You are here: silicon.com > Financial Services > News

CRM is top priority for banks

Competition for customers hotting up...

Tags: crm

By Tim Ferguson

Published: 28 February 2007 17:15 GMT

European banks will invest heavily in customer relationship management tech to combat increasing competition in 2007, according to analyst house Financial Insights.

Banks will focus on CRM projects more than established cost-cutting IT measures in order to retain existing customers and acquire new ones, it predicts.

This would include analytics technology to allow banks to target customers more effectively with services they will be interested in through tailored marketing campaigns.

European research manager, Rachel Hunt, who carried out the study, told silicon.com the harmonisation of European banking - with initiatives such as MiFID and Sepa - will mean customers may be tempted elsewhere in the search for better services. Banks will therefore have to respond to remain competitive.

silicon.com Financial Services

Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!

In the research report - entitled Strategic Initiatives for European Banking Top 10 - customer-centric projects move up to third place, just below security and fraud management, and regulatory compliance.

The top 10 looks at initiatives banks will focus on in the coming year.

  1. Zones
  2. Management
  3. Networks
  4. Software
  5. IT Services
  6. Hardware
  1. Verticals
  2. Public Sector
  3. Financial Services
  4. Retail & Leisure

silicon.com Financial Services
Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!


  • Jobs
Information/Data Analyst

There is an International element to this role which will include adhoc reporting on users such as operators and campaigns. The role encompasses, but ...

Head of Business Relationship Management

We currently have an exciting opportunity for Head of Business Relationship Management within the UK Border Agency's (UKBA) Business Design and ...

Data Audit - IT

Job Description: The jobholder will be responsible for minimising operational failure, including but not exclusively, the risk of fraud, by helping ...

Nick Beecham and Belinda Doshi
No more tax breaks for offshoring?
Financial services firms must prepare now for 2010 legal changes

Tim Ferguson
On a new Voyager, tackling fraud and the intellectual challenge
Interview: Nationwide IT director, Peter Stafford

Nick Heath
David Lister on smart grids and why he left RBS
Interview: National Grid CIO

Andy Jones
Why banks will push ahead with offshoring
Comment: Even if they don't want to

Catherine Stagg-Macey
Legacy IT holding back insurers
Comment: Economic crisis means finance giants must step lively

Julian Goldsmith
The City fund manager with no IT department
Q&A: How asset management is embracing the cloud...

Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.




Quick Sitemap Links: