P&N Bank’s Sugar Story

By Sarah Friedlander Garcia • June 23rd, 2016
Audiences: Administrators

Erik Fenna, the CIO of P&N Bank, the largest bank owned and managed in Western Australia had a track session at SugarCon this year that focused on how they have leveraged the Sugar platform to build a more inclusive view of the customer, as well as managed key points of the customer lifecycle.

The Journey

When Erik started at P&N Bank, he had to make a decision to either continue to use Sugar and enhance it or go out to market with the business requirements and find something new. 

P&N Bank did talk to other vendors (including Oracle) to get a sense for the CRM market. They felt that while Oracle’s product was very good, they felt that the product was not customized towards banking and financial and they would have had to spend a lot of time on customizations. The price point for Oracle exceeded what a small bank such a P&N was able to budget for a CRM.

Sugar Integration Timeline

Once P&N Bank decided to move forward with Sugar, the following steps were taken:

  1. Sugar chosen as P&N Bank’s CRM Solution
  2. Sugar Upgrade planning started
  3. Upgraded from Sugar 6 to Sugar 7
  4. Extensive development of retail-drive solution
  5. Retail sales staff was trained on the improved solution
  6. Go Live with Improved Solution in addition to the Mobile App
  7. Integration with the new public website for online inquiries

Collections

One important thing that P&N Bank wanted to bring into Sugar was Collections (noncash items) in the single view of the customer. Although this was not available in Sugar out of the box, the price to have an implementation partner (such as UpCurve Cloud) integrate this was very reasonable.

Cases to Opportunity

Out of the box, Sugar is oriented around sales targets instead of customers. P&N worked on modifying their Sugar instance with new data fields and relationship models so they could have banking accounts that were shared either within a business or family.

Banking Accounts added into Sugar included:

  • Loan Accounts
  • Credit Cards
  • Investment Accounts
  • Savings and Transaction Accounts
  • Member Shared Accounts

They also were able to address customers that were deceased that needed to be linked to the account executor.  All of these types of relationships were not natively built into Sugar but were able to be integrated very quickly into P&N Bank’s Sugar instance.

Erik stated that “One of the most fantastic things that we have found working with SugarCRM is how quickly Sugar can be customized and deployed within the company.”

Future Vision for P&N Bank with Sugar

Erik discussed P&N Bank’s future vision and goals as they continue to integrate Sugar into their workflow including:

  • Improved Retention Process
  • Member Segmentation
  • Deep Integration (Where they can have a single unified view that shows items that are important for core banking that are directly connected to data in the CRM).
  • Single View of the Customer
  • Digital Signatures (This is currently difficult to do in Australia where an actual signature is needed instead of a digital signature.
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Sarah Friedlander Garcia
Director of Marketing at UpCurve Cloud