Synapse Technology, a leading provider of Event Based Marketing products and services to the financial services industry, announced today it has formed a strategic alliance with National Commerce Bank Services' (NCBS) newly formed Strategic Marketing Solutions division to provide financial institutions throughout the US with cutting-edge customer and deposit retention programs. These programs combine Synapse Technology's innovative SynapseDDM (Daily Deposit Manager) product with an organization that has a deep understanding of bank database modeling and analytics and years of experience in developing tested and proven customer acquisition, cross-sell and retention programs.
SynapseDDM allows banks to act immediately on specific opportunities and threats by leveraging call center, e-mail, direct mail, relationship banker, and other customer contact communications.
SynapseDDM uses long-term transaction behavior to identify and provide retention and cross-sell opportunities. SynapseDDM leverages the Synapse Transaction Behavior Marketing methodology to interpret and compare current behavior to that specific customer's historical behavior. By using a series of formal statistical methods, the daily customer specific behavior analysis recognizes significant behavior changes and instantly identifies new sales and service opportunities. The financial institution can immediately act on current information.
"Synapse Technology has developed the most effective early warning system on the market to proactively alert banks on a daily basis to potential customer attrition or diminishing deposit balances," says Robert Arndt, First Vice-President and Group Manager, NCBS Strategic Marketing Solutions. "Partnering with Synapse Technology will enable us to provide a superior retention solution to our clients."
"We are delighted to be working with an organization as experienced and progressive as NCBS," said Fred Chapman, Executive Vice-President, Financial Services, Synapse Technology. "The combination of their specific banking knowledge through more than fifteen years of performance improvement with their client retail banks, coupled with our unique proactive retention solution, should provide banks with a major competitive advantage in the marketplace."