OPPapers.com

Crm In Banking

Customer Relationship Management in Banking
Key Challenges Facing Banking Executives

A SAS White Paper

Table of Contents
Executive Summary ....................................................................................................... 1 Introduction .................................................................................................................... 2 Customer Relationship Management in Banking ....................................................... 4 Six Business Imperatives for a Successful CRM Strategy........................................ 5 Create a Customer-Focused Organization and Infrastructure ..................................... 5 Gain an Accurate Picture of Your Customer Categories ............................................. 5 Accurately Assess the Lifetime Value of Your Customers........................................... 5 Maximize the Profitability of Each Customer Relationship........................................... 6 Understand How to Attract and Keep Your Best Customers ....................................... 6 Maximize Rate of Return on Marketing Campaigns..................................................... 7 The Implications of These Six Imperatives ................................................................. 7 Establish a Data Architecture that Supports a Single View of the Customer............... 8 Implement Analytics that Support Customer Segmentation and Profiling ................... 9 Implement Modules to Analyze and Predict Risk and Profitability ............................. 10 Implement Modules that Maximize Cross-Sell and Up-Sell Initiatives ....................... 11 Implement Customer Retention Modules in Your DSS .............................................. 11 Implement an Integrated Campaign Management System........................................ 12 Summary....................................................................................................................... 13

The...