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„ Building a Best Next Offer Model for Retail Banking “ Group C

„ Building a Best Next Offer Model for Retail Banking “ Group C. Requirements Written Work : pages Presentation : 20 Minutes Discussion : 10 Minutes . The Business Problem.

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„ Building a Best Next Offer Model for Retail Banking “ Group C

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  1. „Building a Best Next Offer Model for Retail Banking“Group C RequirementsWritten Work : pagesPresentation: 20 Minutes Discussion: 10 Minutes Dr. Evangelos Xevelonakis

  2. The Business Problem • The challenge of today’s large banks is to shift from market share to wallet-share. Instead of merely increasing the number of customers, banks need to increase the profitability of the ones they have already. • Selling additional services to the customers is referred to as cross-selling. Getting customers to trade up to more profitable products is called up-selling. • The goal of the Retail bank is to increase the bank’s share of each customer’s financial business by cross-selling appropriate products. The bank is planning a direct marketing campaign for three selected products: • Savings accounts • Credit Cards • Loans • The customer data is available of account-level data Dr. Evangelos Xevelonakis

  3. Questions • Analyse and discuss the Retail Banking market situation in Greece • Competition • Profitability • Customer orientation • Why is Cross-Up Selling more effective in the Retail Banking? • What kind of data transformations are necessary in order to shift from a product centric to a customer centric view? • What kind of historical data are required to develop effective models? • How could you develop a best next offer model? Discuss this approach. • How can the company deliver the developed models and information to the customer advisor? Discuss the required business and system architecture for inbound and outbound campaigns. Dr. Evangelos Xevelonakis

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