SAS Institute India Pvt. Ltd. has announced that Centurion Bank of Punjab, the merged entity of Centurion Bank and Bank of Punjab, has selected SAS Banking Intelligence Solution Suite (BIS) to maximize profitability and strengthen customer service.
The BIS deployed at the bank includes solutions for customer segmentation, cross-sell and up-sell, campaign management and customer retention, said SAS.
Speaking on the occasion, Vivek Vig, country head - retail banking, Centurion Bank of Punjab said, "We focus on delivering enriched customer experience and customized banking services. By implementing SAS Banking Intelligence Solutions, CBOP can now gain access to customer insight and analytics thus enabling efficient service to the esteemed patrons. Identification of potentially profitable products across the customer base and strengthen our customer acquisition strategies, would be an added advantage. We are delighted to partner with SAS to offer tailored products and services to meet the demands of our esteemed customers."
"Benefits from the implementation will be instantaneous. This will assist our efforts to make a mark overall in the banking sector as we are known for retail banking," added Vig.
"We are proud to be associated with Centurion Bank of Punjab and help them support their business objectives by providing required relevant businesses and customer intelligence to accelerate their growth and stengthen customer relationships", said Sudipta K. Sen, CEO and MD, SAS Institute.
Stated benefits of SAS Enterprise Intelligence Platform include:
Single View of Customers: SAS solution will provide the bank with a single view of customers to enable visibility for customer's consolidated relationship with bank.
Performance Analysis and Reporting: With the solution, the bank can translate business strategy into measurable actions by monitoring progress towards a strategic objective.
Increase Cross-Selling on Existing Customer Base: The solution will enable the bank to categorize customers from the existing customer base and develop strategies and campaigns to suit individual customer requirements. This will enable the bank to identify and execute cross/ up selling opportunities, channel preferences based on customer's profitability and risk potential.
Maximize ROI on Marketing Campaigns: With the help of Marketing Automation, the bank would be able to implement and measure multi-channel, multifunction campaigns for customer acquisition and retention objectives.
Increase Profitability: Availability of accurate and consolidated customer data and information to enable the bank to strengthen the cross sell scenario leading to multiple products and services subscription.
The cost of the implementation was not disclosed.
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