ipl-logo

The Banking Industry: A Case Study

1104 Words5 Pages

Financial institutions of today have entered the digital age. There are numerous factors promoting that push, such as improving sales and conducting more focused marketing. In fact, according to Accenture, digital technologies have more potential to transform the financial services industry than almost any other industry. Research carried out by Avaloq also found that banking and wealth management professionals see the implementation of a digital strategy as their top business priority.

A major pull of adopting analytics in banking and financial institutions would be the agility in making customer-centric decisions. By being customer-centric, financial institutions can maintain their market share, attain measurable financial gains from increased …show more content…

Through digital analytics, banks can quickly identify and resolve any problems that prevent customers from successfully interacting with their digital properties. Apart from refining their web and mobile presence and enabling customers to complete their transactions flawlessly, banks can also value-add to the customer experience via analytics tools that allow them to gain real-time visibility into customer behaviour on their sites. These insights can open up opportunities for new services that can better address customer …show more content…

All these ultimately sustain profitability and customer satisfaction over the long term. Thus, it is becoming increasingly clear that financial institutions must leverage on analytics to compete in a consumer-empowered economy. Why? Because decision-making becomes more powerful the moment it is infused with analytics. Whether it is launching a new customer product or handling risk management, one thing is for sure: analytics can be a game-changer across the financial services industry. The new wave of analytics is evolving quickly, and only those financial institutions who embrace it will be positioned to win over

Show More
Related

  • Essay On Triwest Healthcare Alliance

    1695 Words  | 7 Pages

    Triwest Healthcare Alliance must stay on the top of the game in the analytics, otherwise its competitors may take over the market and the business. That is why, the management has hired top of line consulting company to help in studying and the quality and management of its core business. The company’s position within the pillars of analytics competition are the support of strategic, distinctive capability, and the senior management commitment to success. Triwest Healthcare Alliance has enacted a strategic and distinctive capability to make sure that the quality of calls and paperwork is to highest standard.

    Read More

  • The Controversy Of The Bank War

    411 Words  | 2 Pages

    The banking controversy of the 1830’s became known as The Bank War. It was a campaign started by Andrew Jackson in 1833 to destroy the Second Bank of the United States. He believed that his opposition to the bank had won him national support during his reelection campaign. The Second Bank had been created in 1816 as a successor to the First Bank, whose charter had previously expired. The Second Bank was chartered only for a term of twenty years due to the concerns of many people in Congress.

    Read More

  • Talithia Williams Speech Analysis

    68 Words  | 1 Pages

    Mathematics is a necessary skill that we have to possess in our daily lives. Including statistical knowledge, mathematics can not only help us solve simple calculations, but also changes conversations and encourage the disruptive innovation in the 21st century. In this essay, a speech, performed by Talithia Williams in the main building of UTSA, which is aimed to use big data to change the world, will be discussed.

    Read More

  • The Organizational Structure Of Bank Of America

    850 Words  | 4 Pages

    Organizational Structure Bank of America is an American financial services corporation and is the second largest bank holding organization by assets, in the United States. The headquarter of the financial organization is situated in Charlotte, North Carolina. The bank has approximately 5,700 retail banking offices and 17,250 ATMs in the United States. The online banking system of the bank has more than 30 million active users.

    Read More

  • Bank Of America Mobile Banking Case Study

    1764 Words  | 8 Pages

    Bank of America: Mobile Banking This essay is based on the case “Bank of America: Mobile Banking” which is dated on May 2012. We will first present benefits mobile banking provide to consumers and highlight reasons why many consumers haven’t adopted mobile banking yet. Furthermore, we will look into Bank of America motivation to offer mobile banking to its customers and review associated costs and risks of mobile banking implementation. Then understand what lessons can the bank learn from its online banking operations and analyze costs and benefits of having customers migrate to online banking.

    Read More

  • Case Study Wells Fargo

    476 Words  | 2 Pages

    Wells Fargo’s “Gutless Leadership” Wells Fargo is one of the largest banks in the United States, with “…more than 8,600 locations [and] 13,000 ATMs” (Wells Fargo Today). Millions of Americans trust them with their finances. However, after a federal investigation, Wells Fargo has admitted to opening up to two million accounts without customers’ permission. While this had financial implications for many customers, this scandal most heavily affected Wells Fargo’s low-level employees.

    Read More

  • Ba 670 Week 7 Business Analytics

    1088 Words  | 5 Pages

    Business analytics is used by companies to convert collected information into practical data that is usable for optimizing performance (Griffin, 2010). It includes almost all data analysis activities a company conducts. “Business analytics includes predictive analytics and modeling, performance management, business intelligence (BI) and data management” (Griffin, 2010). The foundation of business analytics is statistical data which is used to determine or predict possible outcomes (Galleto, 2017). These potential outcomes are then used to make smarter business decisions and to plan strategy moves (Galleto, 2017) Benefits of Business Analytics Molly Galetto, of NG Data identifies some of the benefits a company can receive from implementing business analytics in its decision-making process.

