Companies and Intellectual Property
Commission (CIPC) and First National Bank (FNB)
Collaborative efforts to implement customer centric
improvements
ECRF : June 2013
Company Confidential, Business Banking
Content
• Introduction to CIPC and FNB
• Key value proposition for Business customers
• Annual Renewals process
• Annual Renewals process : key milestones
• Account opening and registration integration process
• Account opening and registration integration process : key milestones
• Questions
Company Confidential, Business Banking
Introduction
Company Confidential, Business Banking
Who is CIPC?
• Established as an independent agency in May 2011 with
introduction of new Company law;
• Legislation
aimed
to
make
company
registration
and
maintenance easier and stripped away a lot of unnecessary
requirements for small firms:
• e.g. audit requirements;
• Name reservation;
• Challenge has been to align processes and systems with letter
and spirit of the law and to continuously streamline and
innovate;
Legislative Mandate
• CIPC administers all or part of 15 laws in the corporate and intellectual
property domains;
• Vast legislative compliance role - registration of corporate entities,
intellectual property rights, business names and business rescue
practitioners, monitoring compliance with governance and disclosure
rules, protecting certain IP rights, providing education on the laws and
their implications and providing policy support – clear focus on
creative industries, protecting invention and facilitating enterprise
Mandate may appear diverse, but presents unique
opportunity to explore synergy and interrelationships
Facts about CIPC Companies Register
• Total size of the register (companies and close
corporations): about 1.3 million
• CIPC registers about 20,000 companies per month;
• 70% of registration is electronic;
• Average turnaround time
– for manual transactions: 20 days
– for electronic transactions: 3 days (bringing time
taken down every day – most electronic
transactions processed within 1 day, excl. name
reservation);
FNB and FirstRand
London, UK
China
Dubai
Africa
India
Existing Africa countries
South Africa
Namibia
Botswana
Lesotho
Mozambique
Swaziland
Zambia
Tanzania
REP Office
Angola
Nigeria
Kenya
Banking operations footprint
FirstRand Bank Branch
Representative Office
Priority countries
Nigeria
Ghana
Making it easier to start a (formal) business
•
•
•
•
and
Making it easier to transact with CIPC;
run
– 96% of our customers have e-mail addresses and
overwhelming majority prefer to transact electronically
with us;
– Customers struggle to get hold of us – need to dramatically
improve our telephone service;
Reducing the need for duplicate filings with government
departments;
Providing integrated service offerings with collaboration
partners – three way value proposition:
– CIPC – Partner institution – end user/client
2 obvious partners – Banks, South African Revenue Services
– Combine compliance and convenience for businesses;
– Integrated service offerings to businesses;
– Improved identity verification for CIPC
Using collaboration to improve ease of
doing business
• Due to Know Your Customer rules, banks collect very similar
information as CIPC (and the revenue service);
• Company hijacking/corporate identity theft has highlighted
need for more secure processes – very similar to personal
identity theft that banks face;
• Close alignment of processes – upfront face-to-face
verification, security for changes
• Opportunity identified to collaborate with banks;
• Initiated pilot project with one bank, First National Bank (FNB),
but have been very open to initiatives with all banks and have
extended an invitation to them;
Key value proposition for Business customers
Integration into yearly /
half-yearly tax submissions.
Account Opening
Rewards for
right behaviour
Multiple
channels
Access
mechanisms
Account
Maintenance
Facilities
Value Adds
Devices
CIPC / Tax
Account life-cycle
management.
Financial documentation,
renewal process alerts and
automation.
Integrated account opening
processes and name
reservations, across all
channels.
Fulfillment
Switch or
Migrate
Processes
completed
Customer has close to
immediate ability to get
business going and to transact.
Realises importance of
compliance and legislative
processes.
Easing administrative burden of doing business
Value proposition extends to CIPC, and other legislative / governmental bodies
Annual Renewals process
Analytics and MI shared between CIPC and FNB to verify
customer numbers and type of intervention required – customer
contact details also shared
Within Annual
Renewal Notification
timeframe
Past Annual Renewal
Notification
timeframe
In Deregistration
Process
timeframe
Customer base ID’ed to require Annual Renewals
Tailored customer communication, with step by step processes to
renew and / or prevent deregistration
Customer call to action mointored
Annual Renewals process - key milestones
Highlights
Benefit
In excess of 100,000 customers now contacted via the
phased process (annual renewals process went live in
August 2012).
Fully operational contact process, with multi-pass
strategies in effect.
Improved customer engagement, entrenchment and
ultimately reduced attrition.
General customer receptivity has been very positive.
Integration for all phases of customer and account activity
to communicate CIPC processes in all available channels.
Process flow changes prevent customers from being
targeted repeatedly.
Scale available for all segments within Firstrand.
Account opening and registration integration process
FNB’s Online Account opening landing page for Business Accounts –
also available via Internet Banking kiosks in branches.
Account opening and registration integration process
Account selection also includes a host of free value adds meant to
ease management of the account, and ties into the ‘easing of
administrative burdens’ strategy.
Account opening and registration integration process
Product Basket (at left) also allows selection of core cross-sales of
key products.
Account opening and registration integration process
This step differentiates between new to bank customers versus
existing customers wishing to deepen their relationship with FNB
by now opening a Business Account.
Account opening and registration integration process
Capturing of customer details then commences, with step by step
instructions on what requires completion.
Account opening and registration integration process
The customer is next offered the integrated registration process
option – if this is chosen (for businesses without an existing
registration number) the integration process begins.
Account opening and registration integration process
The last step requires completion of all details required for the
CIPC registration. Fulfillment activities now commence – no further
customer action is required except customer verification which is
handled using FNB’s existing processes.
Account opening and registration integration
process – key milestones
Highlights
Benefit
Pilot phase commenced in late May 2013.
End to end integration for pilot customers to stress test
the process.
Manual fall-back processes in place to ensure that
customer applications are not orphaned in the event of
system or communication issues.
Fulfillment processes completely linked into FNB’s Online
account opening processes to ensure standardisation.
Full go-live implementation scheduled for third week of
June 2013.
Sufficient time allocated for piloting.
Coincides with marketing campaigns advertising other key
features and benefits of FNB’s Business Banking account.
Questions?