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As banking products become more and more commoditized, it becomes harder for banks to differentiate themselves in the market amid increased competition and decreasing loyalty. Despite the best efforts to understand customer value and potential, banks spend resources targeting customers who are profitable today and alienate those who will be profitable later.
Banks need a better understanding of what financial incentives they can offer that will create more value and incentives for loyalty and still allow them to remain profitable. A comprehensive view of the customer as part of a continuum, managed over time and across contact channels and products, helps sustain market differentiation and increases overall profitability.
SAS® Banking Intelligence Architecture for analytics, combined with SAS Profitability Management, gives banks the needed flexibility to build and change pricing and product bundles to develop and sustain a personalized approach for customers. SAS for Dynamic Pricing and Profitability Management enables banks to adopt customer-focused product and pricing management, which results in longer, more profitable customer engagements, as well as process improvements that reduce costs and improve overall operational agility.
How SAS Can Help
SAS offers a suite of solutions for identifying and delivering the economic incentives that help drive profitable customer loyalty and increase wallet share. The following components are included:
- SAS Banking Intelligence
Architecture for streamlining profitability modeling with transactional integration.
- SAS Analytics for analyzing and optimizing product management and pricing decisions.
- SAS Profitability
Management for assessing profitability performance and other customer metrics
from the past and present, and forecasting the future using out-of-the-box analytics.
- SAS Customer Intelligence for tracking
customer usage and behavior to implement product bundles and dynamic pricing
in a low-risk, phased approach.
- SAS Enterprise Intelligence
Platform for optimally integrating individual technology components within your
existing IT infrastructure into a single, unified system, resulting in an information
flow that transcends organizational silos, diverse computing platforms and
niche tools – and delivering new insights that drive value for your organization.
How SAS is Different
The most important consumer driver – price – cannot be leveraged profitably without a clear view of customers, products and regional/branch profitability. With SAS you can:
- Improve customer loyalty and retention on an individual basis through price and value, across product silos.
- Expedite time to market with a purpose-driven solution that provides shorter lead times from product concept to operational execution.
- Attract new business using analytics to identify the most attractive bundles for new customers.
- Maintain regulatory compliance by ensuring that only permissible data is used and by providing a transparent environment to consumers.
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Industries
Aerospace