Revio presented the benefits of data driven relationship growth to over 200 bankers as part of the ICBA Live 2024 Innovation Showcase. The showcase featured a dozen companies addressing a number of challenges across the community banking industry, from analytics to robotic process automation, compliance technology, and other solutions to improve revenue and lower the cost of critical functions.
Watch the Revio presentation to learn more about data-driven insights to empower relationship growth.
Key Takeaways Include:
- Leveraging customer Insights improves both sales performance and financial performance.
- With rising customer acquisition costs, banks should turn to customer data to help maximize their opportunities with current customers.
- Client expansion costs around 80% less than acquiring a new client and has the unique benefit of directly impacting customer lifetime value and profitability.
- Data challenges can be overcome by leveraging platforms to onboard and analyze customer data to uncover growth opportunities.
- Revio’s analysis has revealed significant client growth opportunities across their client base.
- By focusing on client growth opportunities & audiences, banks can enable business units to optimize those audiences for their deposits and revenue potential.
