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Retail Banking:

Deliver the optimal combination of products and prices to ensure continued profitability, customer retention and lifetime value.

Retail banking today faces some very challenging revenue trends and customer behavior patterns. Products are more commoditized, customers are more sophisticated through ubiquitous access to competitive information and the revenue mix is constantly shifting. The competitive landscape has changed through consolidation and scale. All the while, the retail banking imperative remains the same; present the optimal combination of products and prices to ensure continued profitability, customer retention and lifetime value. A new economy, same objective, requires a shift.

The answer lies in an understanding of customer behavior in relation to product and pricing decisions. With that understanding modeled and predictable, it is then possible to optimize the business decisions available to your retail banking organization. In other words, what is the best price or rate for every customer segment to meet profitability and volume targets, while maintaining credit quality goals? Price optimization enables retail banking organizations to turn customer insight into competitive advantage.

The principals at Response Analytics have been pioneering optimization for almost a decade and have developed an enterprise platform that solves a variety of retail banking business issues using optimization:

  • Deposit Pricing Optimization - optimize the deposit rates based on your customer data to maximize retention and deposit levels

  • Consumer Lending Rate Optimization- optimize the rates for consumer loans (HEL, HELOC,…) in order to drive incremental profitability and volume

  • NSF Fee Optimization - optimize the fees, timing and frequency for NSF fee decisions in order to maximize customer retention and profitability. Learn more about NSF Fee Optimization.

In every business solution for retail banking, the same enterprise software platform is used based on best-in-class software capabilities to import and manage data, develop and store models, produce actionable optimized business recommendations and present meaningful business intelligence from which to manage the business! Learn more about Enterprise Modeling & Analytics Platform.