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About U.S. Bank
In the face of strong competition in the banking sector, the one wins, who uses its own competitive advantage. That is how US Bancorp Company based in Minneapolis has grown into sixth-largest national holding company providing financial services.
"Long before CRM became a popular acronym, we used a behavioral assessment and predictive analytics to implement the strategy of relationships that benefit both our customers and the bank," - said Richard Martino, senior vice-president of US Bank, responsible for analysis and market research.
With more than 13 million private customers and 1 million corporate customers, not to mention the more than 10,000 variables in the database and 16 million transactions per day, US Bank locations
felt the need for effective methods of collecting customer information and regular analysis of all segments. To ensure success in this area there was chosen a solution for customer analytics - SAS Customer Intelligence.
"Customers are beginning to show loyalty when we offer them solutions that are really necessary and useful to them, - said Mr. Martino. - That's how SAS company helps us".
Using the components of SAS Marketing Automation and SAS Interaction Management solution, US Bank locations has built a comprehensive system for managing a large number of different marketing campaigns, as well as a system to monitor the behavior of customers to the bank's employees to promptly take action when certain events such as birth child, marriage, delay in payment is periodic, large purchases take place.
Using software solutions S.A.S., US Bank determines the strategy of interaction with customers and seeking offers personalized reports for all contacts with clients, including call-centers, the staff at branch offices, sales, staff, and direct mail. SAS solution allows US Bank to analyze changes in customer behavior over time, so that bank officials could immediately respond to significant changes at a time when the intervention will have maximum impact. Thus, marketing opportunities are mostly used and it saves clients who were ready to leave.
"The change in behavior signaled the emergence of new needs, as if, for example, the client raised his hand and said," Hey, I need something else, "- said Mr. Martino. - It is in such moments, clients need to consult the banking employee.
For example, such signals have recently helped one bank employee to determine that an important customer transfered funds to another bank for commercial financing. This understanding of the situation gave the employee the opportunity to join forces with a commercial lender, winning at the end, a credit transaction and achieving additional funding.
"This is just one example of how such an alarm system has helped our staff to use the opportunity, which we otherwise would not be. The officer was able to draw the information available in the profits of both the client and the bank - said Mr. Mr. Martino. - It would be difficult to do so without such controls as the interaction with S.A.S. Interaction Management ".
US Bank locations use SAS 9.1 platform. This allows users with different levels of experience to have a "transparent" access to the CRM-solution of S.A.S. "This technology combines all of these applications - explains Jerry Gerlan, manager of marketing analytics USBank. - It works as the most advanced users and novices. Regardless of your experience, you can work with this application."
Our investment into the development of a platform for customer analytics will have a solid return on investment over the next five years - said Mr. Martino. - And profits for our shareholders will be impressive, because these investments are urgently needed and appropriate for the institution of this size and profile, as our bank. "
"That is the strength of a reliable database - says Jill Enebnit, marketing manager for the database. - We come to the attention of the numerous sources of information on the account information to the family. We work hard to centralize the data that allow us to get a holistic view of the client. Using a software solution SAS, we can consider carefully, process and analyze information on those 16 million transactions that take place every day. "
Faster and more effective decision-making gives the bank a competitive edge with the largest national banks. The use of SAS is an integral part of the processing of vast amounts of data into analytical information easy task.
"The company has provided invaluable assistance in achieving our goals - said Mr. Martino. - Just put the software in the enterprise and ensure its proper use - two completely different things."
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