Downey Savings Teams With Fujitsu-ICL For One-to-one Marketing Through ATMs; Downey Savings Sets Industry First in Using ATM for Market Research Response.
LA JOLLA, Calif.--(BUSINESS WIRE)--Nov. 6, 2000
Fujitsu-ICL Systems Inc. announced today that it has completed implementation of its PrecisionDelivery(TM) technology for personalizing ATM (automated teller machine) services in Downey Savings and Loan Association F.A.'s network of close to 400 Fujitsu Series 7000(TM) ATMs.
Using PrecisionDelivery, Downey Savings has also pioneered the use of the ATM as the primary contact point for conducting customer focus group research and presenting targeted product offers.
PrecisionDelivery comprises data mart technology and proprietary query tools that enable the transformation of customer-related account, demographic, teller and ATM transaction information into customer-focused programs and service improvements. This provides Downey Savings with a better understanding of how its delivery channels are being used and enables it to develop and implement personalized programs based on a wide variety of criteria.
"The key to PrecisionDelivery is its ability to provide timely customer relationship and transaction behavior information," said Richard Grout, executive vice president of Retail Banking for Downey Savings. "PrecisionDelivery allows us to more accurately target the right product to the right customer at the right time, and its very low cost of implementing new promotions makes it extremely cost effective."
PrecisionDelivery personalizes cash withdrawals for frequent ATM users by offering one-button selection of preferred account type and withdrawal amount. PrecisionDelivery also opens the door to new revenue opportunities for Downey Savings, providing the company with the ability to cross-sell appropriate products on a one-to-one basis. Positive responses to a recent offer presented through the ATM exceeded 18 percent, a rate 1,700 percent higher than positive response rates to traditional direct mail offers. Customers also experienced an improvement in overall service as transaction times were shortened, customers were greeted by name and the ATM automatically provided service in the customer's preferred language.
PrecisionDelivery unlocks ATM potential as customer research tool
In a pilot focus-group research study conducted earlier this year using the ATM as the customer contact point, Downey Savings asked 20,000 ATM customers if they would be interested in purchasing a potential new product through its Fujitsu ATMs if Downey Savings were to offer such services.
More than 80 percent of targeted customers had responded within four weeks of starting the focus group and over half expressed interest in the product -- a superior response rate gained from a "captive audience" that is known to use ATMs frequently.
"Downey Savings was pleased to learn so quickly that so many of its frequent ATM customers were interested in the potential product offering," said Craig Deutsch, Fujitsu-ICL's manager for PrecisionDelivery. "We believe that PrecisionDelivery offers a first for the ATM industry -- the ability to measure "on-the-spot" customer interest directly from an ATM. PrecisionDelivery effectively reduces Downey Savings' reliance on expensive outside marketing surveys and provides immediate, tangible results. The one-to-one marketing capability of PrecisionDelivery is a significant step forward in Downey Savings' implementation of a CRM strategy."
"PrecisionDelivery enables us to better understand our customers' preferences and to personalize service to our high-value customers," said Penny Hawkins, vice president, Downey Savings. "The deployment of PrecisionDelivery further underscores our ongoing commitment to providing our customers with superior service and convenient solutions that fit their lifestyle."
Fujitsu-ICL is a leading provider of self-service banking products and services. The company offers a wide array of hardware and software, as well as marketing and field support for the Fujitsu Series 7000(TM) Advanced Platform line of ATMs and cash dispensers.
About Downey Savings
Downey Savings and Loan Association, F.A., whose holding company is Downey Financial Corp., is headquartered in Newport Beach and has helped California residents with their banking and borrowing needs since 1957. With assets over $10 billion, Downey Savings, an Equal Housing Lender, has 107 locations throughout California and also offers Online Banking, and home loans nationwide via the Internet. The stock of Downey Financial Corp. is traded on the New York Stock Exchange and Pacific Exchange under trading symbol "DSL." The Downey Savings corporate Web site address is www.downeysavings.com.
About Fujitsu-ICL Systems Inc.
Fujitsu-ICL Systems Inc. is a subsidiary of Fujitsu Limited, a $50 billion provider of Internet-based information technology solutions for the global marketplace. The company targets retail, financial and e-Business services markets. Its Fujitsu Products group has almost 30 years experience in providing hardware/software solutions and services for retail point-of-sale (POS), specialized handheld computing and ATM applications. Its Retail Software and Services group provides development and customization services and support for retail POS software applications. Its Fujitsu Business Solutions group provides consultancy-led e-services and customer relationship management (CRM) that enable its clients to build high-value, personalized relationships with their customers.
Fujitsu's Web site: www.fujitsu.com.
PrecisionDelivery is a trademark of International Computers Limited. Series 7000 is a trademark of Fujitsu Limited.