The NEW Know How Blog

Banking Disrupted: Analytics is Transforming How Banks do Business

Posted by Atul Kumar on Mar 25, 2015 10:31:00 AM

According to a recent PricewaterhouseCoopers industry overview report, Retail Banking 2020: Evolution or Revolution, over half of senior retail banking executives believe non-traditional financial service providers are a threat to traditional banks. And, nearly all executives (90%) are in agreement that there are six key priorities for digital transformation success in 2020:

Topics: Banking Analytics

Financial Modeling – Shifting Away from Spreadsheets

Posted by Abhishek Ranjan on Mar 18, 2015 9:37:00 AM

As a financial analyst, my ultimate goal is insight, not numbers. I need my financial modeling to augment and expand my intuition. I need the information to give me a clearer understanding of the situation so I can make improved decisions. I need the content and the data to explain my assumptions, conclusions and implications. Transparency, flexibility and data integrity – these are vital components for my financial modeling.

The CIO and CMO Challenge: Aligning IT and Business to Make Better Business Decisions

Posted by Amit Gautam on Mar 13, 2015 8:00:00 AM

With the explosion of data and our ability to gather, store and analyze data, we have entered a new era of business decision-making. Enterprises are investing more of their time and dollars to analyzing data to gain actionable insights – who is my customer, how am I spending money on my suppliers, are my employees engaged and productive? And for the right reasons – according to McKinsey, companies that are data driven are 6% more productive and 5% more profitable than those who are not.

Multi-Channel Retail Strategies: What is an ounce of prevention worth to you?

Posted by Vinod Subramanyam on Mar 3, 2015 12:01:00 PM

Benjamin Franklin’s famous quote, “An ounce of prevention is worth a pound of cure” has relevance to so many things that is a wonder we don’t take it more seriously. In the retail industry, the heat of competition and pressure from an organization’s shareholders to continuously roll out new offers, features, applications, and experiences for customers forces us to often overlook the ‘prevention’ phase of planning.

How to Create a Remarkable UX in Enterprise Mobility? Start with the End in Mind…

Posted by Sahara Alexis on Feb 25, 2015 5:37:00 AM

One of the pervasive challenges with enterprise mobility is lack of adoption or lack of proper usage. The root cause usually has something to do with inadequate user experience (UX) planning.

Retail Banks: Customer Experience Trumps Price for Loyalty

Posted by Sandeep Devagiri on Feb 19, 2015 11:00:00 PM

Winning new customers is expensive and time consuming. Retail banks need to win the loyalty of their existing customers through meeting customers’ needs, providing superior service and delivering a customer experience that is seamless and intuitive.

How do the Best Performing CIOs Improve Value Creation with IT Automation?

Posted by Gagan Deep Jain on Feb 15, 2015 4:07:00 PM

Every CIO is measured by his ability to meet the challenge of delivering value at reduced cost. How can they enhance operational efficiency without compromising service, responsiveness or security?

Improve Targeted Promotion for Cross-Selling

Posted by Alankar Chandra on Feb 3, 2015 6:59:00 AM

There is no such thing as "one size fits all" when it comes to designing marketing offers for retail banking customers. Each customer is different. His and her needs are different. Over the years many banks have come to realize the differences in each customer and are now trying to be relevant in their marketing offers to customers. However, when we talk of a scale as large as 100K or a million customers, it is simply not possible to study and understand each customer's needs and preferences individually – it is time consuming and not cost effective.

How Banks Can Increase Customer Retention: 5 Key Steps for Better Engagement, Better Business Decisions

Posted by Anunay Gupta on Jan 27, 2015 9:00:00 PM

Banks are facing a hyper-competitive marketplace – competitors are just a click away, and consumers expect a superior customer experience. And if you are unable to keep your existing customers, then you’re losing out, not only through brand reputation, but also, your bottom line. Acquiring a new customer costs six to seven times more than keeping an existing customer.

Is Collaboration the Secret to Success for the Next Generation Utility Company?

Posted by Puneet Gupta on Jan 21, 2015 9:14:00 AM

In the utility industry, customers expect – actually they demand - uninterrupted service and perfect product delivery. The threshold of tolerance for “mistakes” or slow response is low; the audience is vocal, digitally savvy and socially empowered; and there are government and regulatory eyes watching at all times. Layer in the increasing complexity of connected physical devices and the accompanying crush of data they generate, and there is the potential for real business problems – unless you take a new view of the world.

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@Brillio Global