LONDON–(BUSINESS WIRE)–#bankingandfinance–The COVID-19 pandemic has caused transformative change across industries. In the US banking industry, this has translated into a need for efficient and customer-centric digital platforms. Additionally, US banking industry players need to accommodate for remote work, new hygiene requirements, and the economic impact on small businesses and customers. Infiniti’s custom market intelligence solutions enable companies to efficiently adapt to the new normal, appropriately respond to the COVID-19 pandemic, and prepare for the post-COVID era while maintaining customer satisfaction and employee safety.
To leverage Infiniti’s expertise in offering custom market intelligence solutions to identify and adapt to the implications of COVID-19 on the US banking industry, request a free proposal.
“Social distancing has changed the way people interact with physical space and has subsequently created an unprecedented crisis for the US banking industry. The longer the crisis exists, the more likely we are to see transformative and lasting changes in the industry,” says a banking industry expert at Infiniti Research.
The client is a banking company based out of North America. Due to the impact of the COVID-19 pandemic on the global banking industry, the client encountered operational constraints and business risks. The client was also struggling to mitigate health risks for employees, and their traditional operating models were not ensuring business continuity. The US banking industry client sought to implement a dynamic and flexible operating model, take initiatives to protect employee health, establish an interim operational model for branches, and develop a support model for remote employees. Therefore, they chose to partner with Infiniti Research and leverage our expertise in offering custom market intelligence solutions. Within the eight-week engagement, the client also sought to boost digital engagement and sales, rethink their portfolio strategy, address technology gaps, and rebuild demand forecasting and capacity models.
Infiniti’s market intelligence experts developed a comprehensive approach to assist the US banking industry client. The approach included the following:
- Analyzing the extent of the impact caused by the pandemic and assessing customer needs as well as implementing a dynamic and flexible operating model to ensure business continuity
- Monitoring the situation on a day-to-day basis to help establish an interim operational model for the client’s branches, and analyzing key competitors to recommend enabling technology setup and infrastructure for remote work
- Conducting customer intelligence analysis to understand the needs and requirements of customers, and recommending allowing mortgage customers and small business to delay payments by 100 days
- Embedding financial tools to create opportunities for human interaction, and devising a customer-centric multichannel operational model
- Experimenting with radical redesigns of their operating models and rethinking the portfolio strategy for small businesses
With Infiniti’s custom market intelligence solution, the client implemented a dynamic and flexible operating model, established an interim operational model for different branches, and developed a support model for remote employees. Additionally, the client was able to protect employees’ and customers’ health with reinforced hygiene protocols, dynamically modify branch hours of operation and closures while maintaining critical services for customers. The experts helped the US banking industry client identify third-party service providers to enable technology setup and infrastructure for remote work. The client launched a digital platform to help local community managers monitor the impact of COVID-19 in their geographies. Further, with a sound marketing strategy, the client enhanced their digital offerings and encouraged digital channels for banking needs.
Additionally, by leveraging Infiniti’s custom market intelligence solution, the US banking industry client:
- Increased limits on online transaction and simplified password resets
- Stabilized critical infrastructure and addressed technology gaps to offer seamless digital customer experiences. To find out how read the complete article.
- Revamped the portfolio strategy for small business and encouraged relationship-based banking
Speak to industry experts to learn how custom market intelligence solutions can help US banking industry players to adapt to the new normal of the COVID-19 pandemic and assist their customers in these challenging times.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
US: +1 844 778 0600
UK: +44 203 893 3400