Payonomy | Case Studies

Retail Bank Gets Plugged into Payment Processing for Salesforce.com

Challenge

The Bank had deployed Salesforce.com as its relationship management solution and as a tool to enhance the level of automation in the issue of Bonds to individuals, corporate organisations and other bodies over a fixed term.

Since the introduction of Salesforce.com, the Bank had integrated this with the core banking system but had no capability to process payments at the point of sale.

The lack of ability to process payments with the customer on the phone meant that there could at times be a lengthy delay between the customer agreeing to purchase a bond and the receipt of payment. The paper based system of sending out an application form for a customer to complete and return with a cheque was seen a major cause of customer drift and non fulfilment.

• Improve customer enquiry to acquisition rate.
• Reduce time from agreement to payment.
• Offer both Debit Card and Direct Debit payment options to customers.
• Cut costs associated with paper based processing.

Solution

• Scoped and defined payment requirements for Bond sales.
• Integrated Payment processing functions to Custom Objects developed by 2020
  Management (Salesforce.com Consulting Partner) for Bond Sales.
• Implemented Payonomy Direct Debit Management solution for Salesforce.com.
  AUDDIS/Paperless compliant DD origination creating a BACS submission file.
• Implemented Payonomy Card Payment solution for Salesforce.com.
  Acquiring via Lloyds Cardnet for Debit Card payments.
• Implemented Payonomy Direct Debit Management solution for Salesforce.com.
  AUDDIS/Paperless compliant DD origination creating a BACS submission file.

Results

• The Bank is looking at utilising the payment processing now available within Salesforce.com for the management of Loan repayments.
• Paper applications have been massively reduced, improving efficiency and returning a large reduction in costs.
• There has been a significant improvement in the enquiry to sales conversion rate.