April 2012 - Banking Newsletter
A Message from West Monroe Partners
Date : April 5, 2012
As banks continue to compete in a highly regulated and increasingly competitive environment, they must implement the right strategies, solutions and technologies to get ahead. Learn how West Monroe Partners can help your institution emerge as a leader.

Even as the economy begins to rebound, banks are still feeling the pressures of a consolidating and increasingly competitive marketplace, as well as adapting to business impacts of the new regulatory environment. Now more than ever, these institutions are tasked with implementing the right business and technology strategies that will attract and retain customers, manage risk, and penetrate the market with relevant services and product offerings.

In this newsletter, we share our insights based on work we’ve done with financial institutions and banking clients around the globe. Our experience and viewpoint covers various areas of the business, including Data Analytics and Business Intelligence, Customer Experience, IT and Operations.

In this edition of our newsletter, we cover the following topics:

  • Harnessing the power of your banks data to identify opportunities, manage risk and make informed, strategic business decisions
  • Understanding and managing the partnership that exists between business and technology, and how this partnership impacts everything from customer service to product offerings
  • Recognizing the opportunity that exists with the ‘unbanked’ segment
  • Utilizing data analytics to enhance customer relationships and mitigate fraud

Please do not hesitate to contact us directly if you would like more information on the topics below or to discuss your business and technology challenges.

Banks, like so many other organizations, are fundamentally built on data. So why do many of these institutions lack adequate tools to harness the power of this data?
Data analytics is the practice of determining the most effective ways to mine data in order to enhance customer relationships and mitigate fraud. As the scope and importance of advanced data analytics continue to increase, banks are well-advised to consider reviewing and upgrading their analytics capabilities.
In the banking world, where technology is one of the most critical differentiating factors for the business, many institutions are struggling to understand and manage the partnership that exists between business and technology and how this partnership provides and supports the best customer service and products available. Could enterprise architecture be the answer your bank is looking for?
In a mature banking industry, emerging or untapped markets are few and far between. Bankers approach new opportunities with a heightened skepticism in light of market events that have unfolded since autumn of 2008. Yet, on the margins exists a market segment of untapped, underserved, and … unbankable? We believe this segment may be worth a second look.
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