The Bank of Ireland has implemented PMG System's TruProfit solution suite in an effort to gain improved insight into customer and product profitability.
The bank is using PMG's TruCustomer and TruAnalytics modules to deliver and distribute customer account profitability data to customer relationship managers, enabling them to segment the customer base and understand and measure growth in their portfolios.
Eugene McCarthy, head of profitability measurement in Bank of Ireland's retail division, says: "Understanding what drives customer profitability is the Holy Grail in retail banking, and implementing the TruProfit solution suite brings us much closer to that goal."
In a later phase, it is anticipated that this information - collected from across multiple product and touch points - will be used to focus sales and marketing efforts toward the bank's most profitable customer segments.
PMG is a division of Fidelity Information Systems. The TruProfit solution suite integrates Cognos Enterprise Business Intelligence Series and Cognos ReportNet.