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Globally, banks are facing immense challenges in the post turmoil phase. One of the most widespread challenges is higher than normal churn rate in consumer banking. Because of consolidation, wave acquisitions are now inevitable and post acquisition challenges are manifold in maintaining consistent experience for customers. With the breakdown of the banking machinery among few large banks last year, the regulatory compliance around customer acquisition process has dramatically tightened. Banks on one hand are grappling with new revenue generation by increasing deposits and on the other cost optimization in retention and acquisition of customers. Identifying the right customers through intelligent profiling beyond demographic and psychographic factors has become paramount for better risk management.
Wipro Customer Acquisition Management Solution (CAM) offers transformation of sales and service functions that will deliver:
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Lower Acquisition Cost |
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Dynamically Managed Risk |
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Better Regulatory Compliance |
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Faster Results, leading to Improved Lifetime Value |
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ROI within a year* |
The top three challenges that it addresses for banks across retail banking and private banking are:
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How to achieve higher rate of customer retention |
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How to achieve better wallet share at an optimum cost |
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How to maximize the relationship lifespan with the worthy customers for better ROI |
With advanced Customer Profiling, Process Intelligence, Nextgen Predictive Analytics, Guided Needs Assessment and Decision Support Tools, CAM brings a fresh approach to acquiring new customers without losing the wisdom of keeping the right ones!
Wipro has partnered with IBM software for business process orchestration and customer data integration.
Please write to us at ice.bfs@wipro.com for scheduling a demo.
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