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Advances in analytics are finally bringing the promise of ‘know-the-customer’ segmentation to fruition.
Recent industry changes make it imperative for banks to update their customer profitability models.
An uncertain economic and regulatory environment gives financial institutions even more incentive to use data-driven analytics to guide their decision making.
To improve both collections efforts and customer service, banks should integrate the two functions.
Customer segmentation can drive value for online as well as offline customers.
With CRM, banks should start small, with discrete customer segments and their best salespeople, then learn from the results