Accenture launches new analytics tools for financial services firms
Accenture launched seven advanced analytics applications for the financial services industry, including banking and insurance companies.
The new advanced analytics applications, configured through the Accenture Analytics Applications Platform, will help financial services companies improve customer retention, increase sales, simplify the credit scoring process, and reduce costs associated with claims fraud.
The applications will allow customization for specific users, ranging from business executives to data scientists with options to be tailored with a company’s specific workflow process to solve specific business problems, claims the company.
For retail and consumer banks, the applications will help to detect early signs of customer defection by analyzing customer information, such as transaction developments or product expiration dates besides facilitating banks to retain high-value customers by analyzing the actual and potential value of their customer base and recommending data-driven marketing and sales actions.
Accenture Analytics senior managing director Narendra Mulani said: "Through the use of tailored advanced analytics applications, companies can enable a variety of users to confidently make insight-driven decisions to solve their business issues.
"When an information-powered culture spreads throughout a company, the business can benefit as value in the form of increased revenues, improved capital efficiencies, and minimized risk can be realized."