LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Fiserv, Inc. (NASDAQ: FISV) just announced that it is equipping financial institutions to better understand customers and identify marketing opportunities within their customer base through a new marketing analytics solution that is already being implemented by banks and credit unions.
Integrator Advance™ offers multiple tools, including research-based segmentation, cross-sell intelligence, campaign management, and reporting, in a single platform. The solution combines technology with insights to enable financial institutions to market effectively to the right customer, based on analytics that indicate the customer’s propensity to use a certain product or service. This intelligent marketing can lead to enhanced relationships, increased use of products and services, and financial institution growth.
Integrator Advance leverages technology and expertise from Raddon®, a Fiserv company and provider of innovative research, insightful analysis and strategic guidance to financial institutions. Banks and credit unions that utilize Integrator Advance have the option to combine the technology with expert advice from Fiserv to guide the execution of marketing strategy.
Integrator Advance gives us centralized access to marketing campaigns and results, and enables us to share those across our organization,” said Dena Weber, senior vice president of operations, First Federal Savings Bank in Ottawa, Illinois. “This will allow us to stay in step with our customers as we refine the capabilities we’re offering each individual based on their needs and how they interact with the bank. It’s not about marketing more stuff, but about making people aware of how the services the bank provides can help them in their day-to-day lives.
Understanding our Members and their likelihood to utilize the services that we offer is paramount for us to deliver the right messages at the right time,” said Dave Valentine, vice president, Sales and Marketing, of Consumers Credit Union in Gurnee, Illinois, the first financial institution to implement the solution. “With Integrator Advance, we will better collaborate on our Members’ relationship as well as on more effective campaign management. The technology, advice from Fiserv, and integration with our core processing platform gives us a high degree of confidence in our future marketing capabilities.
For financial institution marketers, the MCIF system – or Marketing Customer Information File – has long been a staple for growing existing household relationships. Integrator Advance replaces the MCIF system. With a web-based architecture and clean user interface, the platform updates proven marketing techniques of grouping accounts by household, segmenting by buying attributes, and managing relationships and campaigns according to specific household needs.
With Integrator Advance, marketing analytics knowledge and marketing capabilities are available to any employee in the organization via desktop or tablet. Because the solution is easily used by even non-technical employees, campaign execution and knowledge distribution are efficient and accessible. A front-line view allows any customer-facing employee to see the offers available to a specific customer. For example, a relationship manager can see that a customer is a candidate for a loan, can see material that has been sent to him or her, and engage on the opportunity.
In addition to highly functional technology, Fiserv can provide the expertise of a dedicated advisor to help the institution market more effectively. This is not just technical support, but consultation based on best practices of financial services marketing,” said Curt Johnson, director, Product Management, Open Solutions, Fiserv. “The insights our advisors provide are backed by our ongoing consumer and small business research, as well as practical hands-on experience.