Transcription of Finally: Customer Analytics for Banks - Deloitte
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Finally: Customer Analytics for Banks - Deloitte
Finally: Customer Analytics for Banks That 360-degree view of the Customer you ve been talking about? Now Analytics brings it within reach for Banks . How well do you know your customers? Ask that question of leaders at most Banks , and they ll likely answer pretty well, thanks. But is that enough? Not these days at least not for Banks looking to stay a step ahead of the competition. Customer behavior and preferences are changing at a more rapid clip than at any moment in recent history propelled by changes in technology and the economic environment. Banks that have built their organizations with a product-oriented focus ( if we build it, they will come ) should consider shifting to a more Customer -centric footing in order to stay competitive. One way to effectively make that transition is to cultivate the seemingly mythical 360-degree view of the Customer one that accounts for their current value as well as their potential lifetime value .
• Customer lifetime value: Has the bank estimated the lifetime value of a customer over a defined time period and the relative importance of factors driving value (e.g., balances, products, attrition, risk)? • New account fraud likelihood: Has the bank estimated the likelihood that a new account is based on fraudulent information?
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