Tag Archives: Financial Services

Financial Services at Informatica World 2015

INFA15

Informatica World 2015

Yes boys and girls, it’s that time again. Counting down to sunny casino soaked days in Las Vegas for Informatica World 2015. Exciting stuff to be sure. Every year we get re-energized and excited about all the great things that can be done with data. How can you take your enterprise and truly each and every waking minute to the next level in working with data?

And financial services topics are no exception. It’s been an exciting year of new innovations and new initiatives in financial services. Everything from data governance excellence, regulatory reporting to a better understanding of account and policyholders and all of the analytics in between. Very exciting. So let’s run down a few of the highlights of things you can see this year from financial services at Informatica World 2015. We look forward to seeing you there…

I won’t even mention the great general sessions and education that are taking place throughout the event. Needless to say those will be, as my five year old says, epic. And for anyone really wanting to dive deep into Big Data, make sure to join the hours of fun on Tuesday for the Big Data Ready Summit.

Make sure to kick off your conference the right way with a private breakfast for financial services on Tuesday featuring an eye opening “Good Morning Informatica” style talk show.

For those interested in maximizing your Informatica platform investment in Big Data, make sure to catch the panel with BB&T, Transamerica and others on May 13. More excited about innovations in data integration, catch the innovation in data insight from USBank also on May 13. Things get even juicier as MasterCard discusses the use of data hubs for better analytics earlier that same morning.

Now for you fans of Data Governance, we didn’t forget you. With such an important area of emphasis for financial services, we have the leaders of the EDM Council discussing data governance frameworks and industry best practices on May 14. We also have Fidelity Investments drilling into metadata management as part of their governance innovation on May 13. And who could forget GE Capital ANZ talking to us about operational efficiencies in compliance programs that same afternoon.

We can’t leave out Cloud integration, with State Street discussion their experiences in Cloud and a Total Customer Relationship on May 13. JPMorgan Chase talks about data security in development on May 13, we all know that’s a hot topic in financial services these days.

And so many other great sessions in financial services and beyond, including the several hours of Meet the Experts sessions where you can speak in a more intimate setting about your needs on specific topics like banking and insurance. Check out the session grid for more information.

If you are attending Informatica World 2015, and we certainly hope you are, make sure to talk to your account contact about setting up an Executive Briefing. There you can spend that dedicated time with product and industry experts to focus on your needs.

Safe travels; good luck and we’ll see you in Las Vegas!!!

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Regulation Ready: People, Processes and Technology, oh my!

Regulation Ready

Regulation Ready

Data Governance, the art of being Regulation Ready is about a lot of things, but one thing is clear. It’s NOT just about the technology. You ever been in one of those meetings, probably more than a few, where committees and virtual teams discuss the latest corporate initiatives? You know, those meetings where you want to dip your face in lava and run into the ocean? Because at the end of the meeting, everyone goes back to their day jobs and nothing changes.

Now comes a new law or regulation from the governing body du jour. There are common threads to each and every regulation related to data. Laws like HIPAA even had entire sections dedicated to the types of filing cabinets required in the office to protect healthcare data. And the same is true of regulations like BCBS 239, CCAR reporting and Solvency II. The laws ask; what are you reporting, how did you get that data, where has it been, what does this data mean and who has touched it. Virtually all of the regulations dealing with data have those elements.

So it behooves an organization to be Regulation Ready. This means those committees and virtual teams need to be driving cultural and process change. It’s not just about the technology; it’s as much about people and processes. Every role in the organization, from the developer to the business executive should embed the concepts of data governance in their daily work. From the time a developer or architect builds a new system, they need to document and define everything and every piece of data. It reminds me of days writing code and remembering to comment each code block. And the business executive likewise is sharing business rules and definition from the top so they can be integrated into the systems that eventually have to report on it.

Finally, the processes that support a data governance program are augmented by the technology. It may seem to suffice, that systems are documented in spreadsheets and documents, but those are more and more error prone and in the end not reliable in audit.

Informatica is the market leader in data management infrastructure to be Regulation Ready. This means, everything, from data movement and quality to definitions and security. Because at the end of the day, once you have the people culturally integrated, and the processes supporting the data workload, a centralized, high performance and feature rich technology needs to be in place to complete the trifecta. Informatica is pleased to offer the industry this leading technology as part of a comprehensive data governance foundation.

Informatica will be sharing this vision at the upcoming Annual FIMA 2015 Conference in Boston from March 30 to April 1. Come and visit Informatica at FIMA 2015 in Booth #3.

