SINGLE VIEW REVEALS ROUTE TO PROFIT FOR BANKS Thursday 7 June 2001 PDF Print Sector-specific CRM solution from Point Information Systems delivers fast ROI Today's banking customers expect to do business on their own terms, when, where and how they please. They also expect to have simultaneous, single view access to all their accounts during just one telephone call or Web site visit. With the launch today of e-point Financial Services - a sector-specific customer relationship management (CRM) system - banks and other retail financial service organisations can now move into integrated and secure on-line, wireless and electronic customer service swiftly and simply. Banks can proactively identify sales opportunities when talking to customers through immediate access to a pre-configured complementary product line. For example a motor loan application can trigger a relevant and timely cross-sell or up-sell such as motor insurance or payment protection. e-point Financial Services also makes it possible to limit customer attrition by forecasting defections: automatic alarm signals are triggered immediately by unusual or large withdrawals, giving the bank time to prevent the possible loss of a customer. And, when a customer's business has been lost, the effectiveness of a bank's claw-back strategy can be enhanced by the system's ability to profile and target competitor business. Another unique feature of e-point Financial Services is its ability to make particular delivery channels a part of product or service offerings, which can then be priced accordingly. The result is that every customer gets a seamless, cost-effective service no matter which way they choose to do business - whether via contact centres, branches, intermediaries, the Web, e-mail, WAP phones or mobile text messaging. At the same time banks make significant cost-savings through the product's ability to segment and respond appropriately to different levels of customer value. e-point Financial Services is already winning praise from analysts. Nick Hewson of the Hewson Group says: "Judging from conversations with banks, this product is exactly what the sector has been waiting for. It meets the majority of their e-CRM needs, and I would expect its unique facilities for empowering cross-selling activities, tackling attrition and winning back lost customers to prove particularly attractive. "Banks will also welcome the fact that the product is built on a sound financial knowledge base. Point is to be congratulated on the vision and thought-leadership it has demonstrated with the development of e-point Financial Services." Also important are the product's ease and speed of implementation. In contrast to most other CRM systems used by companies in the banking sector, e-point Financial Services integrates applied CRM processes to support common banking processes like bill payments, transfers, balance enquiries and statement requests. It is also designed to open up the banking enterprise by supporting banking industry standard OFX message codes. Security procedures and policies are maintained by links to banks' security infrastructures such as PIN and encryption schemes, and e-point Financial Services also supports X.509 digital certificates. Point's director of financial services, Jonathan Clarke, has no doubts about the importance of effective, personalised Customer Relationship Management to a bank's profitability, or about e-point Financial Services' ability to deliver it. "The new product's ability to deliver vastly enhanced cross- and up-selling power, to control and minimise attrition, and give new muscle to customer claw-back activities will make a huge difference to banking efficiency and profitability. "Just as importantly, customers will welcome the personal, single-view banking experience that e-point Financial Services gives them. It allows every customer to have a service tailored to their individual needs - and the ability to do that in real time is what differentiates a bank that learns and cares about its customers from one that simply regards them as a name and number on an account. It's how profitable lifetime customer relationships are built." Notes to editors Founded in 1989, Point Information Systems is a leading global provider of e-CRM solutions. Point's advanced product suite, e-point, uniquely enables companies and their partners to interact with their customers and prospects across any stage of the customer lifecycle and over any assisted or unassisted channel via any interaction media. Its broad marketing and sales functionality includes customer acquisition, retention and up/cross selling. It also helps companies get their products to market faster. Deployed in 19 languages in 36 countries, Point's products are used by mid-to-large sized organisations and multinational companies, including Allianz Group, Brann, BUPA, Commonwealth Bank of Australia, Dah Sing Bank, Deutsche Bank, Liberty Mutual, Maybank, MetLife, Newton Fund Managers, Overseas Union Bank, Verizon Communications, Virgin Mobile, and many others worldwide. Point has offices in the US, the UK and rest of Europe and the Asia Pacific Region. For more information: Beverley Mayle, Point Phone: 01753 748037 Email: email@example.com Web: http://www.pointinfo.com Geoff Twibell Sage Partnership Phone: 0118 934 4007 Email: firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of The Sage Partnership in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.