Retail Financial Services in need of Customer Analytics overhaul in order to remain competitive |FC Business Intelligence

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In a recent survey conducted by FC Business Intelligence, 77% of retail finance professionals state that their organisation has changed significantly over the past 5 years to accommodate for improved data and analytics. FCBI has developed an industry forum to allow retail financial services companies to master customer analytics in order to uncover deeper insights in to the customer.

In a recent survey conducted by FC Business Intelligence, 77% of retail finance professionals state that their organisation has changed significantly over the past 5 years to accommodate for improved data and analytics. FCBI has developed an industry forum to allow retail financial services companies to master customer analytics in order to uncover deeper insights in to the customer.

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Building bridges towards the future of financial services using advanced analytics has been tough and comes at a significant price. Competition from a plethora of new technology companies and evolving customer expectations on acceptable services and channels for communication has magnified the pressure to perform in the short term.

For the retail financial services sector, which is steeped in tradition and legacy systems, adopting the latest changes to meet with tech-savvy industry rivals and shifting customer demands is challenging to say the least.

Speaking at the meeting, Alberto Adorini the Founder and Chief Executive Officer at Pay Leven commented in a recent interview with FCBI that “Analytics is changing the way we do business and will continue to stay at the centre for years. The challenge that many will have is that the bigger you are, the harder it is going to be to get what you need out of it.”

Bringing together a range of leading retail financial services companies including banks, building societies, insurers, credit card companies, mobile payments and peer-to-peer lenders, the gathering will discuss a range of issues from how to strategically deploy analytics throughout the organisation. It will also focus on how to use customer insights to determine customer value and product profitability in order to execute the best marketing plans across various customer touch points.

Chris Skinner the Chairman of the Financial Services Club and an industry guru is part of the Advisory Board is a fellow speaker at the forum, he explains that the biggest challenge is in “getting the management to commit [to analytics changes]”. He also feels that the most important topics for discussion are around what the future holds, fundamentally being “data leverage for the internet of things”.

The event has already lined-up a dynamic group of attendees including eBay, Virgin Money, Direct Line, Lloyds, Twitter, Toyota Financial Services, Kuwait Participation Bank, Barclays, Raiffeisen Bank, Swiss RE, Swedbank, LV=, Sberbank, AIG, Nationwide Building Society, the AA, the Cooperative Bank, 1st Central Insurance, Yorkshire Building Society, Beobank, and Bupa.

Joining forces, speakers, delegates and the leadership team will dig deep in to how revolutionary data, analytics and insights is overhauling customer relationship management in the retail financial services sector providing an opportunity to learn practical skills and gain strategic advice that is not to be missed.

About FC Business Intelligence:

FC Business Intelligence has been around for over 20 years and provides news, reports and events services across 30+ industry verticals. Our Financial Services Analytics department has now run several different events including a US and UK version Banking and Insurance Analytics events which have been extremely well received across the banking sector.

Brittany Marshall, Head of Marketing, Financial Services Division, FC Business Intelligence
W: http://www.customer-analytics-in-finance.com | T: +44 (0) 207 422 4369 | E: bmarshall(at)fc-bi(dot)com

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