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Banks and the Art of the Possible: Disruptors are Re-shaping Banking

Banks and the Art of the Possible

Banks and the Art of the Possible: Disruptors are Re-shaping Banking

The problem many banks encounter today is that they have vast sums of investment tied up in old ways of doing things. Historically, customers chose a bank and remained ’loyal’ throughout their lifetime…now competition is rife and loyalty is becoming a thing of a past. In order to stay ahead of the competition, gain and keep customers, they need to understand the ever-evolving market, disrupt norms and continue to delight customers. The tradition of staying with one bank due to family convention or from ease has now been replaced with a more informed customer who understands the variety of choice at their fingertips.

Challenger Banks don’t build on ideas of tradition and legacy and see how they can make adjustments to them. They embrace change. Longer-established banks can’t afford to do nothing, and assume their size and stature will attract customers.

Here’s some useful information

Accenture’s recent report, The Bank of Things, succinctly explains what ‘Customer 3.0’ is all about. The connected customer isn’t necessarily younger. It’s everybody. Banks can get to know their customers better by making better use of information. It all depends on using intelligent data rather than all data. Interrogating the wrong data can be time-consuming, costly and results in little actionable information.

When an organisation sets out with the intention of knowing its customers, then it can calibrate its data according with where the gold nuggets – the real business insights – come from. What do people do most? Where do they go most? Now that they’re using branches and phone banking less and less – what do they look for in a mobile app?

Customer 3.0 wants to know what the bank can offer them all-the-time, on the move, on their own device. They want offers designed for their lifestyle. Correctly deciphered data can drive the level of customer segmentation that empowers such marketing initiatives. This means an organisation has to have the ability and the agility to move with its customers. It’s a journey that never ends -technology will never have a cut-off point just like customer expectations will never stop evolving.

It’s time for banks to re-shape banking

Informatica have been working with major retail banks globally to redefine banking excellence and realign operations to deliver it. We always start by asking our customers the revealing question “Have you looked at the art of the possible to future-proof your business over the next five to ten years and beyond?” This is where the discussion begins to explore really interesting notions about unlocking potential. No bank can afford to ignore them.

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Posted in B2B Data Exchange, Banking & Capital Markets, Business Impact / Benefits, Business/IT Collaboration, Cloud Data Integration, Data Services, Financial Services | Tagged , , , , | Leave a comment

Magical Data from the Internet of Things? Think again…

Internet of Things

Internet of Things

I recently read an opinion piece written in an insurance publication online. The author postulated, among other things, that the Internet of Things would magically deliver great data to an insurer. Yes, it was a statement just that glib. Almost as if there is some fantastic device that you just plug into the wall and out streams a flow of unicorns and rainbows. And furthermore that those unicorns and rainbows will subsequently give a magical boost to your business. But hey, you plugged in that fantastic device, so bring on the magic.

Now, let’s come back from the land of fairytales and ground ourselves in reality. Data is important, no doubt about that. Today, financial services firms are able to access data from so many new data sources. One of those new and fancy data sources is the myriad of devices in this thing we call the Internet of Things.

You ever have one of those frustrating days with your smart phone? Dropped calls, slow Internet, Facebook won’t locate you? Well, other devices experience the same wonkiness. Even the most robust of devices found on commercial aircraft or military equipment are not lossless in data transmission. And that’s where we are with the Internet of Things. All great devices, they serve a number of purposes, but are still fallible in communicating with the “mother ship”.

A telematics device in a consumer vehicle can transmit, VIN, speed, latitude/longitude, time, and other vehicle statuses for use in auto insurance. As with other devices on a network, some of these data elements will not come through reliably. That means that in order to reconstruct or smooth the set of data, interpolations need to be made and/or entire entries deleted as useless. That is the first issue. Second, simply receiving this isolated dataset does not make sense of it. The data needs to be moved, cleansed and then correlated to other pieces of the puzzle, which eventually turn into a policyholder, an account holder, a client or a risk. And finally, that enhanced data can be used for further analytics. It can be archived, aggregated, warehoused and secured for additional analysis. None of these activities happen magically. And the sheer volume of integration points and data requires a robust and standardized data management infrastructure.

So no, just having an open channel to the stream of noise from your local Internet of Things will not magically deliver you great data. Great data comes from market leading data management solutions from Informatica. So whether you are an insurance company, financial services firm or data provider, being “Insurance Ready” means having great data; ready to use; everywhere…from Informatica.

