Innovative Software Helps Financial Institutions Understand How to Grow High-Value Relationships More Effectively
SKOKIE, Ill. – June 20, 2018 – Kaufman Hall announced today the upcoming release of the Axiom Relationship Profitability and Pricing System™ (RPPS), which will allow financial institutions to manage customer relationships, analyze associated profitability, and accurately price new business in a single solution. Kaufman Hall is a leading provider of enterprise performance management and decision support software, and management consulting services.
“Relationship managers in a financial institution seek to understand each customer’s scope of influence, and the real-time profitability impact of pricing new business. Institution management also needs to better gauge progress toward strategic goals,” said Ryan Neese, Vice President and Financial Planning and Analysis Manager at Lake City Bank. “Axiom RPPS will help us achieve these important business performance improvements, so we are excited to be working with Kaufman Hall as a member of its product advisory board.”
In a recent survey of senior finance leaders in 179 banks and credit unions conducted by Kaufman Hall and the Financial Managers Society (FMS), 91 percent of respondents feel their institution should be doing more to leverage profitability analysis to inform strategic decisions. Key functionality in Axiom RPPS answers this need by enabling relationship managers and institution leaders to build and actively manage complex relationships; precisely measure and analyze profitability for each account, customer, and relationship; appropriately price new business in real time; and produce related profitability reports. The product will operate independently, although clients using the Axiom Financial Institutions Suite will also be able to leverage its data and functionality to gain comprehensive profitability analysis across relationships, customers, products, channels, business lines, and other dimensions.
“Relationship managers must be able to identify, monitor, and nurture their high-value relationships as well as pinpoint less profitable relationships that require additional focus,” said Ken Levey, Vice President of Financial Institutions at Kaufman Hall. “Axiom RPPS gives banks and credit unions an important tool to support retention of their best customers/members and fuel profitable business growth.”
Kaufman Hall invests in innovations such as Axiom RPPS to answer unmet client needs for information that help drive business success. It is a leading factor in the rapid growth the company has experienced in its financial institutions vertical. Recently added new customers for the Axiom Financial Institutions Suite include TBK Bank, Seacoast National Bank, Apple Bank for Savings, Allegiance Bank, Patelco Credit Union, and Great Lakes Credit Union.
"We are excited about the time savings, scalability, and ease of maintenance available with the Axiom Financial Institutions Suite,” said Luke Wyse, Senior Vice President, Finance and Investor Relations, TBK Bank, SSB. “From a technical perspective, Axiom integrates easily with Excel, utilizes relational models, and eliminates the need for consolidations, all of which were key in our decisioning process. We were pleased to find the Kaufman Hall team comprised of former finance and banking professionals who understand our business, and that the reference customers provided were real, high-performing financial institutions who had already solved our pain points with the Axiom solution.”
To learn more, browse our RPPS solution.
About Kaufman Hall
Kaufman Hall provides software and advisory services to help financial institutions realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods into their strategic planning and financial management processes, and quantify the financial impact of their plans and strategic decisions to consistently achieve their goals.
Kaufman Hall’s Axiom Financial Institutions Suite provides sophisticated, flexible performance management solutions for banks, credit unions, and farm credit associations that empower finance professionals to analyze results, model and forecast scenarios, and optimize organizational decision-making. Solutions for strategic decision management, budgeting and forecasting, funds transfer pricing and profitability management, reporting and analytics, and incentive compensation management are delivered on a single unified platform.