LONDON--(BUSINESS WIRE)--Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on market intelligence engagement. This success story highlights how the experts at Infiniti Research helped a banking sector client identify critical strategies to reduce their overall operating costs by $7 million.
The banking sector is expected to witness positive growth globally over the next few years as major developed markets are experiencing increasing commercial banking activity as a result of strong economic performance and positive expectations. Despite this stable growth in the banking sector, factors including the evolving customer expectations, lower return on investments, rising competition from FinTech providers, and regulatory pressures are increasing challenges for banking companies.
Recent studies show that around 70% of companies in the banking sector have adapted a customer-centric business model. So, have you revamped your traditional banking model to meet the need of your customer segments? If not, our market intelligence experts can help. Request a free proposal.
The business challenge: The client is a banking company based out of North America. Increasing competition from FinTech companies made it difficult for the client to adjust quickly to the changes, not just in technology but also in operations and other facets of the industry. Also, owing to the evolving regulatory requirements, the banking sector client had to spend a large part of their discretionary budget on being compliant and on building systems and processes to keep up with the escalating requirements. In addition, due to the client’s inability to keep pace with the latest technologies and trends, they faced difficulties in delivering the level of services that consumers demanded, especially with regard to technology. As such, they wanted to thoroughly analyze the US market changes, competitors’ strategies, and industry developments to revamp their business models accordingly.
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Infiniti’s market intelligence analysis solution comprised of:
- Market research study to analyze the current market landscape and identify the right scale of opportunities
- Customer intelligence study to analyze customers’ changing needs and demands. This phase of the engagement also involved analyzing reasons for customer churn
- Market scanning and monitoring to assess and predict changes in emerging regulations in the US banking sector
- Competitive intelligence engagement to compare the client’s offerings with that of the top companies in the US banking industry
- Wondering how your business can benefit from our market intelligence solution? Request more information from our experts!
The business impact of the engagement for the banking company:
- Assess local competition
- Analyze the changing landscape for lending and payments mechanisms
- Adopt a customer-centric business model.
- Enhance customer experience and acquire new customers
- Want to gain more insights into our services portfolio? Request a free brochure.
Read the complete success story for comprehensive insights: Reducing Annual Operating Cost by $7 Million for a Banking Sector Client through Market Intelligence Engagement
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us