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How to Improve Cross Sell and Customer Experience in Banking

Customer Experience in Banking

Customer Experience in Banking

I recently refinanced an existing mortgage on an investment property with my bank. Like most folks these days, I went to their website from my iPad, fill out an online application form, and received a pre-approval decision. Like any mortgage application, we stated our liabilities and assets including credit cards, auto loans, and investment accounts some of which were with this bank.  During the process I also entered a new contact email address after my email service was hacked over the summer.  The whole process took quite a bit of time and being an inpatient person I ended up logging off and coming back to the application over the weekend.

I walked into my local branch the following week to do a withdrawal with my bank teller and asked how my mortgage application was going. She had no clue what I was talking about as though I was a complete stranger.  When I asked her if they had my updated email address that I entered online, she was equally puzzled stating that any updates to that information would require me to contact all the other groups that held my brokerage, credit card, and mortgage services to make the change. That experience was extremely frustrating and I felt like my bank had no idea who I was as a customer despite the fact my ATM card as printed on it “Customer Since 1989″! Even worse, I expected someone to reach out to me after entering my entire financial history on my mortgage application about moving my investment accounts to their bank however no one contacted me about any new offers or services. (Wondering if they really wanted my business??)

2015 will continue to be a challenge for banks large and small to grow revenue caused by low interest rates, increasing competition from non-traditional segments, and lower customer loyalty with existing institutions.  The biggest opportunity for banks to grow revenue is to expand the wallet with existing customers.  Though times are ahead as many bank customers continue to do business with a multitude of different financial institutions.

The average U.S. consumer owns between 8-12 financial products ranging from your basic checking, credit card, mortgages, etc. to a wider range of products from IRA’s to 401K’s as they get closer to retirement.  On the flip side the average institution has between 2-3 products per customer relationship.  So why do banks continue to struggle in gaining more wallet share from existing customers?  Based on my experience and research, it stems down to two key reasons including:

  • Traditional product-centric business silos and systems
  • Lack of a single trusted source of customer, account, household, and other shared data syndicated and governed across the enterprise

The first reason is the way banks are set up to do business. Back in the day, you would walk into your local branch office. As you enter the doors, you have your bank tellers behind the counter ready to handle your deposits, withdrawals, and payments. If you need to open a new account you would talk to the new accounts manager sitting at their desk waiting to offer you a cookie. For mortgages and auto loans that would be someone else sitting in the far side of the building equally eager to sign new customers. As banks diversified their businesses with new products including investments, credit cards, insurance, etc. each product had their own operating units. The advent of the internet did not really change the traditional “brick and mortar” business model. Instead, one would go to the bank’s website to transact or sign up for a new product however on the back end the systems, people, and incentives to sell one product did not change creating the same disconnected customer experience.  Fast forward to today, these product centric silos continue to exist in big and small banks across the globe despite CEO’s saying they are focused on delivering a better customer experience.

Why is that the case? Well, another reason or cause are the systems within these product silos including core banking, loan origination, loan servicing, brokerage systems, etc. that were never designed to share common information with each other. In traditional retail or consumer banks maintained customer, account, and household information within the Customer Information File (CIF) often part of the core banking systems. Primary and secondary account holders would be grouped with a household based on the same last name and mailing address. Unfortunately, CIF systems were mainly used within retail banking. The problem grows expotentially as more systems were adopted to run the business across core business functions and traditional product business silos. Each group and its systems managed their own versions of the truth and these environments were never set up to share common data between them.

This is where Master Data Management technology can help.  “Master Data” is defined as a single source of basic business data used across multiple systems, applications, and/or processes.  In banking that traditionally includes information such as:

  • Customer name
  • Address
  • Email
  • Phone
  • Account numbers
  • Employer
  • Household members
  • Employees of the bank
  • Etc.

Master Data Management technology has evolved over the years starting as Customer Data Integration (CDI) solutions providing merge and match capabilities between systems to more modern platforms that govern consistent records and leverage inference analytics in to determine relationships between entities across systems within an enterprise. Depending on your business need, there are core capabilities one should consider when investing in an MDM platform. They include:

Key functions: What to look for in an MDM solution?
Capturing existing master data from two or more systems regardless of source and creating a single source of the truth for all systems to share. To do this right, you need seamless access to data regardless of source, format, system, and in real-time
Defining relationships based on “business rules” between entities. For example: “Household = Same last name, address, and account number.” These relationship definitions can be complex and can change over time therefore having the ability to create and modify those business rules by business users will help grow adoption and scalability across the enterprise
Governing consistency across systems by identifying changes to this common business information, determining whether it’s a unique, duplicate, or update to an existing record, and updating other systems that use and rely on that information. Similar to the first, you need the ability easily deliver and update dependent systems across the enterprise in real-time. Also, having a flexible and user friendly way of managing those master record rules and avoid heavy IT development is important to consider.

