How many of your customers are flirting with competitors by moving their deposits or opening credit elsewhere?
A recent headline from the popular financial services industry publication, The Financial Brand, “Memo to Bankers: Your Customers Are Cheating on You”, insightfully states “Even though your customers haven’t closed their account, they might be well beyond flirting with your rivals. What’s your plan to revive the relationship?” According to the article, this is happening at an increasing rate.
So, what is your FI’s plan to “revive customer relationships”? How can IFM help your financial institution gain clarity on this issue?
Understand The Changes In Customer’s Finances Through Data
IFM offers solutions to help your financial institution (FI) understand the changes in your customers’ financial situation.
- Identify your customers who have initiated new relationships with a competing bank or investment firm before deposits are moved out
- Identify your customers using your financial institution as an intermediary with other competing financial institutions by maintaining low deposit balances and high outflows
- Identify your customers with degrading primacy profiles
The solutions at Insight Financial Marketing (IFM) are market tested and can help your institution identify customer relationships to revive. Understanding when your customers have moments in their lives that matter, and that require key financial decisions to be made, can help your institution revive the relationship by presenting financial insights, product information, and rate offers that are timely and relevant to the customer.
IFM Helps Financial Institutions With Behavioral Analysis & Event Detection
To find out more about our strategy and the tools IFM can deploy to help your institution revive your customer relationships, contact Rob Reale directly at firstname.lastname@example.org or communicate with us via our website at www.infimark.com.
Rob Reale is an Associate Partner and National Sales Manager responsible for business development and sales at Insight Financial Marketing. Rob began working in the Mortgage Banking industry in 1990 and currently helps the financial service industry leverage unique and innovative solutions.