Fincentric Launches
Customer Intelligence Solution
New York, NY, September 23, 2002
– Fincentric Corporation, a leading global provider of enterprise
wealth management and core banking software, today unveiled its
new fully integrated, turn-key i-Wealthview Customer Intelligence(tm)
system, designed specifically for financial institutions. Mike Cardiff,
president & CEO of Fincentric Corporation, and leading experts
on wealth management, presented the solution during a launch event
held today at the Waldorf Astoria in New York. Cardiff and the Fincentric
team introduced the newest method for financial institutions to
better understand and predict customer needs, deploy prompt actionable
treatment strategies, and turn customer intelligence into revenue
generating activities.
Wealthview Customer Intelligence is an enterprise-wide
decision support system that provides a 'dashboard' display of a
customer's key value metrics such as profitability, potential profitability,
share of wallet, householding and segmentation, and identifies cross-selling
opportunities.
i-Wealthview Customer Intelligence delivers channel
and function-defined customer intelligence to ensure that advisors,
asset managers, loan officers, marketing and service representatives
have the most appropriate and complete information to service their
customers. An early adoption of the solution is currently being
implemented at a leading community bank in the Pacific Northwest.
"Today we've introduced a new way of effectively
consolidating disparate customer data at the enterprise level and
turning it into immediate actionable revenue generating activities
that maximize share of wallet and customer retention," Cardiff
said.
The solution enhances the Customer Value Managemen™t
capabilities of Fincentric's wealth management system. This now
encompasses Customer Intelligence supported through a back-office
Customer Infrastructure that provides a consolidated view of the
customer's assets and liabilities, both inside and outside of the
home institution. This information is presented through an enterprise
customer information file (eCIF). The third component, Customer
Interaction allows CSRs, loans officers and advisors to provide
products and services, as well as financial planning and advice
to customers based on relevant customer intelligence. Key applications
of i-Wealthview Customer Intelligence for institutions include the
following:
- Profitability analysis - to accurately measure
the profitability of individual customers based on their complete
relationship with the institution
- Potential profitability - to estimate the potential
profitability of the customer by analyzing their existing mix
of financial products
- Share of wallet analysis - to assess the type,
value and portion of the financial products held by the institution
versus those held outside of the institution
- Householding analysis - to view individual
customers in the context of the household they belong to and their
position within it, focuses on families, children and life-stages
- Segmentation and treatment strategies - the
ability to query, browse, and report on customer groups at the
market segment, household, and customer levels
- Cross-selling opportunities - new opportunities
are identified and prioritized based upon Customer Intelligence
and are delivered to channel-and function-defined front line staff
(CSR, advisors, loans officers, etc.)
Dennis Ceru, Director, Retail Brokerage & Investment TowerGroup
also shared his perspectives on how customer intelligence fits into
today's business strategies for targeting the mass affluent segment.
"Attracting and retaining highly desirable clients and increasing
share-of-wallet for the firm is now and will continue to be a top-of-mind
priority for forward-looking institutions and their relationship
managers," Ceru said.
"This is an integrated component of the i-Wealthview
Wealth Management System and greatly enhances its Customer Value
Management capabilities," Cardiff said. "It enables converged
financial institutions to transform from being product silo'ed to
being truly customer-centric."
About Fincentric
Fincentric Corporation is a leading global provider of
enterprise wealth management and core banking software. Fincentric's
i-Wealthview™ wealth management software products include
'next generation' core banking, Customer Value Management™,
data aggregation, Internet and wireless financial portals and full
multi-channel support. Its revolutionary Customer Value Management™
capabilities provide profitability and relationship analysis that
allow financial institutions to recognize the value of each customer,
and maximize their profitability. Fincentric products enable financial
institutions to quickly deploy solutions for their converging financial
service offerings, while also supporting capabilities for increasing
customer profitability, customer acquisition, and retention. Fincentric
has approximately 300 customers worldwide, and has strategic relationships
with Microsoft, Compaq, and other international partners. For more
information call (604) 278-6470.
Fincentric, i-Wealthview, i-Wealthview Banking and
Customer Value Management (CVM) are trademarks of Fincentric Corporation.
Media Contacts:
Fincentric Corporation:
Shella Evangelista
Media & Analyst Communications Manager
Fincentric Corporation
Tel: (604) 214-5710
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