In the company’s news Friday,
SEDONA Corporation reported that its CRM solution, Intarsia, is helping them retain and grow customers. In a news release, SEDONA points to the success of Central Bancshares, an independent bank in central Kentucky. The bank, with 100,000 customers, saw revenues and earnings increase in the first half of 2008, based partly on programs and initiatives organized through Intarsia.
The Intarsia system can, for example, help existing customers by letting banks know when their timed deposits mature. That in turn that allows bank officers to contact them about new options before their CDs matures.
“Marketing efforts by the financial institution must be leveraged to retain their loyal customers, attract new ones, and be informed and flexible enough to make changes or decisions in a short time,” a news release states.
Intarsia can also help identify what existing strategies customers might be interested in pursuing based on past activity in their accounts. SEDONA said there has been renewed interest in questions about the FDIC and the safety of money in financial institutions.
“Another benefit for financial institutions using Intarsia is that the system can provide balance swing reports to relationship officers on a daily basis,” a company news release states. Officers are kept informed of large changes in account balances - both increases and decreases - to better monitor and serve the account.
“Challenging times call for financial institutions to be ahead of the curve in customer relationships,” said Scott Edelman, SEDONA president and CEO, “so as to attract, foster, and retain profitable customers. Intarsia can assist these institutions in that task.”
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