How finance companies should be using data

By Anna Sophie Gross May 2, 2017

Financial services’ existing data and analytics efforts have predominantly been in the areas of understanding market trends (70%), forecasting demand (55%), and increasing portfolio performance (49%), followed by a variety of initiatives aimed at improving the customer experience and regulatory compliance.

According to a recent Forrester report, intentions for the next 12 months reflect the increasing threats to financial institutions from criminals on one hand and challenges from financial technology (fintech) startups as well as major players from outside the banking industry on the other.

Investments in all of the areas mentioned above are continuing. It is interesting to note that almost half want to move to a more real-time way of doing business.

Few financial services firms are currently leveraging data and analytics to automate digital interactions with chatbots (15%), for example, but 38% have expressed their intention of doing so in the next 12 months.

It is interesting to note that just under half of key stakeholders in the financial sector plan to use technology to provide advanced sales and promotion management and simplify and accelerate customer onboarding, satisfaction and loyalty.

There are also a high percentage of people (43%) who are looking to drive real-time contextual, targeted marketing across channels.

Fielo is perfectly suited to helping financial institutions with these key aims. It is ideal for incentivizing agents, advisors and vendors to track and store data on deals, leads and opportunities.

Fielo’s tailor-designed programs can also collect data on customer satisfaction and loyalty, as well as the extent to which agents are using contextual, targeted marketing materials.

Collecting, storing and analysing this data helps you, as stakeholders, reward and incentivize revenue-driving behaviors from your sellers which boost customer loyalty and increase sales.


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