Novantas, Inc. announces a major new release of the StrataScape platform, which enables banks to make strategic and tactical decisions with their networks, taking into account shifting customer behaviors and expectations. The data, metrics and technique additions to the Network Optimization platform provide a seamless transition between strategy and execution, incorporating emerging concepts of how to optimize physical distribution in a growing virtual market.
“Traditional technology in the market focuses on where to build the next best branch, but the real question is: what is the role of the branch in acquiring, serving and cross-selling customers, and therefore what are the best formats to optimize a particular market,” says Alex Lee, a principal in Distribution Solutions at Novantas.“ The Network Optimization module supplants traditional network planning methods by integrating new techniques for measuring perceptual convenience, format trade-offs and channel preferences into a market action plan — including specific recommendations to close, consolidate, or change format based on where and how customers are interacting with the bank.”
“Grounded in the latest analytical concepts developed in partnership with our own experts and the industry, this new functionality adds critical analytic power and efficiency to bank network planning,” says Darryl Demos, GM of Novantas Solutions. “Before making multi-million dollar network decisions, our clients can be sure they’ve tested various scenarios and compared trade-offs using a financially rigorous business case and granular model that optimizes those decisions for them.”
Novantas, Inc. is the leader in customer science and revenue management strategy for the financial industries. A FinTech 100 Company, its Advisory Services, Analytical Solutions, Data, Research and Marketing Services specialize in investigating and interpreting customer needs, attitudes, and behaviors to help banks refine pricing, marketing decisions, customer strategies, and sales and service activities. For more information, visit www.novantas.com.
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