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Fusion Analytics World Overview for_BFSI Industry

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Avoiding the influence of online spread of words is no longer possible in present day interconnected world. The capability of consumers to persuade business conduct and impact organization planning in unexpected and, sometimes, unsolicited ways has grown manifold particularly with respect to banks. One strong complaint from an irritated customer going viral can make matter worse and spiral into a full-fledged crisis in a period of few hours. In this scenario, realizing what customers think, feel and mention about your organization in real time is even more vital for banks.

Largely, banks need to radically improve customer experience. Technology is the backbone for this kind of effort and banking institutions need to commit to upgrading their existing and future IT systems. With use of technology, banks receive the information they require to make almost real time strategic business decisions and accordingly correspond with customers. Also, banks need to remain relevant and strengthen customer relations by coming up with innovative products and services that fosters growth.

Author: Kalyan Banga, Founder & Principal Analytics Consultant @Fusion Analytics World (http://fusionanalyticsworld.com)

Best Regards,
Kalyan Banga
Founder & Principal Analytics Consultant
Hello: +91-9433948532
Web: http://fusionanalyticsworld.com
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Fusion Analytics World Overview for_BFSI Industry

  1. 1. Kalyan Banga – Founder & Principal Analytics Consultant Social Media Intelligence for BFSI
  2. 2. Topics 1.Actionable Insights - Banking: Challenges & Opportunities 2.Sample Social Media Insights
  3. 3. Trigger elements A range of financial procedures, calculations and analysis involves complex processes, which needs the support from latest software Key trigger is to lower the complexity associated with various business functions. Handle the highly complex and diverse fund portfolios Create regular analysis and reports and also comply with the numerous rules and regulations put forward by Central Agency TRIGGER ELEMENTS Demand from the customers/investors is quite challenging and delivering them needs support from latest technologies
  4. 4. “Need Gap” for Banking Sector • A set of satisfied client • Customer relationship with instantaneous real time advice in order to build confidence • Update from all stake holders • Store client information in strict confidence and total safety • Constant connectivity Business Need Business Challenges • Inaccurate advice leads to tangible financial losses , in turn to erosion of client confidence •Connectivity downtimes •Data feed from accurate and multiple sources NEED FOR : •ONE STOP MANAGED SERVICE PROVIDER (MSP) •TRUSTWORTHY MECHANISM •STRATEGIC METHODS TO RETAIN CUSTOMERS AND INCREASE REVENUE The primary business focus : • Maximize top-line revenues • Service client needs While they have strong Tech team, they cannot fully manage some of it themselves; outsource it IT purchase is more ad-hoc in nature. Yet, major banks don’t hesitate to adopt requisite technology if it enables them achieve speed, accuracy, competitive edge & enhance biz performance in a competitive environment Technology Adoption Trend VALUE PROPOSITION FOR BANKERS
  5. 5. Financial Players: SAMPLE BANKING INDUSTRY INSIGHTS • Indirect Customer Feedback:
  6. 6. FUSION ANALYTICS WORLD LISTEN EFFECTIVELY Converts Unstructured Data into Banking Specific Categories Banking Brand Analysis Products Services Debit/ Credit Cards Prepaid/ Gift Cards Stocks & Securities Banking Loans Online Banking Deals & Offers Competitive Intelligence Banking Players Visa Wells Fargo American Express
  7. 7. CUSTOMERS ARE TALKING ABOUT YOU YOUR CUSTOMERSARETALKING ABOUTYOUR PRODUCTS & SERVICES → Watch competition and understand key conversation topics to take effective strategic decisions The chart highlights relative importance of each topic for both brands from the point of view of their customers. Interesting to note that HSBC and TD Bank on topic related to Fraudulent Activity while Master Card and ICICI Bank lead on conversation linked to Payments. Visa sees conversation surrounding Debit Cards, Payments, Deals and Offers
  8. 8. SENTIMENT ANALYSIS → Compare sentiment by products and services to identify areas for improvement The chart clearly indicates that Sberbank has the overall best sentiment balance followed neck and neck by Standard Chartered Bank and Bank of China. Visa with high volume and high negative sentiment indicates most of the conversations are not what their PR and Marketing teams would like to see. Insights like these help brands take immediate actions before things go out of control, especially by knowing the topics of discussion elaborated in the next section
  9. 9. COMPETITORS YOUR CUSTOMERSARECOMPARING YOU WITHYOURCOMPETITION → Get direct opinions from customers comparing you with your competitors Mortgage and Payments, Loans and Mortgage, Credit Checks and Loans, Online Banking and Loans, Credit Cards and Rewards were some of the top conversation topics discussed on the same mention around banks. Understanding relative proportions of discussion with the help of above visualizations can help marketers’ device appropriate promotions. For example understanding that discussions around Online Banking is 2 times more popular than Banking, discussions related to Mortgage are way more popular than Interest Rates etc., can help in leveraging appropriate topics for their next marketing campaign
  10. 10. Contact: http://fusionanalyticsworld.com info@fusionanalyticsworld.com +91-9433948532

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