What is Organic Growth?

What is Organic Growth?

Typically, organic growth would be growth from within, expanding customer base and adding new products for that customer base. Basically, it is the monetization of assets and accesses. How do you take the assets your organization has and the opportunities afforded you through online or branch visitors and monetize both?

Recognizing there are hidden assets and many unprofitable accesses which every financial institution has, how can they be turned into opportunities that can be monetized? Hidden assets, such as: customers, social networks and data, have been hidden in intellectual anonymity, buried in the depths of the mind. Likewise, how can sterile accesses, fruitless meanderings of your customers visiting your website be monetized through invocative motivation by accessing innovative digital touchpoints?

Every organization is subject to thinking within the box. Raising questions and stirring the intellectual thought of an organization will create new and innovative ideas. What is presented in this white paper should be considered a seed that when nurtured will grow and expand opportunities. Our goal is to identify to you, through a series of white papers, what the RiskCALM₄ technology platform can promote within your organization.

Veiled Assets

A financial institution’s customers or members, both consumers and businesses, can be assets and used, if viewed with an open mind, creating new revenue streams.

• First, they are a valued commodity for outside businesses to market to,
• They are also valued buyers for services or products at various times,
• When aggregated in various ways, they become social networks.

Social networks, viewed also without a veil, expand your customer base and lending opportunities.

• First, the services provided through these networks attract more Millennials and Gen Z and encourage loyalty,
• They also create differentiation with businesses for your organization,
• Creating B2B, B2C and C2C, commerce, increasing business opportunities and valuable data.

Data is another asset that has been hidden for most financial institutions. Utilizing data management will expand the services you provide, increase revenues, and open new revenue streams.

• First, combining sanctified data with predictive analytics, not only aides in the integrated risk management processes for IFRS 9, AML, CFT, KYC, improving the service given during onboarding, lending, and account opening,
• It also makes possible new social networks, expanding your base, and increasing revenues,
• As a result, the increase in analytic performance will improve digital touchpoints, expanding online self-service offerings for what were once your sterile visitors.

Sterile Accesses

With innovative digital touchpoints visitors will have the availability of services that will expand the base, increase the FI products per household, increase customer satisfaction, and improve connectivity to Millennials and Gen Z.

• First, visitors to the financial institution’s website will be provided with various reward potential, self-service capabilities, lifecycle financial analysis, special offerings from the FI,
• These services will lead to more loans, purchases, and revenue streams,
• While at the same time more meta data that will continue to improve the predictive analytics is captured, benefiting the planning for the FI’s business as well as for the visitor.

Conclusion

This white paper is the first of a series; its purpose is to identify the enormous scope of RiskCALM₄’s technical capabilities. We will continue to build on that scope with more detail in the following white papers. Don’t miss reading them; they will help you define your digital transformation.