PNC Financial Base CaseBy David F. Carr Print
A project to clean up errors in customer records brought an unexpected dividend to PNC Bank.
PNC Financial Base Case
Company: PNC Financial Services Group
Headquarters: 249 Fifth Avenue, Pittsburgh, PA 15222
Phone: (412) 762-2000
Business: PNC Bank is the largest business unit of the company, which also provides asset-management and mutual-fund processing services.
Chief Information Officer: Timothy Shack
Financials in 2003: Total assets, $62.8 billion; earnings of $274 million on total revenue of $5.3 billion. Revenue from banking operations dipped to $3.8 billion, down from $4.0 billion in 2002.
Challenges: Eliminate inaccuracies in customer data, create a more rounded view of each customer and drive up customer retention. Leverage this data to improve the bank's response to laws involving customer-identity verification and watch-list matching.
- Grow banking business 5%-7% per year.
- Grow overall financial-services business 10%-12% per year.
- Use better knowledge of customers to improve retention from a rate of 91% in 2000 to 94% in 2003.
- Reduce the volume of returned mail by 50%-65%.
IT Solutions Builder TOP IT RESOURCES TO MOVE YOUR BUSINESS FORWARD
Which topic are you interested in?
What is your company size?
What is your job title?
What is your job function?
Searching our resource database to find your matches...