Now, what would my experience have been if my bank had capable Master Data Management solution in my bank? Let’s take a look:

Process Without MDM With MDM Benefit with MDM
Start a new mortgage application online Customer is required to fill out the usual information (name, address, employer, email, phone, existing accounts, etc.) The online banking system references the MDM solution which delivers the most recent master record of this customer based on existing data from the bank’s core banking system and brokerage systems and pre-populates the form with those details including information for their existing savings and credit card accounts with that bank.
  • Accelerate new customer on-boarding
  • Mitigating the risk of a competitor grabbing my attention to do business with them

 

New email address from customer Customer enters this on their mortgage application and gets entered into the bank’s loan origination system MDM recognizes that the email address is different from what exists in other systems, asks the customer to confirm changes.The master record is updated and shared across the banks’ other systems in real-time including the downstream data warehouse used by Marketing to drive cross sell campaigns.
  • Ensure every part of the bank shares the latest information about their customer
  • Avoids any disruptions with future communication of new products and offers to grow wallet share.

The banking industry continues to face headwinds from a revenue, risk, and regulatory standpoint. Traditional product-centric silos will not go away anytime soon and new CRM and client onboarding solutionsmay help with improving customer engagements and productivity within a firm however front office business applications are not designed to manage and share critical master data across your enterprise.  Anyhow, I decided to bank with another institution who I know has Master Data Management.   Are you ready for a new bank too?

For more information on Informatica’s Master Data Management:

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What is the Silver Lining in Cloud for Financial Services?

This was a great week of excitement and innovation here in San Francisco starting with the San Francisco Giants winning the National League Pennant for the 3rd time in 5 years on the same day Saleforce’s Dreamforce 2014 wrapped up their largest customer conference with over 140K+ attendees from all over the world talking about their new Customer Success Platform.

Salesforce has come a long way from their humble beginnings as the new kid on the cloud front for CRM. The integrated sales, marketing, support, collaboration, application, and analytics as part of the Salesforce Customer Success Platform exemplifies innovation and significant business value upside for various industries however I see it very promising for today’s financial services industry. However like any new business application, the value business gains from it are dependent in having the right data available for the business.

The reality is, SaaS adoption by financial institutions has not been as quick as other industries due to privacy concerns, regulations that govern what data can reside in public infrastructures, ability to customize to fit their business needs, cultural barriers within larger institutions that critical business applications must reside on-premise for control and management purposes, and the challenges of integrating data to and from existing systems with SaaS applications.  However, experts are optimistic that the industry may have turned the corner. Gartner (NYSE:IT) asserts more than 60 percent of banks worldwide will process the majority of their transactions in the cloud by 2016.  Let’s take a closer look at some of the challenges and what’s required to overcome these obstacles when adopting cloud solutions to power your business.

Challenge #1:  Integrating and sharing data between SaaS and on-premise must not be taken lightly

For most banks and insurance companies considering new SaaS based CRM, Marketing, and Support applications with solutions from Salesforce and others must consider the importance of migrating and sharing data between cloud and on-premise applications in their investment decisions.  Migrating existing customer, account, and transaction history data is often done by IT staff through the use of custom extracts, scripts, and manual data validations which can carry over invalid information from legacy systems making these new application investments useless in many cases.

For example, customer type descriptions from one or many existing systems may be correct in their respective databases however collapsing them into a common field in the target application seems easy to do. Unfortunately, these transformation rules can be complex and that complexity increases when dealing with tens if not hundreds of applications during the migration and synchronization phase. Having capable solutions to support the testing, development, quality management, validation, and delivery of existing data from old to new is not only good practice, but a proven way of avoiding costly workarounds and business pain in the future.

Challenge 2:  Managing and sharing a trusted source of shared business information across the enterprise.

As new SaaS applications are adopted, it is critical to understand how to best govern and synchronize common business information such as customer contact information (e.g. address, phone, email) across the enterprise. Most banks and insurance companies have multiple systems that create and update critical customer contact information, many of them which reside on-premise. For example, insurance customers who update contact information such as a phone number or email address while filing an insurance claim will often result in that claims specialist to enter/update only the claims system given the siloed nature of many traditional banking and insurance companies. This is the power of Master Data Management which is purposely designed to identify changes to master data including customer records in one or many systems, update the customer master record, and share that across other systems that house and require that update is essential for business continuity and success.

