Since the banking collapse of 2008 and the banks reputation taking a severe mauling new players have emerged onto the market that have gathered a lot of "customer fans", these customers now share their recommendations of their new bank.
This "new wave" are now more willing to share their details with their chosen bank as they feel they will get a lot in return from their new providers.
Traditional banks are slow to respond to these and other challenges because of:
- Inflexible legacy systems which are expensive to manage
- Banking regulation
- Cut backs on IT budgets
- Organisational structures
- Historically weak communication with customers
Monetising all the data that banks currently possess but which they are not able to collate and decipher quickly and cost effectively, into useful data that could be used to improve segmentation and optimise revenues while meeting with all regulatory compliance issues and ensuring customer data is protected.
These are the challenges that can be addressed by looking at Portus Test
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