Solutions: Retail Banking
Grow customers and account value with customer-focused conversations

Acquisition

Acquisition, On-Boarding

Improve conversion rates

• Define marketing and new customer acquisition strategies that are the most likely to receive positive response from targeted prospects. Visually simulate acquisition strategies to understand customer behavior and the impact on revenue, profits, risk behavior and other business metrics.
• Leverage inbound interactions for acquisition. Throughout the customer conversation, real-time decisioning continues to deliver dynamic recommendations based on the customer’s intent, responses and behavior for personalized offers that turn inbound interactions into acquisition opportunities.
• Optimize acquisition and marketing strategies across channels. Deploy a centralized strategy for all retail banking channels, including contact centers, branches, ATMs, IVR and the Web for consistent, intelligent conversations across every inbound and outbound channel. Enable offers and actions to be started and completed with efficiency and accuracy in the customer’s channel of choice.

Lower acquisition costs

• Maximize the conversations your customers initiate. Reduce the number of outbound campaigns with dismal response rates and overhaul fixed or static offers using predictive analytics and adaptive decisioning to match the right customer with the right product. Precisely target prospects with compelling "segment of one" value propositions.
• Streamline complex on-boarding. Dynamically guide representatives in real-time through the process of setting up accounts, including recommendations for product bundles best suited to the customer.

Respond instantly to market conditions

• Maximize the success rates of in-progress campaigns. Measure, simulate, adapt and change acquisition strategies to refocus or terminate campaigns and offers in real-time – all without needing the assistance of IT.
• Roll out new retail banking products and services faster. Simulate planned strategies with business friendly tools to determine the impact on customers and the company. Adjust, change and then immediately deploy programs to all channels without IT assistance.

Retention

Retention, Cross-Selling, Up-Selling

Increase wallet share

• Drive more revenue per customer. Leverage real-time analytics and decisioning to determine a customer's propensity to accept cross-sell and up-sell offers during the conversation.
• Eliminate static "offers-of-the-week". Provide representatives with Next Best Action prompts as the conversation unfolds.
• Engage in more proactive customer retention. Predict individual customer expectations and propensities via analytic models and combine them with real-time decisioning to identify those customers likely to defect.

Retain at the right cost

• Optimize sales propositions with personalized business cases. Uncover which customers to retain and what products or services will be most effective through predictive and adaptive analytics.
• Don't "give away the bank". Balance your staff's flexibility to work out the right deal while enforcing corporate guidelines and prudent budget targets. Guide representatives through conversations designed to retain the customer at a cost beneficial to the business.
• Gain more insight and flexibility. See how your retention strategies are working and adapt quickly to changing customer behavior, competitive offers and economic conditions. Enable immediate modifications without coding or IT assistance.

Customer Service

Account Management, Customer Service

Drive incremental sales through service interactions

• Help service representatives deliver relevant and timely offers. Leverage dynamic guidance and recommendations based on customer profile, behavior, responses and history to increase sales during inbound customer service interactions.
• Increase the percent of inbound interactions receiving offers. Proactively triggering personalized offers that eliminate dependence on staff expertise helps representatives feel comfortable delivering a timely and personalized offer more frequently.

Deliver a superior customer experience

• Empower your representatives with a unified desktop. Provide a complete, up-to-date view of every customer and situation that eliminates the need for them to tab through multiple screens and search for data in multiple systems.
• Improve the consistency of every interaction. Automate service processes and dynamically guide representatives through Next Best Action conversations to achieve the best possible outcome for the customer and your bank.

Reduce time and costs for service

• Optimize contact center operations. Manage the amount of time spent on each customer, increase first-contact resolution and reduce average handle time. Continuously monitor and control conversations to balance customer expectations with business objectives.
• Increase call deflection with personalized self-service. Provide online customers with greater information access, transparency and self-management capabilities through adaptive analytics, real-time decisioning and a universal customer view.

Risk and Compliance

Risk and Compliance

Reduce risk

• Effectively implement risk-based pricing. Take advantage of the unified customer view, adaptive analytics and real-time decisioning to appropriately balance risk and sales offers as the customer conversation unfolds.
• Improve portfolio risk management. Monitor customer behavior in real-time to identify changes in risk profiles and dynamically adjust actions and offers.

Adhere to privacy regulations

• Increase compliance and consistency. Guide representatives through customer interactions, and incorporate company-specific rules into automated processes to meet risk and compliance requirements.
• Maintain a complete interaction audit trail. Automatically capture all conversations across every channel for a unified, up-to-date view of each customer's interactions.
• Appropriately restrict access. Provide a limited view of customer data to representatives that is appropriate to their roles.