what we do industries
Finance, Banking, and Insurance
What’s going on?
Against the backdrop of the subprime mortgage crisis and ensuing credit crunch, the financial services industry—retail, corporate, and investment banks as well as insurers—are under tremendous pressure to cut costs, bolster revenue, and lay the groundwork to succeed as lending picks up again.
At the same time, financial organizations struggle with a particular brand of convergence: while media convergence dazzles us with options we can invoke with a single keystroke, financial convergence drowns its institutions in data that has nothing singular about it. Legacy mainframe systems built to handle a massive number of transactions are indeed handling more than ever, but the data is largely unfiltered. Further flooding this sector’s data landscape are increased regulation requirements, compliance mandates, and globalization.
How can Clarity help?
To financial institutions of all types, Clarity brings the professionals and the skills to solve industry-specific problems like the following:
A sparse organic growth outlook
Your issue: Dimming prospects for organic customer growth due to factors such as the merger and acquisition slowdown, a cautious economic outlook, and new consumer privacy regulations (like spam rules and opt-out programs), which shrink the pool of people whom marketers can target.
Our answer:
Modeling capabilities and predictive and customer analytics that enable you to identify your most valuable customers, anticipate customer events across channels, focus efforts on customer retention, and cross sell to your existing customer base.
Learn about Clarity’s specific modeling and customer analytics skills.
The plentiful data you have—which can’t support the precise analytics you need
Your issue: Conflicting and duplicate customer information across products, channels, and lines of business, all of which must be resolved before any modeling and analytics capabilities can realize their full potential.
Our answer:
Master data management (MDM) solutions that provide a common data infrastructure for establishing and persisting quality data across your enterprise.
Learn about Clarity’s specific MDM skills.
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The differentiation shift from core services to customer experience
Your issue: The commoditization of financial services created by industry consolidation and Web 2.0 competition, which means you can no longer compete on the merit of those services alone.
Our answer:
Customer relationship management (CRM) solutions that not only enable you to create, track, and manage the individual and corporate customer experience, but to align customer initiatives with the underlying technology that supports new and exciting products like mobile banking (an underserved market), non-traditional debit deployments (such as for government benefits) and next generation security and authentication (like biometrics).
Learn about Clarity’s specific CRM skills.
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Heightened risk management requirements
Your issue: Regulator demands to raise capital, build up loss reserves, and improve overall risk management practices that can withstand more intense scrutiny.
Our answer:
In-house capabilities for identifying, analyzing, quantifying, and minimizing credit risk, market risk, funding risk, and operational risk.
Learn about Clarity’s Information Management Practice.
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Organizing, automating, and keeping track of it all
Your issue: The overarching need for a systematic, streamlined way to handle all your processes, from front office to back, from core systems to cutting-edge ones, from knowing today’s ROI to forecasting tomorrow’s risk.
Our answer:
Solutions that encapsulate business logic, optimize process flows, simplify underlying IT systems, facilitate controlled change, define metrics, and increase efficiency overall.
Learn about Clarity’s Information Management Practice.
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