Siperian, a provider of a multi-domain master data management (MDM) platform, today announced the availability of its Extended Customer View Solution for financial services companies. The company’s latest solution offers a flexible and scalable approach that enables financial services companies to operationalise customer centricity while increasing business agility and speed.
Siperian’s Extended Customer View presents financial advisors and service delivery personnel with previously unavailable views of family, business and employee relationships. By allowing easy access to these information assets, financial service firms can deliver relevant cross-sell and up-sell offers and provide more tailored loyalty building service.
Financial services executives have always recognised the benefits of adopting a customer-centric approach. Yet, existing account-centric systems and disparate data silos prevent them from “operationalising” customer centricity to drive customer loyalty, revenue, profit and competitive differentiation. The root cause of this issue is the data – in particular – the lack of visibility and access to consolidated and connected customer data across the institution. As a result, financial advisors and service delivery personnel spend the majority of their time searching for and manually reconciling data from multiple systems and disparate data silos across the enterprise.
“Most approaches to operationalising customer centricity in point-to-point integration environments fail to meet expectations. Costs increase exponentially when IT needs to create customised retrieval of customer and product data from each data source,” commented Bill Bradway, managing director, Bradway Research. “This problem is magnified when data is duplicated among numerous disparate applications, systems and data sources. As a result of the associated cost and complexity, many financial institutions are prevented from pursuing and capitalising on the growth opportunities of successfully operationalising customer centricity.”