Many financial institutions are on a mission to become more consumer-centric. But how well do you really know your consumers? What services and products attract them most? Knowing this, how can you then leverage data to identify their needs and gain wallet share?
Business data analytics and insights are no longer a luxury, but a necessity in a world where fintech startups are starting to steal wallet share away from banks and credit unions.
For many banks and credit unions, data remains an underused and underappreciated asset. The ability to use quantitative data to shape business decisions and outcomes has become a key source of competitive advantage as consumers demand more qualified information and expect more personalized experiences. It is critical for financial institutions to be able to segment clients based on needs, channel propensity and potential value.
Data analytics and insights is rising to the top of banks’ and credit unions’ priority lists; According to the Financial Brand’s 2016 State of Financial Marketing, “National and regional banks have the desire to improve analytics capabilities as their third highest “top three” priority (47%).”
Business analytics and insights software helps you gain insight into the profitability of customers, branches and products and deliver services that your consumers will value most.
Fusion Analytics is a tool that gathers and aggregates your consumers’ current relationships, behaviors and lifestyle attributes to help you see more clearly where opportunities for growth and profitability lie.