Infotech Lead America: Oracle has unveiled Oracle Financial Services Analytical Applications for Customer Insight that enables financial services to gain better view of customer relationships across finance, risk management and marketing.
The solution is designed to help financial institutions address customer data challenges by unifying customer views, supporting improvements in data consistency and timeliness, connecting business processes with analytical insight and, linking customer behavior to its impact on the institution.
The Oracle solution for financial services industry includes four key applications:
First, Oracle Financial Services Retail Performance enables managers to conduct enterprise-wide performance analysis across strategic customer segments, products, and lines of business with comprehensive metrics such as fee income, interest, expenses and credit costs.
Second, Oracle Financial Services Retail Customer Analytics helps financial institutions to identify actionable customer trends across key focus areas and build, execute and optimize highly targeted marketing campaigns using pre-built cross-sell/up-sell scores, as well as channel and product propensity scores.
Third, Oracle Financial Services Channel Analytics enables managers to monitor and analyze operational metrics for each channel, including ATMs, branches and internet banking, to understand channel usage propensities and customer demographics across channels.
Fourth, Oracle Financial Services Institutional Performance is designed to empower financial institutions to monitor and manage corporate bank customer relationships and performance while tracking sales activity in relation to overall organizational performance.
“Financial services organizations seek unprecedented levels of customer insight, understanding that it is the key to growth and profitability in today’s environment. Many organizations, however, continue to struggle with achieving a complete view of the customer relationship,” said S Ramakrishnan, group vice president and general manager, Oracle Financial Services Analytical Applications.
“Oracle Financial Services Analytical Applications for Customer Insight breaks down historical silos and provides powerful pre-built analytics, dashboards and reports to enable a 360-degree view of customers across risk, finance and marketing — helping to drive strategic insight, more productive marketing and a higher level of customer engagement,” Ramakrishnan added.