EDS U.S. Financial Services Privacy and Customer Relationship Management Survey
Summary of Results and Findings
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During the last decade, advances in two technology areas enabled financial institutions to (a) reduce their overall channel costs and (b) market themselves more effectively. These technologies are the Internet and data warehousing. The Internet provided financial institutions a new way for customers to transact and interact. Data warehousing gave them the ability to create a single customer repository – one that can be mined using business intelligence (BI) and CRM solutions to significantly increase the effectiveness of marketing campaigns, while reducing costs.
At the same time, though, financial services companies are facing the challenges of increasing regulatory requirements with respect to consumer privacy – for example, complying with the Gramm Leach Bliley Act (GLBA) and Do Not Call regulations.
EDS sponsored this consumer market research survey to get a clearer picture of the needs of our clients in the financial services industry, specifically in the CRM and data protection areas. The survey results enable us to better understand the evolving CRM perspectives of consumers, our clients’ customers. With this newfound information, we will be in a better position to help our clients address their CRM and data-protection needs.
Our partner in this project was Ipsos Reid, a well-known and recognized market research organization. Our respondents were consumers in the United States and Canada.