Acquiring customers and retaining them is important for every company. For a bank, however, it is not only particularly important, but also a very special challenge. This is because one distinguishing feature no longer plays a role when looking for the right lender in times of low interest rates.

Thüringer Aufbaubank (TAB) is headquartered in Erfurt and is not a private sector bank, but the development bank of the Free State of Thuringia. It funds a wide variety of business, agricultural and research projects and supports start-ups as well as private individuals. Moreover, the bank is an important contact for municipalities that need funds for public infrastructure.

So how does a bank like this manage to inspire customers when one of its USPs – low interest rates because it is publicly subsidised – is no longer a USP compared to the competition in the sector? Today, we will take a closer look at how intensive consulting and a well-founded system evaluation have prepared TAB for the implementation of a customer relationship management (CRM) system that is to help the bank to address this major issue through digitisation and data-driven methods.