Banking: Customers View - Q&A Part I

Banking: Customers View - Q&A Part I

For any bank reach 360 customers visibility is fundamental part in this times, including decisions based on core business.

Customer dimensions are hard to work manually, for example delinquency rate (KRI), Royalty rate (KMI), Accounts in other banks, Avg by Tx – Assets, etc.

Why is this information valuable for Bank Managers?

Now think you can take this information and convert to knowledge, experience, sentiment and prediction; avoiding standard business “thinking”. Learning about your customers will define the new vision, mission and of course a new strategy to convert your strategies.

What this knowledge will let me bring as Banking Manager?

New offers adapted to new segment and targets. Decoder the capacity to launch campaigns to new customers adapted to your new target segments strategy.

Compete with “knowledge”, adapt to market changes when happens, move, close, cancel, launch and redesign campaigns and products to new financial situations.

Is Risk Management prepared for this change?

Of course, Risk Management are more appropriate professionals to faster implement actions related to customer behavior with financial products, recommend about Xsell, Upsell and any other strategy organized by segments.

From my POV, Risk Managers are the natural owners of this information, and of course they are the final authority to approve any change in financial products or new campaigns.

Why Financial Managers are internal clients of this information?

Because Financial Managers determine when a strategy implemented around the bank has accomplish with his objective in financial terms. Must provide feedback and Results analysis based on specific business drivers, risk drivers, performance drivers, economic drivers and country drivers. So, must convert a financial statement in a business feedback to Operations, Risk Managers, CMO and CEO.

Do the Banks Managers believe in Process Changes?

Sure, today banks must adapt their processes and staff profiles to new IT Solutions. It is an evolution impulse by IOT; those banks reaching first adaptations will share greater market sizing and better results than competence.

Thinking about reducing time to Market to launch new products, is a reflexing we must provide to banks whose want to be the first to implement innovation business through new products and services, those with more than traditional services as public services payments and mobile apps to access home banking.

R&D, Innovation and economics analysis Units are fundamental supports as back office to the core business but not as decision makers.

New type of consumer behavior are changing the way banks must conduct their strategy with other industries and new clients. Is not only an IT transformation...