Financial Services Solutions
Profisee has extensive experience delivering customized solutions to financial services companies. Our expertise with the following categories of applications, deployed in a large number of financial services firms, makes us the logical choice when you need to guarantee a successful implementation.
Planning and Forecasting
High quality planning and forecasting applications are essential to any financial services company. The diversity of products and organizational units found in most large financial institutions, together with the added complexity of foreign exchange and other time-sensitive calculations, can often lead to technical challenges. Profisee specializes in large complex financial systems. Our custom planning and forecasting solutions can manage branch-level planning for thousands of branches, complex F/X calculations, management and statutory reporting, as well as complex consolidations, allocations and inter-company eliminations for every imaginable permutation of subsidiary, associate and joint venture. These powerful capabilities, delivered through the web with centralized storage and business rules, provide a perfect balance of technology and business benefit.
Profitability Analysis & Cost Reduction
Now more than ever, financial services companies are intent on reducing costs, often to satisfy commitments made to shareholders during mergers and acquisitions, or as a response to a highly competitive market place with prices for services under constant downward pressure. The current economic climate has further reduced the volume of many types of financial transaction, driving the cost per transaction upward.
Profisee's founders have extensive experience with the design and implementation of profitability analysis, with emphasis on the multi-dimensional permutations of customers, products and channels. Our expertise in the area of cost analysis and the necessary allocations of overhead and other shared costs is one of our specialties. Whether you use traditional cost accounting methods or activity-based costing principals, the team at Profisee has implemented many applications for banks, insurance companies, and securities companies.
Customer Loyalty & Churn
With financial product offerings becoming increasingly commoditized and depersonalized, it has become much easier for customers to switch from one financial firm to another. With customers continually looking for the lowest cost product, yet driven by a desire for high levels of customer service, it has become very important for financial service firms to monitor customer churn. Being able to improve customer satisfaction, loyalty and long-term retention requires an excellent customer analysis capability. Planning deposits in banking, premiums in insurance and commissions in brokerage all require a good understanding of customer loyalty and churn and their effect on revenue.
Campaign Planning & Effectiveness
Ensuring that highly profitable products are marketed to the right customer segments requires frequent planning and execution of marketing campaigns.
The use of marketing analytics to plan your campaigns and model the probable outcomes is easily within your reach. The wealth of information gathered across even one or two years worth of campaigns is invaluable when properly correlated with the response rate over the following month or quarter. Credit card companies routinely plan and execute many such campaigns every month. Monitoring uptake of each campaign, along with other key indicators like average outstanding balance, interest income and customer turnover for every campaign, creates the business intelligence that ensures future campaign dollars are spent wisely.
Analyzing key business metrics and understanding root cause are crucial to sustained success. Depending on your particular financial service offerings, these metrics may include:
- Loan and Deposit Growth
- Loans to Deposits Ratios
- Return on Assets and Equity
- Efficiency Ratios
- Net Interest Margins
- Primary Capital Ratios
These types of applications can be delivered in a variety of packages, including performance scorecards and balanced scorecards.