Featured Case Study
ABN AMRO Global Banking Group: Delivering Highly Personalized Letters
Group 1’s DOC1® solution helps ABN AMRO create an infrastructure to quickly and flexibly generate and control its document output.
Challenges & Opportunities
Competing in an Era of Market and Technology-Driven Change
Deregulation. Personal information technologies. The worldwide web. In today’s world, consumers have the power to take control of their personal finances and shop for service in an increasingly competitive marketplace. Established banks and a new breed of integrated retail financial conglomerates have responded by offering a profusion of traditional and new financial services.
At the same time, consolidation from a wave of mergers and acquisitions has delivered powerful economies of scale — effectively driving costs out of basic services and enabling large providers to extend their reach globally. These technology- and market-driven dynamics are testing banks and other providers of retail financial services as never before:
- With retail customers demanding easier access to an array of ever more sophisticated financial products, banks need to manage complex data sets for individual customer accounts.
- New investment instruments, mortgages, lines of credit, small-business loans, and personal financial advisory services all require data quality, online account management, document production, and more secure archiving solutions.
- Mergers and acquisitions are fueling growth and expanding product portfolios, but require extensive data consolidation and integration efforts to realize promised economies of scale.
- Banks need to provide customers with faster and more complete statements in the mail as well as secure, instant online access to current and historical financial statements.
- Regulatory compliance requirements, including Homeland Security, the Basel II framework, and privacy regulations, are forcing financial institutions to overhaul their information systems, integrate their databases and develop more detailed and timely reporting capabilities.
- As shareholders demand higher margins, retail banks must constantly adjust their mix of services to accommodate rapidly changing business conditions. Customer intelligence has become the key to identifying, acquiring and retaining high-margin account holders.
- Privacy and security concerns require new systems to validate addresses and guarantee that only qualified recipients are able to access mail and electronic communications.
To survive and win amidst today’s market competition and regulatory scrutiny, retail financial service providers are focusing on their customers as never before.
Read about our practical solutions to learn how Pitney Bowes Group 1 solutions put bankers back in control.