This e-book explores the many uses of client insights for banking and wealth management. By using sophisticated analytics and cognitive capabilities, your organization can gain deep understanding of what matters most to your clients. Knowing them well helps to provide targeted, personalized service that they value and increases their loyalty. It’s a smart pathway for reducing churn and generating new revenue models through meaningful cross-selling opportunities in today’s customer-centric world.
The financial services industry is increasingly at a crossroads. Faced with mounting pressure from external forces, such a competition from FinTech companies and a more demanding client base, banks and financial services firms are working to become more customer-centric in their approach to business. However, the need to keep sensitive customer and business information secure and ensure compliance with government regulations can stymie those efforts.
The proprietary hardware so prevalent in traditional networks can’t provide what financial institutions need; a growing number, therefore, are turning to software-defined networking
More connected, informed and demanding customers have the financial services sector looking closely at their processes and products. Collaborative digital platforms can transform your value network and approach.
• Improve data insights: Transform legacy systems, manual processes and data silos for consumer-centric collaboration.
• Compete with agile FinTech startups: Use disruptive technologies to meet clients’ changing needs.
• Empower me to make my own decisions: Give self-directed customers exceptional experiences, like rapid enrolment and self-assessment tools.
• Turn regulatory compliance to competitive advantage: Use digitization to improve compliance, reduce risk and enhance governance.
• Improve customer experience through digitization: Reduce regulatory issues, gain insights, increase efficiency and customer-centric innovation.
I invite you to download your targeted industry analysis and uncover the expectations to take into account at every stage to be disruptive in the age o
In December 2013, Pegasystems commissioned Forrester Consulting to evaluate the people, process, and technology pain points and best practices overall in each of the key phases of commercial and investment client onboarding. Then to further explore this trend, Forrester developed a hypothesis that tested the assertion that commercial onboarding has a number of pain points that prevent a unified client-centric experience.
How customer-centric transformation can lead to deeper relationships, increased revenue and streamlined operations. Though the global economy is still sluggishly shaking off the effects of the near meltdown in 2008 and the ongoing sovereign debt crisis, banks in both the emerging and developed economies have as opportunity to manage enormous capital growth and wealth creation. But to regain customer confidence and earn their slice of the increasingly competitive market, banks must transform themselves. They must jettison decades-old, product-oriented operating models and become fully client-centric.
Though the global economy is still shaking off the effects of the past and current financial crises, banks in both the emerging and developed economies have an opportunity to manage enormous capital growth and wealth creation. To regain customer confidence and earn their slice of the increasingly competitive market, banks must transform themselves by jettisoning old, product oriented operating models to become a client centric operation. Read this insightful paper from IBM Global Business Services to understand how banks can effectively use the information they have and become truly customer centric by re-organizing their operations around customer differentiation, pricing, product bundling, channel consistency and customer engagement.
To succeed in the new economic environment, banks in both emerging and mature markets must become more client centric by leveraging sophisticated insights to improve risk management, pricing, channel performance and client satisfaction.
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