Financial Services Industry Overview
Strong profits in a wide variety of investment markets and continued macroeconomic growth have benefited operators in the financial services industry over the past five years. Despite the financial crisis, leading consumer financial services providers are focusing on offering reliable and affordable financial services to meet the growing consumer demands.
Still, various factors are hindering the growth of the financial sector. These factors include:
- Meeting the rising demand for customer services: With the rising demand for reliable and affordable services, leading financial services providers are facing pressures to deliver agility in the services rendered.
- Cost reduction and efficiency: The increasing competition in the financial services industry is compelling companies to offer reliable solutions at fair prices.
- Digitization: In this technology-driven environment, leading financial services providers are finding it challenging to stay consistent owing to the relentless competition.
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Why Devise Channel Optimization?
Channel optimization is the most significant area that directly influences an organization’s profitability. It helps firms in striking the balance between satisfying customer preferences and lowering costs to serve each customer segment. To sustain in the market, organizations will have to establish a multichannel strategy; whereby, a prospect begins his journey in one channel, travels to another, and finally moves to a third to make a purchase. Channel optimization plays a key role in building a multichannel strategy, which significantly helps in sounder business decisions.
About the Client
The client is a leading financial service provider based out of the US. The company offers investment advice and wealth management services to individual investors, across the globe.
Continue reading to know how Quantzig’s channel optimization strategy helped the financial services company or request a FREE proposal.
The company was facing difficulties in designing collaborative channels and promoting multi-channel engagements. As a result, they wanted to recognize the channel usage pattern and formulate robust channel optimization strategies to maintain optimal performance at all customer touchpoints. Furthermore, the client wanted to understand the newest industry trends and anticipate future customer behavior.
With the help of Quantzig’s channel optimization solution, the financial service provider made use of social media platforms to reach out to the consumers and offered enhanced, effective, and seamless experience to the customers. The financial industry client gained a better knowledge of diverse customer segments and identified opportunities to enhance workforce interaction. This further helped the financial services provider decrease wait times and cater to the demands of the customers more efficiently. Moreover, the solutions helped the firm to efficiently keep track of the consumers in terms of their channel usage and behavior.
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With over 15+ years of experience, Quantzig has been assisting financial services and other industry clients across the globe with end-to-end data modeling capabilities to leverage analytics solutions for sound decision making. We believe that the strength to tackle the actionable data is what drives a business towards success.