Delivering Exceptional Customer Service at Citigroup

Hosted by Global 360 (now Open Text), Tim Burns of Citigroup Fund Services discussed their customer-centric dynamic case management. As the fund services end of the business, performing transfer agency, trust accounting and fund accounting services, their customers are not end-consumers, but rather fund companies for whom they provide those services. That means that the customer experience equation is a bit different from most of the case studies that we’ve been hearing about so far today, but even more critical since losing a single customer is a huge event for a fund services firm such as this.

Although he’s fairly new to Citi, he’s been working in BPM (from the technology side) in financial services for a number of years, and has seen movement from the old way of doing business – paper-based, manual processes with a lot of disconnects – to the new way, which is flexible and adaptable for each customer through integration, provide skills-based work routing regardless of geographic location, and include audit and compliance.

They’ve implemented Global 360’s dynamic case management as part of varied portfolio of other operations systems, providing visibility into client transactions and enabling collaboration for their knowledge workers. In spite of the focus of the presentation on customer experience, Burns discussed the benefits as mostly around FTE reduction, the ability to handle more work without adding staff, and reduced disaster recovery costs: none of which are related to customer experience. Interestingly, when I first implemented a system very much like this almost 20 years ago at CI Mutual Funds, the focus was on improving their DALBAR rating for customer service (which we did, from #9 to #2 in a year); I’m sure that someone in Citi is looking at numbers like this, although Burns is more focused on implementation efficiencies.

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