Irish bank uses DM to pull best customers to phone

Article Abstract:

Allied Irish Banks PLC (AIB) of Ireland has employed across the board direct marketing to recruit its best customers to switch to its 24-hour telephone banking service. AIB uses phone banking to go beyond simple inquiries. The bank's telephone services offers financial advice on some of its more complicated services and products and is capable of handling multiple transactions. The marketing campaign of AIB is a mixed one, combining television and print ads with targeted mail efforts.

Ireland

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Neural modeling in financial CRM

Article Abstract:

Banks can use neural network modeling as an alternative to statistical and rules-based marketing models for mining their data warehouses. Neural networks, in conjunction with information about customers, can be used to predict purchasing behavior and needs. They are also useful in uncovering complex, multidimensional relationships buried in customer data. Specific applications include uncovering cross-selling opportunities and predicting customer credit risk.

United States, Electronic Computer Manufacturing, Artificial Intelligence Systems, Artificial intelligence

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German bank to sell office supplies online

Article Abstract:

Dresdner Bank AG, one of the largest banks in Germany, has launched in May 2000 a Web site for selling office supplies and furniture. The site, www.allago.de, is offering products that are priced 10% less than that offered in retail stores. It is expected to generate monthly sales of $1.4 million and be profitable in eight months. The bank plans to spin off the online business by the end of 2001.

Strategy & planning, Germany

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