Executives of full-service consumer banks know the difficulty of focusing resources on acquiring new money and curbing attrition of balances. Internal competition for balances among product and geographic silos within a financial institution diverts resources from actions that grow your deposit and loan portfolios. Cannibalization also introduces false positives when targeting growth and attrition prospects. The solution to these problems is performance metrics that separate new and lost money from money moving between business unit, branch and product silos across all financial services products within the bank and its affiliates.
Internal flows mask key performance results by mixing new money sales with product substitution and lost money with product cannibalization. Distorted analysis of customer behavior results in excess contact cost, inappropriate customer contact, employee frustration, diminished customer satisfaction and ultimately lost business.
FlowTracker is a repeatable process that derives and classifies flow of funds information from account balances precisely and efficiently, with a minimum of set up and maintenance cost. We have assembled an optimal business solution consisting of a proprietary analysis method, platform independent software, business rules that are readily customized to work with your data and the banking business expertise to solve the problems of inter-silo competition and false positive targets efficiently.