Upcoming event
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New and smarter ways to market
Overview
Financial services customers are using more and more channels – such as call centres, online banking etc. This trend looks permanent, but must be managed carefully and efficiently, as the cost of using more channels continues to grow. This year’s Efma Congress will therefore look at the latest developments and the potential advantages of an integrated multichannel strategy. Topics covered will include:
• Smarter processes
A ‘smarter knowledge’ bank will employ advanced technology and better processes that make optimum use of customer information. This includes the use of the most effective and cost-effective communication channels, as well as revolutionising the exchange of information between their systems. Currently, large banks hold information in different systems which often don’t interconnect well.
• New strategies
Banks need to develop new multichannel strategies that are effective, responsive and convenient. This may involve moving clients to lower cost channels. Although many customers already use new channels for transactions, these channels should now be used for product sales as well, to improve their Return on Investment.
• Enhanced experiences
Ultimately, financial institutions need to provide a better, integrated, real-time customer experience. This may mean using different channels for different processes to give a seamless, streamlined experience overall. This is a long term issue which will involve the introduction of changes over several years.
Key issues
In light of these needs, the conference will discuss issues such as:
• Improving existing channels
Existing channels can be made more effective by better communication, better usage and better customer advice models.
• Extracting maximum value from cross-channel usage
There are several ways of ensuring that cross-channel usage brings the best possible rewards. These include improved customer intelligence; sophisticated business performance analyses; and technology that turns interconnectivity into a reality.
• Reducing the costs involved
Banks need to find ways of cutting costs whilst delivering higher customer service levels and increased sales. This will involve new approaches to pricing, communication, marketing and service propositions.
- REPORT
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The Congress will be the occasion for presenting the results of the following reports:
• "Innovation in multichannel management", the latest Efma Retail Banking Advisory Council findings with the support of Microsoft;
• "Retail banking trends 2009", a report by Roland Berger Strategy Consultants and Efma with the endorsement of Nordea;
• "Innovation in retail banking", a study by Efma with the support of Infosys.
- PARTNERS
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