Oracle Financial Services Customer Analytics helps retail banking institutions ensure that marketing dollars are invested wisely and the customers with the most potential to be profitable are targeted through the correct channels.
The Financial Services Retail Customer Analytics Applications brings business institutions the best of breed capabilities to proactively manage the Financial Crime, Compliance, Risk, Treasury, Finance and the Front Office.
The Oracle Financial Services Customer Analytics applications are built upon a commonly available analytical infrastructure consisting of a unified financial services data model, analytical computations, a Metadata driven “R” modeling platform, and the industry-leading Oracle Business Intelligence platform. A single, combined data model and the infrastructure provides one version of the analytical truth to business users throughout the entire enterprise.
This enables the financial services institutions to confidently manage performance, governance, risk and compliance. Shared data, metadata, computations and the business rules enable institutions to meet emerging business and regulatory requirements with reduced expenses and the unified platform helps financial institutions to leverage existing investments.
Oracle Financial Services Customer Analytics Capabilities
- Drive Marketing Efficiency and Optimization
With Oracle Financial Services Customer Analytics, marketers can leverage list scoring and customer segmentation to present relevant products to the customer at the right time and through the right channel.
Thus the retail bank is driving marketing efficiency and the optimization through relevant and customized communications using a fully automated, extensive set of dashboards and reports to track performance across multiple dimensions and channels.
Oracle Financial Services Retail Customer Analytics gives the retail banking institutions the ability to track marketing campaign success and provide senior management with actionable and timely reports. Sales Funnel Analysis also provides insight into the progression of conversion of the campaign targets.
- Monitor and Track Campaign Profitability
With Oracle Financial Services Customer Analytics, marketers have insights into campaign performance metrics including responses, and Retail Customer Analytics distribution across the target segments. With the marketing campaigns, it is imperative to understand the effectiveness of strategic channels including bank branches, on-line, and phone.
Traditional channels are not as effective as they have been in the past and investments need to be optimized through a detailed analysis of effectiveness, ensuring success with new campaigns and channels. Oracle Financial Services Retail Customer Analytics gives the marketing teams the ability to achieve an optimal return on investments through an understanding of sustained financial impacts over time.
- Enhance Customer Engagement Across Key Products
Oracle Financial Services Retail Customer Analytics helps in managing customer engagement with in-depth analysis of various customer segments, risk bands, CPA’s, and channel performance. Customer retention is increased throughout by leveraging pre-built attrition scores to help Line of Business managers to understand at-risk segments, and the best plan in engaging target segments.
In addition, use of machine learning within the application not only allows the financial institutions to predict product propensity and attrition more accurately but also helps optimize customer experience for marketing personalisation and engaging them with relevant offer recommendations following an event occurrence.
- Understand the customer trends across key focus areas such as sales, balances, and engagement
- Optimize campaigns with metrics including the responses, opt-outs, and customer distribution across target segments
- Make use of sophisticated predictive models enhanced with Big Data that utilize the customer web behavior for analysis
- Ensure targeted marketing with pre-built cross-sell/up-sell scores along with channel and product propensity scores
- Utilize real time offer recommendation functionality based on the transaction behavior
- Optimize the investments through detailed channel analysis including bank branches, on-line, phone
- Monitor the campaign profitability across customer segments and channels with campaign performance tracking
- Get insight into understanding the target customer wants and needs
- Enable successful and informed marketing decisions with the ability to plan, manage, and track the marketing investments
- Enhance the wallet-share through better cross-sell targeting and increased customer engagement
- Big Data ready predictive models utilizing machine learning techniques
- Drive marketing efficiency and the optimization through customized communications and real time next best offers
Locus IT has worked with Financial Services Industries and helped them to improve and implement on their Financial Services. If you have any questions about how Financial Services can address and solve your challenges, please reach out to us. We’ll be happy to consult with you.