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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 Amdocs’ operational Product Catalog and dynamic pricing engine, gives banks the needed flexibility to build and change pricing and product bundles to develop and sustain a personalized approach for customers. Dynamic Pricing and Profitability Management from SAS and Amdocs 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 cost and improve overall operational agility.
SAS and Amdocs offer a suite of solutions to identify and deliver the economic incentives to consumers that help profitably drive customer loyalty and increase wallet share. Included in this offering are the following components:
- SAS Banking Intelligence
Architecture streamlines profitability modeling with transactional integration.
- Amdocs Product Catalog optimizes revenue generation by providing a highly flexible, single, optimized repository for defining banking offerings across multiple lines of business, with advanced bundling, discounting and promotion mechanisms.
- Amdocs
Fee Manager provides automated, standardized extracts, customer behavior
and associated revenue fees to design profitability calculations and customer
valuation scoring.
- SAS Analytics analyzes
and optimizes product management and pricing decisions.
- SAS Profitability
Management assesses profitability performance and other customer metrics
from the past and present, and forecasts the future using out-of-the-box analytics.
- SAS Customer Intelligence tracks
customer usage and behavior to implement product bundles and dynamic pricing
in a low-risk, phased approach.
- SAS Enterprise Intelligence
Platform optimally integrates 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 delivers new insights that drive value for your organization.
The most important consumer driver – price – cannot be leveraged profitably without a clear view of customers, products and regional/branch profitability.
- 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 only permissible data is used and by providing a transparent environment to consumers.
Together, SAS and Amdocs enable financial institutions to track and analyze valuable customer data and dynamically present the resulting intelligence through operational systems. This paves the way for an approach of decision-centric business intelligence for dynamic banking and relationship pricing.
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Industries
Aerospace
