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The bank is using Siebel's eFinance software, part of its eBusiness Applications customer relationship management (CRM) product, to target new customers and manage existing customer data within its Business Banking division.
Siebel pipped Oracle and PeopleSoft to the contract with the bank, following a tendering period lasting a number of months.
Commenting on the tender James Farrar, senior director at the Bank of Scotland, said: "PeopleSoft came third because at the time their proposition was absolutely brand new and there was a lot of risk associated with it".
He added that the competition was very tight between Oracle and Siebel. However, Farrar said: "Ultimately, we could see Siebel working in a financial environment".
The Bank of Scotland based the new system around IBM's DB2 database and brought in systems integrator Xansa to help with the deployment, The bank also brought Siebel into the implementation and integration process to minimise the risk of failure.
"We wanted the responsibility to remain with Siebel until the system was up and running," Farrar stated.
The whole process from start to go live, took just 70 days, a time period the bank had pre-defined. The software is being used to attract new customers to its Business Banking services, which have grown in scale since the Bank's merger with the Halifax.
According to Farrar, around 250 users are currently using the system, which is phase one of a long-term CRM strategy.
The bank is now working on phase two of the project, which will see more functionality and greater integration added. Farrar said there will be major implementations occurring on a six-monthly basis, but Siebel will have to prove its worth if it wants to remain as the provider of choice.
"We will have a CRM system, and it will be based on Siebel as long as it can keep delivering," Farrar explained. "But it won't be cut and dried. If the licences get silly, Siebel's position may change".