Of this there should be no question Financial services is intricate work. The quants are just riding the waves.
Neither at the macro nor at the micro economy is there a dearth of demand for or supply of finance, money and cash. In the financial business to know your customer is to know, in real time, his high sea of relationships and events at those related parties.
To exploit the energy and depth of the high seas, day or night, all one needs is an understanding of water, and earth. Not to be too far out but an additional understanding of the moon and the sun was never harmful – certainly not in the days past nor most definitely in the present age of insured spacecraft! Now all of this of course used to be easier said than done, for millennia, until big data came along. Practically speaking, it is fast big data that we are sloshing about.
The traditional regulators of customer engagement such as assets, liabilities and cash flows help manage an economy that waves cash and money, in your face. Our economy, developed and developing, has long left those shores. It sails on finance and trust today. The economy cannot afford any but those financial businesses that can ply and fish the high seas.
A spacious 360 degree view is neither desirable nor practical today. A timely view is needed instead. Most relationships and events that impact the customer’s finances are unpredictable today. The smart financial business readies itself with the capability and capacity to decide and execute on data flowing in. The customer’s view becomes our view. By the same token our views become the customers’ views. These are big time data matters.
How do we respond to events such as these:
- A cloud burst brings the customer’s supply trucks to a dead halt on the mountain highway and the customer can avoid losses if she could use the skies within the next two hours would you rather she deal with you or the insurer?
- The employee has been eyeing the Renault for some months now and gets a pay hike today; are you able to send him a Renault tomorrow?
- How do we educate each of our customers to think, of us and of them, in real and unreal times?
We need views that extend deep into the relationships, events and data streams, happening in our customer’s and our life, for profitable engagements.
A Hadoop, a twitter stream, an Oracle Engineered System and a mobile app for the senior bankers at the Educational Loans division is a viable start!
About CRMIT Solutions:
CRMIT Solution is the Oracle specialized partner for financial services, which means Oracle recognizes CRMIT Solutions for Expertise in Providing Exceptional Business Solutions within the Financial Services Industry.
CRMIT’s Cloud CRM based financial solutions are comprehensive solutions for 360 degree customer view, deal management, mortgage expansion, detecting risk, and enhancing customer relationships.
CRMIT Solutions have worked on end-to-end Cloud CRM solutions designed to specifically address the unique requirements of financial institutions including corporate banking, retail and wealth management. The solution, which has been implemented at financial institutions, is enabling those institutions to reduce risk, increase customer acquisition, improve customer service, develop and manage more effective marketing programs, enhance sales productivity throughout the consumer sales cycle and provide better management insight.
“We are very proud to have achieved Specialization for Financial Services and this can help to enhance our already long-term and successful relationship with Oracle. This accreditation is a testimony to our in-depth knowledge and expertise in Financial Services which has indeed supported our clients achieve improved financial performance and customer satisfaction across various channels” said K V Padmanabha Rao, Regional Director, CRMIT Solutions.
We are committed to provide customers with the best service in the industry. Everything we do – every order, every delivery, every service, every offering – centers on the satisfaction of our customers, and making them more efficient at what they do.