. Two bank units were reorganized into one new acquisition unit, and the number of staff required to process each application was significantly reduced

The Results
All project goals, including cost-cutting, improved customer satisfaction, and mainframe replacement, were achieved. The average cost per customer acquisition fell by 40%, while the average days taken to process an application fell from 15 to 9. By making its merchant services easier to buy and sell, the bank boosted applications by 75%.