Heritage ‘pioneers’ major CRM upgrade

Heritage Bank

The Australian mutual banking sector’s go-to customer relationship management platform, Prosper CRM, has undergone a major revamp, adding new core banking integration and unified customer view capabilities, with Heritage Bank announcing it is among the first local adopters of the new platform.

Specially developed for mutual banks, the CRM has been adopted by a number of local financial institutions, including the Bank of Queensland, Bank Australia, Qudos, IMB Bank, and Defence Bank, as well as insurance giant TAL and fintech Finastra, among others.

Heritage was also among the first to deploy the original Prosper CRM back in 2005.

Heritage stressed the importance of its collaboration with local developer Timestar in delivering the Prosper CRM upgrades, which makes ready use of APIs to support the integration of customer onboarding and loan application platforms with its core banking systems.

“We’ve had a long-standing and very rewarding relationship with Timestar, and working with them on this project has cemented those bonds,” Heritage chief executive Peter Lock said.

Through the platform upgrade, Heritage will gain instant access to a “full central view of the customer”, made available through a central tab.

Heritage said the “new easier-to-use interface can reduce service times by up to a third”.

“The updated Prosper CRM definitely helps us know our members better and see their current Heritage relationship faster,” Lock said.

“The system’s functionality is based around the way a mutual bank operates, which means putting the interests of our members first.”

Heritage has also praised the platform’s flexibility, with the ability to carry out most enhancements and maintenance in-house, it said, enabling it to slash maintenance times in half.

The platform also embeds tools and functionalities for key regulatory requirements, including RG271 complaints handling, Open Banking, Design and Distribution Obligations (DDO) and Anti-Hawking provisions.

The new Prosper CRM has been designed specifically for the Windows 10 operating environment.