Sad to say most banks today have done little value-added work in the analytics field in the last 5 years. A lot of the drag has been regulation-driven...the zeal driving regulators to beef up capital allocation methodologies to comply wiht the BASEL II accord, anti money laundering capabilities to comply with anti-terrorism legislation and "enhancements" to reporting initiated to comply with governance and compliance legislation have cost a fortune.... and yet we came close to having the bank system collapse, terrorists are working as shrinks in the US army and investors - the larget of which is now the US taxpayer - still don't have a clue about the viabiilty or performance of the banking system.
Unfortunately all this wasted effort has drained resources away from the supremely high-ROI activity we call customer analytics. Insights into customer behaviour and profitability ofer possibilities to increase efficiency by 10-30% and improve customer experience and satisfaction at the same time.
The time has come to protect the business of banking by invest in productive activities like customer analytics and other forms of business intelligence. Does the industry have the sense to do this ?
See our blog at the Bank Administration Institute for more ...
http://tinyurl.com/BIblog
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Dave McNab
Banking analytics...starving the golden goose
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