    Read More

  • Dermal Filler Marketing Strategy

    714 Words  | 3 Pages

    Digital marketing isn’t simple as many people think. There are numerous cases of these strategies failing for some service providers. Studies reveal that digital strategies fail for some people because they do it for themselves or hiring a young and inexperienced computer marketing Companies. Experienced agencies have experience handling numerous tasks. Additionally, they have hired experienced technicians.

    Read More

  • Wells Fargo: Organizational Strategy And Objectives

    850 Words  | 4 Pages

    Organizational Strategy and Objectives The foundation of Wells Fargo’s strategy is its focus on customers. The company’s strategy tends to drive the choices they make and also enable them to prioritize its efforts, differential from peers, and build a lasting value for customers, employees, communities, and shareholders. The diversified business model tends to provide the company with the stability and the strength as it assures communities and customers that it exists to serve them and also the future generations. The objectives of the company are to be the leader in financial services in areas of team member engagement, customer services and advice, shareholder value, innovation, corporate citizenship, and risk management (Wells Fargo n.d).

    Read More

  • Barclays Competitive Advantage

    1910 Words  | 8 Pages

    Partnerships will also make it easier to link Barclay’s customers across the world without creating a major presence in a geographical area. Though technology gives a firm a competitive advantage, it can also be a put-off to some clients. Barclays’ products in a way are sophisticated. To attract more customers, it should simplify its products to allow customers from all divide to enjoy them.

    Read More

  • Impact Of Digital Marketing And Online Brand Alliance

    1949 Words  | 8 Pages

    TCii (2011) describes the importance of digital marketing that as the world is moving from analogue towards digital, people are consuming more and more digital content on a daily basis just as increased usage of mobiles, computers at works laptops and other gadgets-the companies who have yet not recognized this in their marketing strategies need to adopt it fast. The pace at which world is focusing on digital marketing it is possible that soon it will eliminate the traditional forms of

    Read More

  • Customer Relationship Management Practices In The Airline Industry

    810 Words  | 4 Pages

    Customer relationship management practices are strategies that companies use to achieve and analyze customer’s data and interactions throughout their life, with the goal of improving business relationships with customers, gain customer loyalty and help in the sales growth. Customer relationship Management systems are designed to collect information on customers across different networks through the company's website, telephone, live chat, and E-mailing, marketing and social media. Customer relationship management systems can also give all the detailed information on their personal information, purchase history, buying preferences and help them with their inquiries. Their general goals are to find, attract, and win new customers, develop and

    Read More

  • The Digital Marketing Strategy: Starbucks And Digital Marketing Strategies

    1667 Words  | 7 Pages

    Most people today, own one at least one technological device which could be one of the access platforms that form online channels the company may apply for their digital marketing to achieve profitability and retention of customers. Chaffey and Ellis-Chadwick (2012)  state that a digital marketing strategy is constantly needed to provide a sense of direction for an organization’s online marketing activities so that they integrate with its other marketing activities and support its overall business goals. According to Parise et al.

    Read More

  • Advantages Of Marketing Communication Mix

    3247 Words  | 13 Pages

    2. Introduction Defining an effective Marketing Communication Plan and Communication Mix through a well researched strategy will not only help to reach out to potential customers, but it will also help to adapt and respond to the ever changing marketing environment. This report starts by examining the various promotional tools used by marketers in the marketing of their products and services, including the advantages and disadvantages of the tools. The report goes on to examine the meaning of Integrated Marketing Communication (“IMC”) and the importance of measuring the effectiveness of the Promotional Campaign.

    Read More

  • Disadvantages Of Digital Business

    1600 Words  | 7 Pages

    The aim of this report was to research and understand what exactly digital means, the importance of the digital world to companies today and how they use it to the best of their ability for the positive performance of their business. Through our research of academic and peer reviewed articles and journals we learn how digital space can provide a world of opportunities to organisations as we focus in on the hospitality industry and the hotels who make the most of the digital platforms available. We are aware that many companies are rushing to become digital in order to reap the awards of these opportunities, but we look at how they surge to be effective or in some cases fail and see a decline in their digital popularity scale. North, 2014 discusses how consumers have little or no loyalty to brands and are willing to move from one digital platform to another as technology changes. Yvonne – Introduction (600) Aoife – Conclusion & Part A (800) Nadia – Referencing & Formatting & Part B (300) John – Technology Paragraph.

    Read More

More about The Banking Industry: A Case Study

Open Document