In conclusion, SaaS adoption will continue to grow in financial services and across other industries. The silver lining in the cloud is your data and the technology that supports the consumption and distribution of it across the enterprise. Banks and insurance companies investing in new SaaS solutions will operate in a hybrid environment made up of Cloud and core transaction systems that reside on-premise. Cloud adoption will continue to grow and to ensure investments yield value for businesses, it is important to invest in a capable and scalable data integration platform to integrate, govern, and share data in a hybrid eco-system. To learn more on how to deal with these challenges, click here and download a complimentary copy of the new “Salesforce Integration for Dummies”

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The Ones Not Screwing Up with Compliance Will Win

A few weeks ago, a regional US bank asked me to perform some compliance and use case analysis around fixing their data management situation.  This bank prides itself on customer service and SMB focus, while using large-bank product offerings.  However, they were about a decade behind the rest of most banks in modernizing their IT infrastructure to stay operationally on top of things.

compliance

Bank Efficiency Ratio per AUM (Assets under Management), bankregdata.com

This included technologies like ESB, BPM, CRM, etc.  They also were a sub-optimal user of EDW and analytics capabilities. Having said all this; there was a commitment to change things up, which is always a needed first step to any recovery program.

THE STAKEHOLDERS

As I conducted my interviews across various departments (list below) it became very apparent that they were not suffering from data poverty (see prior post) but from lack of accessibility and use of data.

  • Compliance
  • Vendor Management & Risk
  • Commercial and Consumer Depository products
  • Credit Risk
  • HR & Compensation
  • Retail
  • Private Banking
  • Finance
  • Customer Solutions

FRESH BREEZE

This lack of use occurred across the board.  The natural reaction was to throw more bodies and more Band-Aid marts at the problem.  Users also started to operate under the assumption that it will never get better.  They just resigned themselves to mediocrity.  When some new players came into the organization from various systemically critical banks, they shook things up.

Here is a list of use cases they want to tackle:

  • The proposition of real-time offers based on customer events as simple as investment banking products for unusually high inflow of cash into a deposit account.
  • The use of all mortgage application information to understand debt/equity ratio to make relevant offers.
  • The capture of true product and customer profitability across all lines of commercial and consumer products including trust, treasury management, deposits, private banking, loans, etc.
  • The agile evaluation, creation, testing and deployment of new terms on existing and products under development by shortening the product development life cycle.
  • The reduction of wealth management advisors’ time to research clients and prospects.
  • The reduction of unclaimed use tax, insurance premiums and leases being paid on consumables, real estate and requisitions due to the incorrect status and location of the equipment.  This originated from assets no longer owned, scrapped or moved to different department, etc.
  • The more efficient reconciliation between transactional systems and finance, which often uses multiple party IDs per contract change in accounts receivable, while the operating division uses one based on a contract and its addendums.  An example would be vendor payment consolidation, to create a true supplier-spend; and thus, taking advantage of volume discounts.
  • The proactive creation of central compliance footprint (AML, 314, Suspicious Activity, CTR, etc.) allowing for quicker turnaround and fewer audit instances from MRAs (matter requiring attention).

MONEY TO BE MADE – PEOPLE TO SEE

Adding these up came to about $31 to $49 million annually in cost savings, new revenue or increased productivity for this bank with $24 billion total assets.

So now that we know there is money to be made by fixing the data of this organization, how can we realistically roll this out in an organization with many competing IT needs?

The best way to go about this is to attach any kind of data management project to a larger, business-oriented project, like CRM or EDW.  Rather than wait for these to go live without good seed data, why not feed them with better data as a key work stream within their respective project plans?

To summarize my findings I want to quote three people I interviewed.  A lady, who recently had to struggle through an OCC audit told me she believes that the banks, which can remain compliant at the lowest cost will ultimately win the end game.  Here she meant particularly tier 2 and 3 size organizations.  A gentleman from commercial banking left this statement with me, “Knowing what I know now, I would not bank with us”.  The lady from earlier also said, “We engage in spreadsheet Kung Fu”, to bring data together.

Given all this, what would you suggest?  Have you worked with an organization like this? Did you encounter any similar or different use cases in financial services institutions?

