Banking
With the systems Banks have put in place over the years, data is replete in the banking environment today. One would think that with all this data decision making would have become easier, but more often than not this is not the case. Information which does not tally and is coming from different systems causes more confusion than providing clarity.
On the other side customers are demanding more qualified information and expecting more personalized experiences. In this situation, it is critical for banks to be able to address customers based on their needs, their channel propensity and potential value.
WyzMindz helps Banks like yours, deliver breakthroughs by answering vital questions based on synchronized data which makes sense and actionable intelligence via its analytical services offerings.
Challenges Customers Face
There are many issues and questions banks are grappling with:
- How do we gain Market Share and improve profitability?
- How can I bring all the information in various systems in the bank to a common ground to aid decision making?
- What should we be doing to monitor and improve our customer satisfaction?
- How do we increase Lifetime Customer Value?
- Can we improve our customer loyalty?
- Why are my SLAs slipping with respect to customer TAT (Turn around time)?
- What is the best way to target individual customers and provide them with tailor-made offerings?
- What marketing strategies should we employ and what RoI can we expect on the spends?
- How should we price our products or services through their lifecycles?
- What promotions and offers do we employ?
- How do we optimize our capacity planning process?
- Can we predict and mitigate fraud and risk?
WyzMindz Solution
With a slew of issues to tackle, you as a banker need to constantly relook at the way your business is run to ensure survival. This may not only involve re-examining interactions with customers but also focus equally on back-end operations to guarantee success.
Business analytics can help banks like yours, break-down and assimilate information collected and provide better insights into customer tastes and preferences as well as back-end processes.
Our Analytics Services for Banking encompass the following areas where we can help Banks:
Customer Analytics
– Customer Acquisition
– Customer Satisfaction, Loyalty and Retention
– Web Customer Analytics
– Customer Segmentation
– Up-selling and cross-selling optimization
Marketing Analytics
– Marketing Mix Modelling
– Brand Score Cards
– Campaign Effectiveness
– Competitive Assessments
– Demand Forecasting
– Market Basket Analysis
– Market Survey Analysis and Execution
Branch Analytics
– Branch Location Analysis
– Product Pricing and Promotion Analytics
– Branch capacity planning and forecasting
Financial Performance Analytics
– Loan Distribution, Growth, Risk, Exposure and Performance Optimization across segments
– Deposit and their Mobilization across dimensions
– Measure Fund Based as well as non-fund based performance
– Risk & Fraud Analytics
– Trade Finance Operation Optimization
Benefits
Segment markets, competition, customers to understand & deliver maximum profit by product or service category & brand
Increase customer satisfaction, Improve service levels and Revenues
Exert greater discipline in promotion management to drive informed pricing, optimize up-sell and cross-sell to achieve greater profit
Identify and forecast demand changes to adjust capacity and save costs.
Reduce operational costs via process optimization.
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Reduce Risk and Fraud via improved prediction accuracy.