The client: A leading banking sector player
Area of engagement: Salesforce analytics
The global banking sector is highly fragmented and includes segments such as retail, corporate, and investment banking and asset and wealth management firms. The retail banking segment has registered significant growth recently and has the potential to grow at a rapid pace in the coming years. Europe dominates the global banking industry and accounts for approximately 43% of the total market share. Leading firms in the banking sector are also looking beyond compliance to optimize their businesses and improve financial performance, despite the current economic uncertainty.
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The Business Challenge
The client, a renowned banking sector client with offices spread across the Americas, was facing predicaments in maximizing their revenue potential. As a result, the client wanted to build predictive models to assess customer attrition levels. Additionally, the client wanted to leverage the use of salesforce analytics to identify opportunities to optimize costs across the BFSI space in the Americas. The client also wanted to improve the quality and deliver better banking sector products and services.
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The Solution Benefits and the Business Impact
Quantzig’s salesforce analytics solution helped the baking sector client to refine their business models and shorten the time-to-market for the services rendered. This helped the client to improve customer retention and promote brand loyalty. Additionally, the client was able to deal with the rising competition in the market and effectively profile the profitable customers and their requirements.
To know more about how our salesforce analytics solutions helped the banking firm to identify the impact of the latest BFSI trends, request for more information from our experts.
Sales Force Analytics Predictive Insights
With the help of Quantzig’s salesforce analytics, companies can measure the performance of the workforce on a timely basis. Companies can leverage Quantzig’s salesforce analytics solution to improve sales training and create value. Companies can also better understand the customers and make quick data-driven actions.
Our analysis of the BFSI industry shows that banking sector players are facing challenges in terms of:
- Consumer expectations: Today, it is all about the customer experience, and many banking sector players are feeling the pressure as they are not delivering the level of service that consumers are demanding, especially with regards to technology.
- Increasing competition from financial technology companies: The increasing popularity of FinTech companies is disrupting the way traditional banking has been done. This creates a challenge for conventional banking sector clients as they are not able to adapt quickly to the changes – not just in terms of technology, but also in culture, operations, and other facets of the industry.