Tel: + 44 (0) 1 384 345 988

Private banking is at a crossroads, affected by numerous forces at work that did not exist merely a decade ago.

Far too many clients are not happy with what they are getting: 31% of High Net Worth individuals say that their financial services are not delivered to an acceptable standard

There are many reasons for this but in the forefront are that too many Private Bank transaction systems do not provide any effective facilities for management reporting.

The systems are designed to efficiently process transactions and are not designed to provide analytics for decisions and business intelligence. T his leads to major issues in trying to understand the dynamics of the business.

All of this is compounded by the fact that due to the nature of private banking many revenues generated, such as mutual funds, are not easily allocated against clients

Of course, without proper allocation of revenues to individual clients it is impossible to:

• Improve customer profitability through better segmentation and more targeted service levels

• Judge the effectiveness of private bankers

Many private banks have spent large sums of money upgrading their technology to try to provide better information for and on their clients. To date much of this investment has been directed at new ERP systems. But the return on investment is in most cases much lower than expected – or negative!

EBC will show you how to leverage that investment.