TAC Migration Strategy: First Merchants Bank's Transition
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Discover how First Merchants Bank successfully transitioned to a modern online banking platform with the help of Superior’s Technical Assistance Center (TAC).
The Critical Need for Modernization in Banking
The financial industry is rapidly evolving, with customers increasingly demanding seamless, secure, and efficient online banking services. First Merchants Bank (FMB) recognized the need to upgrade its legacy platform to meet these modern expectations. Outdated technology, limited functionality, and security vulnerabilities necessitated a comprehensive transition to a more advanced system.
Modernizing banking services is not just about keeping up with the times; it's about enhancing customer experience, ensuring data security, and staying competitive in a fast-paced industry. For FMB, this meant partnering with Superior’s Technical Assistance Center (TAC) to achieve a smooth migration to a new, user-friendly platform.
Challenges Faced During the Migration Process
Migrating from a legacy system to a modern platform is fraught with challenges. First Merchants Bank faced several significant hurdles during this process:
Complex Data Migration: Ensuring all customer data transitioned seamlessly and accurately was a critical concern.
Customer Change Management: Educating users on the new platform and addressing their hesitance to adapt was essential.
Cross-Team Coordination: Facilitating efficient collaboration between TAC and FMB’s internal teams to ensure project success was paramount.
TAC's Phased Migration Strategy for First Merchants Bank
TAC developed and executed a meticulously planned phased migration strategy over eight weeks, divided into three structured waves. This approach ensured a smooth transition, surpassing previous benchmarks with a 61% interaction rate and exceptional customer satisfaction.
Wave 6: Focused on Positive Pay and ACH payments.
Wave 7: Addressed ACH, wire transfers, and BillPay.
Wave 8: Targeted administrative tools and broader platform enhancements.
Personalized Customer Support and Communication
TAC provided personalized communication and tailored resources to engage clients and ensure a smooth transition. Key elements of the outreach program included:
Personalized Communication:
- Emails: Over 9 emails per client ensured consistent engagement.
- Outbound Phone Campaigns: To connect with clients who may be less responsive to email.
- Zoom Appointments: Tier 1 clients received personalized support sessions with screen-sharing capabilities for real-time assistance.
- Webinars: Live webinars delivered interactive training sessions for broader client groups.
White-Labeled Services: TAC operated under FMB’s branding, creating a seamless and trustworthy experience for customers.
Customer Resources: Custom training videos created by TAC offered clear, on-demand guidance, reducing reliance on live support. Dedicated landing pages hosted user guides, training materials, and video tutorials.
Proactive Reporting: Daily and weekly reports tracked progress, allowing the team to adjust strategies based on client engagement and feedback.
Exceptional Results and Future Prospects
The phased migration delivered outstanding outcomes for First Merchants Bank:
61% Interaction Rate: Exceeding the projected 55% average for comparable TAC conversion projects.
Enhanced Engagement: Webinar participation rose dramatically, from 84 attendees in Wave 6 to 1,372 in Wave 8.
High Customer Satisfaction: Personalized support and clear communication built trust, ensuring a smooth and successful migration experience.
By providing personalized support and proactive communication, TAC not only ensured a smooth migration but also reinforced FMB’s confidence in their partnership. This foundation of trust and exceptional service has solidified Superior’s reputation as a reliable and valued partner for FMB’s ongoing success and future initiatives.