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Major Financial Services Institution uses technology to improve your teller experience

Financial Services

Major Financial Services Institution uses technology to improve your teller experience

Like many American men, I judge my banking experience by the efficiency of my transaction time. However, my wife often still likes to go into the bank and see her favorite teller.

For her, banking is a bit more of a social experience. And every once in a while, my wife even drags into her bank as well.  But like many of my male counterparts, I still judge the quality of the experience by the operational efficiency of her teller. And the thing that I hate the most is when our experience at the bank is lengthened when the teller can’t do something and has to get the bank manager’s approval.

Now, a major financial institution has decided to make my life and even my wife’s life better. Using Informatica Rulepoint, they have come up with a way to improve teller operational efficiency and customer experience while actually decreasing operational business risks. Amazing!

How has this bank done this magic? They make use of the data that they have to create a better banking experience. They already capture historical transactions data and team member performance against each transaction in multiple databases. What they are doing now is using this information to make better decisions. With this information, this bank is able to create and update a risk assessment score for each team member at a branch location. And then by using Informatica Rulepoint, they have created approximately 100 rules that are able change teller’s authority based upon the new transaction, the teller’s transaction history, and the teller’s risk assessment score. This means that if my wife carefully picks the right teller, she is speed through the line without waiting for management approval.

So the message at this bank is the fastest teller is the best teller. To me this is really using data to improve  customer experience and allow for less time in a line. Maybe I should get this bank to talk next to my auto mechanic!

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Banking and Insurance Sessions at Informatica World 2014

Informatica World 2014Financial services is one of the most data-centric industries in the world.  Clean, connected, and secure data is critical to satisfy regulatory requirements, improve customer experience, grow revenue, avoid fines, and ultimately change the world of banking and insurance. Data management improvements have been made and several of the leading companies are empowered by Informatica.

Who are these companies and what are they doing with Informatica?

To find out more, register and attend Informatica World 2014, May 12-15 at the Cosmopolitan Hotel, in Las Vegas.

Fifteen of the top financial services companies will share their stories and success leveraging Informatica for their most critical business needs. These include:

Informatica World 2014 will have over 100 breakout sessions covering a wide range of topics for Line of Business Executives, IT decision makers, Architects, Developers, and Data Administrators. Our great keynote line up includes Informatica executives Sohaib Abbasi (Chief Executive Officer), Ivan Chong (Chief Strategy Officer), Marge Breya (Chief Marketing Officer) and Anil Chakravarthy (Chief Product Officer). Our series of speakers will share Informatica’s vision for this new data-centric world and explain innovations that will propel the concept of a data platform to an entirely new level.

Register today so you don’t miss out.

We look forward to seeing you in May!

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Customer Centric Financial Services

Customer Centric Finance eBookThe business of financial services is transforming before our eyes. Traditional banking and insurance products have become commoditized. As each day passes, consumers demand increasingly personalized products and services. Social and mobile channels continue to overthrow traditional communication methods. To survive and grow in this complex environment, financial institutions must do three things:

  1. Attract and retain the best customers
  2. Grow wallet share
  3. Deliver top-notch customer experience across all channels and touch points

The finance industry is traditionally either product centric or account centric. However, to succeed in the future, financial institutions must become customer centric. Becoming customer-centric requires changes to your people, process, technology, and culture. You must offer the right product or service to the right customer, at the right time, via the right channel. To achive this, you must ensure alignment between business and technology leaders. It will require targeted investments to grow the business, particularly the need to modernize legacy systems.

To become customer-centric, business executives are investing in Big Data and in legacy modernization initiatives. These investments are helping Marketing, Sales and Support organizations to:

  • Improve conversion rates on new marketing campaigns on cross-sell and up-sell activities
  • Measure customer sentiment on particular marketing and sales promotions or on the financial institution as a whole
  • Improve sales productivity ratios by targeting the right customers with the right product at the right time
  • Identify key indicators that determine and predict profitable and unprofitable customers
  • Deliver an omni-channel experience across all lines of business, devices, and locations

At Informatica, we want to help you succeed. We want you to maximize the value in these investments. For this reason, we’ve written a new eBook titled: “Potential Unlocked – Improving revenue and customer experience in financial services”. In the eBook, you will learn:

  • The role customer information plays in taking customer experience to the next level
  • Best practices for shifting account-centric operations to customer-centric operations
  • Common barriers and pitfalls to avoid
  • Key considerations and best practices for success
  • Strategies and experiences from best-in-class companies

Take a giant step toward Customer-Centricity: Download the eBook now.

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