Banks must get industrialized to survive

In order to survive the changes in the sector, banks must increase their industrialization effort: this is the conclusion of a survey conducted by the consulting agency Eurogroup Consulting. The economic crisis, a stricter regulation or higher costs reinforce this assumption.

Indeed, what is meant by “banks industrialization” includes all technological advancement improving the efficiency of the organization and data processing. The banking environment is increasingly competitive and demanding, like customers who expect growth results in a minimum time while enjoying a high quality service.

According to the same survey, the intensification of financial industrialization would be based primarily on the following four areas:

  • Cover banking life cycles in order to eliminate obsolete financial products, cluttering bank portfolios.
  • Offer a personalized service to customers and therefore have a powerful CRM tool. Indeed, it is essential that advisors provide a highly personalized service to each customer.
  • Opting for Document Management System (DMS). Ultimately, the management of data elements (such as contracts) becomes more efficient, safe and fast when they are scanned and processed electronically. The industrial management of information enables a faster delivery to customers as well as internally and thus ensures a better quality service.
  • Anticipate, integrate and control the frequent changes in the environment of finance, particularly in terms of regulations.

KeeSense ® provides a complete environment to industrialize the activity of private banks and independent asset managers by automating tasks and procedures related, among other things, to ordering, consolidation and compliance. Incorporating modules for portfolio management, relationship management and administration, KeeSense ® systematizes all phases of the business and fits perfectly to logic of industrialization in the banking sector.

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