New Bank Analytics
In today’s competitive banking market, banks are looking at new ways to get closer to their customers. In a recent survey conducted by 300 bank executives, some interesting points came out.
Top Request From Bank Executives
This transformation is being driven by customers asking more form their banks as well as having more choices and options. As the competitive landscape increases for banks, the number one challenge they are facing is understanding the changing role of the customer.
The changing role/needs of the customer
The current state of customer management for many banks limits cross-sell success and provides a poor customer experience.
“I have an offer – let me find a customer to sell to.”
Customer insight is limited to a sub-set of available data.
…limiting the relevance and timeliness of offers to customers
New data and analytics capabilities can enable deeper customer engagement and deliver more value to the relationship.