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Consumers want simpler, more personalized digital experiences, to reassure them they are making the right financial decisions; at exactly the right time. While every financial institution has much of the data it already needs to help their clients, most are not leveraging even a fraction of the right data to make a difference in improving customer journeys and relationship building.
Leaders are starving for access to better insights, trends and visualized data to drive their decisions, measure performance and reshape strategies.
Digital transformation is one of the top priorities for financial institutions across the country today. And yet 75% of transformations have failed. Why?
Moving towards effective Next-Gen Analytics is not about technology or data alone: it requires a clear focus on prioritizing your member’s needs, lifestyles and experiences: solving the “Last Mile.”
- Dave Doss, former CEO of $2.3 billion-dollar OneAZ Credit Union in Phoenix, Arizona offered this recommendation to other FI leaders trying to determine whether to build or outsource their analytics capabilities based on his three-year digital transformation journey: “I would seek an outsourced option that is built and fully operational. This significantly reduces risk and allows organizations to employ and realize benefits more expeditiously. This route also reduces ‘opportunity costs’ relative to what other strategies or strategic initiatives suffer while tackling this complex project.”
Read how your organization’s growth goals, data systems, and your culture – aligned behind customer insights and foundational analytics-driven strategies – can make the difference between rapid positive performance results, or the slow, costly cycle of digital transformation failure.