Bank of Communications Selects Teradata for Robust Event-Based Marketing China's fifth largest bank achieves record response rates with event-based marketing system on Teradata
BEIJING, July 23, 2012 /PRNewswire/ -- Teradata (NYSE: TDC), the leading analytic data solutions company, announced that the Bank of Communications, China's fifth largest commercial bank, has deployed its event-based marketing solution on the Teradata Active Enterprise Data Warehouse platform. The solution will enhance the bank's ability to make the best decision possible based on its enhanced operational performance and effectiveness.
"Before initiating the event-based marketing project with Teradata, we were unable to collect a complete set of customer information, because of the challenges of data inaccuracy created by multiple data sources and quickly changing data. We needed a solution to integrate data and improve data quality," said head of the project at Bank of Communications. "With the powerful solution and consulting service from Teradata, we are now able to run targeted marketing campaigns with better customer information and precise customer relationship management."
During the first three-months, Teradata helped execute two successful event-based marketing campaigns with a record response rate of nearly 56 percent for one campaign, which is more than any previous programs. Based on the analysis of customers' attributes and behavior, event-based marketing will be used to retain profitable customers, acquire high-potential customers, and enrich the customers' experience.
Since 2005, Teradata has been providing professional service to Bank of Communications and helped build its enterprise data warehouse. This system currently hosts the bank's mission-critical business applications and offers data services to key business users with more than 60 business intelligence applications. In September 2011, the Bank of Communications selected Teradata as its solution provider for marketing.
"Today's financial market is increasingly competitive and bank's customers are becoming more diversified and sophisticated. To outperform the competition, banks need to segment the customers and provide them with differentiated offerings," said Aaron Hsin, president of Teradata Greater China. "Teradata will continue to help our customers to drive value from their data and provide them with agile and intelligent competitive advantages."
The Teradata solution will enable the bank to create a closed-loop marketing management process. The closed-loop marketing management process includes information integration, data analysis, sales leads discovery, channel communication, selling process management, and campaign feedback.
About Bank of Communications
The Bank of Communications was founded in 1908. As one of the oldest bank in China, it emerged as one of the first few major national and note-issuing banks in the early days of the Republic of China. It was listed on the Stock Exchanges of Hong Kong Limited and Shanghai Stock Exchange in June 2005 and May 2007, respectively. The Bank currently has 155 domestic branches, comprising 30 provincial branches, 7 branches directly managed by the Head Office, and 118 managed by provinces. It has also established 2,637 operating locations in 173 cities and 112 counties nationwide. In addition, the Bank has set up 12 overseas institutions, comprising branches in Hong Kong, New York, Tokyo, Singapore, Seoul, Frankfurt, Macau, Ho Chi Minh City, Sydney, and San Francisco, and a representative office in Taipei, and the Bank of Communications (UK) Co., Ltd. According to the British magazine, The Banker, the Top 1000 World Banks 2011, the Bank was ranked number 35 based on its Tier 1 Capital. For the first time, the Bank was also ranked among the top 25 banks worldwide in terms of profit before taxes with a ranking of 24. For more information, please visit www.bankcomm.com
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