This week we announced that we would be offering analytic solutions in the financial services industry. After seeing success in retail and healthcare, the parallels can be easily drawn to banking.
With current consumer confidence in banks, this is the perfect climate for community banks and credit unions to be proactively target marketing to prospective customers.
According to a study by the management consulting firm cg42, $399 billion in customer deposits will be "in play" in 2012 at the 10 largest banks in the United States. The study also found that:
• 71% believe their banks do not have consumers' interests at heart
• 70% want to spread their financial relationships among several banks
• 50% of survey respondents are uncomfortable with the immense size of many banks
With challenges like these, the opportunities are greater than ever before to find the right new customers, retain your most profitable current customers, increase the number of products per household, and improve the convenience of your branch network. Get these right and everything else will fall into place.
To learn more about analytics in the financial services world, please contact us.