Data in financial institutions is often of poor quality, inconsistent or stored in disparate databases. This can be due to mergers and acquisitions or inconsistent business processes across different units. The problem is that your firm may be in peril if your data is incomplete, inaccurate and unavailable when you need it. Without quality information at your fingertips, you cannot make timely, well-informed decisions to capitalize on new revenue opportunities, comply with regulations, pinpoint unforeseen risks or address new competitive threats.
Loyalty is key, as evidenced by the fact that approximately 65% of new product sales are won by customers’ primary bank.
Only 48% of consumers got home mortgages and financial advice and 47% opened registered retirement accounts or sought investment services from their primary bank in a 12-month period, which indicates that cross-selling opportunities exist.
Trillium enables you to rapidly improve the quality of data across your organization and create a unified view of customers that you can trust: