Retail Banks Missing Opportunities Focusing On Products Vs Customers

SAS and the Peppers & Rogers Group have announced the results of a research study "Measuring Customer Value in Retail Banking".

"Many retail banks have yet to realize the full potential of integrating customer value metrics into their business models," said Jeff Gilleland, financial services strategist at SAS. "While banks have a good understanding of a customer's value across multiple products, they have yet to link this insight to 'customer potential' and then implement coordinated customer development plans across products and channels. Competitive advantage lies in a bank's ability to integrate customer knowledge, which only that bank has about the customer, and then to act on that knowledge in ways that create intimacy with the customers that matter most."

A white paper on the findings of the study is available online.