Marketing and Compliance alignment

Compliance is the obligatory procedure in the finance industry and has a strong impact on CX. Let’s put ourselves on a customer place, who has some issue when passing a compliance procedure to get a particular product but who continues to receive advertising messages with a suggestion to buy exactly this product. It seems like a taunt, isn't it?

To avoid such a situation, marketing communications have to be aligned with critical events in compliance processes.

The main challenge is the integration among IT-systems of the compliance department and marketing, because even if you have a unified MA, a "compliance system" is a set of different apps (ID verification, AML, sanction screening, black & gray lists, etc.) with different capabilities to integrate.

To address this challenge, we deployed in Sugar a single source of truth about a customer, where crucial information from external apps is presented as business events and did the following:

• determined with business process owners a set of key business events in compliance procedures that matter to CX.
• configured a collection of events from compliance's apps in Sugar. The ways were various and depended on the capabilities of the specific apps. It was easy since we needed to get in Sugar only an appropriate ID (customer, client ID, fin account, etc.), event's description or type, and source name.
• configured in Sugar a set of algorithms to react to a new data entry taking into account all range of collected customer events to change the target lists.

This approach solves the objective and gives some advantages on both the implementation and support stages:

• a possibility to configure a decision-making algorithm based on the entire customer history
• ease to determine a starter set of key business events, and no problem to extend or shrink this set in the future
• an easy and unified way to get a full history in the right context in the CRM: client, contact, case, financial account, household, opportunity, etc.
• ease to notify CRM-system users (and not only) about automatically made decisions and changes
• low-cost initial integration by using a unified data exchange approach and codeless tools
• low-cost support of further changes as all business logic is encapsulated in Sugar and can be configured with codeless tools