Guest post by Francis McKeon, Banking Industry Director, IBM Business Analytics.
The long-term after-effects of the financial crisis are causing banks to reconsider their business models and strategies and driving renewed focus on the customer.
Replacing the product push or “revenue at all costs” approach with a coordinated and aligned response to putting the customer first is unquestionably the new source of innovation and competitive advantage.
Join us for the IBM Banking Summit 2013, taking place September 17at the Marriott Marquis in New York City to hear about how banks can overcome these challenges and prime themselves for growth and profitability
This free, half-day event will look at three ways that banks can gain the greatest return on their investment in analytics, and gain the greatest competitive advantage by:
Driving competitive advantage through risk-aware decision making
Optimizing channel strategies and using incentive compensation management as a competitive weapon
Accelerating the shift towards becoming a profitable, customer-focused bank
For example, infusing big data and analytics through the customer-focused value chain enables banks to use existing and new sources of customer intelligence to anticipate individual client requirements and provide more targeted and actionable insights to client channels
Consider the case of Rabobank, the largest financial services provider in The Netherlands. Rabobank is actually a cooperative of all banks of the Rabobank Group. The financial services leader wanted to optimize its market and customer information – getting a better picture of individual customers – to create strategic offers for cross-, up- and deep-selling initiatives. Using IBM predictive analytics software, the group created and executed targeted direct marketing and lead generation campaigns. The results: Acquisition, cross-selling and retention campaigns are more accurately targeted – reducing campaign costs and increasing success rates. Rabobank can now determine the best way to approach the customer, considering a customer’s background and preferences, such as being contacted in person by an advisor or via a mailing list.
If you're looking for this kind of change, join us at the IBM Banking Summit for our super-session on "Accelerating the Shift to a customer-Focused Bank." This session is designed for executives responsible for sales, marketing, finance, operations, customer service/support, and relationship management. Through this session you will:
Learn about the critical business capabilities and success factors every bank must tackle in order to accelerate the shift to profitable customer-centricity
Hear the in-depth story of how one bank is creating alignment, agility, and advantage around its customer strategies
See a demonstration of IBM’s customer analytics solutions
Learn how to accelerate your organization’s analytics maturity
You will also get to hear firsthand from an IBM client on how we are working together to help them extract customer insights with unstructured text mining.
Change is in the air
At the IBM Banking Summit, your peers, IBM and industry experts will share their views on the challenges banks face today, including the need to develop effective sales performance management strategies.
Register for the IBM Banking summit.
For more details now about what IBM offers banks, view these resources: