Channel Profiling/Use Case Study

Situation

The management of a regional bank was alarmed at declining branch activity and did not understand customer’s channel adaptation of non-branch channels, the value customers placed on each channel and the cost of a conventional delivery network in a rapidly changing user base.

downward chart icon
research comparison icon2

Analysis

To address the bank’s concerns we performed a detailed merging of customer/household files with channel transaction files over the past 24 months to reveal the evolution of the customers’ channel usage. We uncovered channel use preferences and direction for an array of financial transactions and interactions.  We also did further competitive environment comparisons of channel functionality and services contrasted with customer channel use movement.

Analysis

To address the bank’s concerns we performed a detailed merging of customer/household files with channel transaction files over the past 24 months to reveal the evolution of the customers’ channel usage. We uncovered channel use preferences and direction for an array of financial transactions and interactions.  We also did further competitive environment comparisons of channel functionality and services contrasted with customer channel use movement.

research comparison icon2

Insights

Through our analysis we:

  • Contrasted current delivery network operating expenses versus projections of operating expenses given customer channel evolution and expectations.
  • Delivered a non-branch channel strategy, concentrating on competitive functionality and services (particularly for younger, replacement customers) and business customers.
  • Created a branch transformation strategy, including a technology strategy and plan for continuous measurement of customer channel use.
upwrd chart icon

Ready to take your business to the next level?

Get in touch with us today.