Top4Customer360UseCasesforBanks

1

Thestatusquoisn’tgoodenoughanymore

88% of customer data is ignored

6% drop in cross-sell rate for banking customers in the last two years

57% win rate for traditional banks cross-selling loan products

67% of customer churn is due to only 1 bad experience

2

AnewapproachtoCustomer360willpayoff

$5BIn banking cross sell

revenue with a 5% win rate improvement at the

top 25 banks

80% Of churned banking customers

said they would have been retained if the issue was resolved on the first call

3

Informationisfragmentedacrossmanysystemsandmustbesynthesizedtocreateacustomerprofile

4

Core banking system

On line banking

Demographics Branch interactions

Credit card processing

Service center

RelationshipsSocial profiles

5

Sentiment

Life events Churn, risk, & value

Personality

Influencers

Alerts

Inferred demographics

Customer journey

Proximity & location events

Insightscanbederived toturnacustomerprofileintoanintelligentCustomer360

HavinganintelligentCustomer360willimpacteverystepofthecustomerlifecycle

Acquire new prospects and customers

Improve the Customer Experience

Expand the Customer Relationship

Retain the Right Customers

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7

1

Acquire

• Micro-segmentation of high potential prospects for anchor products such as checking accounts and mortgages

• Build targeted campaigns based on banking transaction, life events and interactions

• Anonymous prospect identification for abandoned quotes

• Prospect journey mapping and optimization from digital to branch service transactions

8

Improve

• Customer survey feedback analytics to understand root cause of NPS detractors and passives

• Target NPS “Passives” with personalized offers and service to improve them to “Promoters”

• Identify and eliminate friction points such as unexplained fee increases

• Personalize the digital to physical omni-channel experience

• Detect fraud by identifying relationships and suspicious activity

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3

Expand

• Self-service data access and discovery for marketers

• Customer journey mapping from branch to digital banking

• Intelligent product recommendations based on customer needs analysis

• Micro-targeted cross-sell and up-sell campaigns for profitable additional product such as credit cards and loans

• Identification of high net worth individuals

10

Retain

• Discover indicators of relationship decline such as being locked out of online banking

• Churn indicators and retention actions derived from banking transactions and service interactions

• Customer journey optimization from online to branch

• Personalize customer service by prompting tellers and CSRs with actionable customer intelligence

• Manage the retention/renewal journey

4

UseaCustomer360togaintruebusinessvalue

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ü Customer segmentation for more targeted marketing campaigns and personalized offers

ü Greater share of wallet due to more effective cross/up-sell campaigns

ü Better customer service resulting in reduced churn/increased loyalty

NextSteps

• Assessment• …

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Learnmore:www.allsight.com/banks-and-cim