Oracle Financial Services has introduced a suite of applications to help financial services companies obtain and manage a more complete view of customer relationships.

The suite, called Oracle Financial Services Analytical Applications for Customer Insight, is designed to provide actionable insight into customer behavior related to finance, risk management and marketing. It unifies customer views, reinforces data consistency and connects business processes with analytics through the use of four constituent applications.

Without IT Support

With pre-built reports, dashboards and data structures in those four applications, the company said business managers can plan their marketing investments against customer behavior without support from IT. The apps are integrated with other Oracle Business Analytics offerings, including enterprise performance and risk management, and financial crime and compliance.

The Financial Services Retail Performance Analytics application allows managers to use such metrics as fee income, interest, expenses and credit costs to analyze performance across customer segments, products and lines of business, in order to make sure that risk is diversified. Managers can, for instance, conduct an enterprise-wide revenue analysis across customer segments and products or monitor customer distribution across credit and delinquency bands.

Financial Services Retail Customer Analytics provides pre-built cross-sell and up-sell scores, along with channel and product propensity scores, to sift out customer trends in order to ensure that marketing budgets are reaching the right customers through the correct channels.

Bank Relationships

To analyze usage and demographics in each channel for the most effective marketing mix, Financial Services Channel Analytics tracks ATMs, branches and internet banking. And Financial Services Institutional Performance provides tools for managing a bank’s customer relationships, sales targets and organizational investments. These tools enable a manager to analyze and manage the sales force pipeline and win-loss ratio as it relates to the organization’s complete performance, and to identify the best-performers.

S. Ramakrishnan, group vice president and general manager of Oracle Financial Services Analytical Applications, pointed out in a statement that financial services organizations understand that they need “unprecedented levels of customer insight” in order to maintain their growth and profitability, but they have difficulties obtaining a “complete view” of their relationships with their customers.

The new Oracle offerings, Ramakrishnan said, break down “historical silos” and provide “pre-built-analytics, dashboards and reports to enable a 360-degree view of customers.”

Oracle OpenWorld kicks off next week and we're sure to hear much more about Oracle's customer experience initiatives. With Q1 earning not meeting expectations, we expect that many will be curious to hear what new things Oracle may have up its sleeve to get things back on track.