Banking

"Each year 12 million customers consider switching banks"

To address the issue of retention, Strategy Insights offers custom “out of the box” solutions for the Banking industry, which incorporates the knowledge and experience gained through helping some of the largest banks in North America.

Strategy Insights analyzes and presents an integrated view of customers by combing through customer portfolio data to enable an exhaustive 360-degree view of bank customers.

"A 5% increase in retention can increase a bank’s profit margin by 25 - 100%"

Our solutions enable a bank to retain its customers more effectively by:

  • Pin pointing risky customers and providing business actions such as marketing incentives and customer communication
  • Providing key business drivers provide relevant insights into customer behavior

Understand and optimize the profitability:

In the credit card business unit alone, profit per cardholder can range from negative profit to over $100 per year. There tends to be fewer customers in the tail end of this range, with similar trends being observed in checking, saving accounts and other types of consumer loans. To manage this reality, our software:

  • Unearths drivers of customer profitability and provides strategies to upsell products that are more suitable to a targeted customer segment
  • Highlights recommended customer service functions for the most profitable customers, ensuring that they can receive better service to lower their customer churn.

Business Unit Leaders

  •   Better Manage Revenue Risks

Sales and Marketing

  •   Retain customers
  •   Proper Spend in Marketing
  •   Suitable upsell opportunities

Product Innovation

  •   Develop best features for your financial products

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