The emergence of the office of the CFO as a new “buyer” of reconciliation technology was highlighted by all of the institutions and vendors that TowerGroup surveyed. In turn, the influence of financial and product control officers contributes to a stronger focus on financial control, transparency, and risk management and is elevating the profile of the reconciliation function above the purely operational concerns of settlement and client reporting. Read More »
Posts from September 2011
What are the important near term technology decisions being made by bank Global Transaction Services (GTS) businesses around the globe? In our global survey of decision makers at transaction banking businesses in financial services institutions, it’s clear that the vast majority are continuing to invest in this segment of commercial banking. 94% of those surveyed indicated that GTS technology investment would maintain or increase. Read More »
Winning customer contact centers can reduce customer effort through proactive outreach. Understanding the customer life cycle permits representatives to reach out before an insurance event, like a bill or a claim, generates an angry in-bound call. Reducing call times has traditionally been the standard measurement for contact centers. But leaders in the space understand that first-call resolution is the new gold-standard. Successful service time with customers creates value in a positive brand experience. Read More »
Webinar: September 29, 2011, 11:00-11:30 AM (New York)
Obtaining accurate information for the underwriting and servicing of insurance policies is an age-old challenge. With the rise of third party information providers, some of the challenges have been overcome. However, many insurers become complacent and continue with information sets that are not updated and refreshed. Aggressively keeping on top of the growing third party information arena is imperative particularly as important new data sets emerge.
The recession and the enactment of the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (the CARD Act) were a one-two punch. Taking the bank card industry from years of profitability to a loss in 2009 and also threatening long-term profitability. To return to profitability, credit card issuers have changed course — limiting their new credit card offers to the most credit worthy consumers, reducing operating expenses and redesigning their credit card products. Read More »
Misalignment is costly. Spending on maintenance consumes as much as 75% of IT budgets. This includes supporting older, non-profitable lines of business and archaic internal functions – money that could be focused on new projects for new revenue. But misalignment also impacts new projects. The inability to properly size a new investment can result in project overruns and higher operating costs. Finally, as regulators require you to capitalize operations, misalignment of business and IT will result in new costs. Read More »
Our recent survey of high net worth clients shows that 80% are not shopping for a new firm. Although this finding bodes well for wealth managers’ client retention rates, unfortunately most clients are also less likely to increase planning services and to increase investments with their existing firm. With wealth management firms budgeting double-digit increase in assets under management, the ability of advisors to engage clients is critical to growth.
Our upcoming 30 minute webinar on three strategies to overcome client inertia through improved advisor effectiveness including:
Our research indicates there are a wide variety of communication channel preferences among high-net-worth clients, and assets aren’t the only way to segment. When a competitor engages your client via their preferred communication, they won’t automatically switch, but it will make their decision to leave much easier. Results from our High-Net-Worth Client Experience Survey can help you better understand how to better communicate with your clients in the manner and medium they prefer, while also outlining the technology implications for your business. The study highlights: Read More »
As banks realize this, more are investing in sentiment monitoring tools that scan the web to analyze overall mood and feelings toward the bank’s products and policies. This is a good first step but the benefits are all for the bank. You get to listen, but customers have no idea if you’ve heard them and they certainly don’t know if you’re doing anything about it. Read More »
A clash of pent up demand and stricter underwriting standards is driving the industry as we come out of the recent lending crisis. Increased trade-ins will produce a different blend of originations the next 18 – 24 months. Origination guidelines will affect the overall outstanding balances of portfolios as old loans season and new originations catch up.
Read the full Auto Lending Forecast for the United States (2010–2015) to understand more about: Read More »