IBM BAO Case Study: Suncorp-Metway Ltd
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Suncorp is a diversified financial services group that offers general insurance, banking, life insurance and wealth management services. With operations in Australia and New Zealand, Suncorp has over AU$95 billion in assets, more than 16,000 employees and relationships with over nine million customers. The financial services organization maintains five operating divisions, managing 14 market brands, and is supported by corporate and shared services divisions.
Suncorp-Metway Ltd wanted a single, integrated view of its customers to ensure its marketing campaigns didn’t encourage internal conflict between the brands and duplication of efforts, both of which had a negative effect on the bottom line.
Mergers and acquisitions can increase data management complexity. Suncorp-Metway Ltd ended up with 23 different source systems for customer data after a decade-long period of growth. By creating a master data hub, 23 million source records were reduced to roughly 9 million unique accounts that contain all the data available for each customer in one place. This single view enhances understanding of each customer’s total value across multiple brands and helps Suncorp-Metway Ltd make more informed decisions about which products to promote to which customers.
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