Banks Need Better Cost Information
Gartner Analyst Susan Landry says banks need more information about their costs, profits, so they can link strategic moves in technology and understand their ability to make significant difference in pricing and profits.
Banks have the ability to look at costs in particular slice or dimension, aligned with the way P&L statements are organized; but if you want to understand impact of pricing on a certain market and the customers do business across various lines of business in your bank – you can’t find it and can’t do predictive analytics if you were to adjust you pricing schemes, she said.
