Sector-specific CRM solution from Point Information Systems delivers
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
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
"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
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
Phone: 0118 934 4007
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