Retail banks are facing intense pressures to keep ahead of their competition and QNB has made a decision to develop a more sophisticated method of marketing its products, improving the way it targets its customers with the products they need. By using Misys Equation Profitability Analysis, it will be able to enhance its relationship management capabilities and build on the strong customer relationships it has as well as develop new ones more easily.
Through the improved view of which parts of the business are contributing most towards the bank's overall profitability, it will now be able to direct resources more effectively and improve the already-active product development strategy. The world-class analysis tool from Misys will also allow more targeted and cost effective direct marketing campaigns to the bank's growing customer base.
"The bank needed a system that could provide a multi-dimensional data mining tool such that bank income data can be captured automatically and reported upon across a range of products, customers and channels, whether it be any of the 70 ATMs owned by the bank, the branch network, or any other," Mr. Marwan Mahmoud, AGM Information Technology at QNB said.
"We pride ourselves in the strength of our customer relationships and the service we provide. Misys has given the tools to improve this even further. The innovative banking system from Misys will enable us to have a clearer picture of how the various sectors of the bank are operating at any one time. We will be able to focus efforts to improve on the choice of products and additional services available to them. We are confident that we can satisfy our customers' needs even better through the use of Misys Equation Profitability Analysis," Mr. Mahmoud added.
Roy Froud, regional manager for Misys Retail Banking (Middle East), comments, "Misys Equation is closely integrated with Misys Trade Innovation and Misys Opics. One of Qatar National Bank's stated long term goals when it originally chose the Misys suite was to be able to provide sophisticated profitability analysis information to its management. This was achievable because of the tight integration between each element of the systems. Today, Qatar National Bank can look at both customer and product profitability across the retail, corporate and treasury business areas, consolidated or segmented."
QNB, established in 1964, has by far the largest distribution network in Qatar with over 100,000 customers across 33 local branches. QNB has international branches in London and Paris.
This latest initiative builds on a long-standing relationship between Misys and the bank, which has been using the Misys Equation core banking system to increase customer revenues and drive efficiency throughout the business for several years. It can now act faster - for example extending or modifying marketing and pricing initiatives - thanks to early feedback from Misys Equation Profitability Analysis.
Through the Misys solution, information about the customers and all their transactions is analysed across many business areas within the bank, cutting the information by customer, branch, Account Officer, product, territory or indeed any other way.
This analysis can compare income streams across customer demographic categories, such as age, salary range, gender or type of employment to give the bank the best possible view of where it needs to focus its product development.