Lifetime Financial Intelligence
The Current State
The US consumers had a negative savings rate and record number of personal bankruptcies in 2005.
Home equity liquidations are at a historical high.
71% of US workers (82% of women) are extremely concerned about sudden income loss and paying bills, and 60% are concerned about making ends meet and job security1.
50% fear outliving their savings, and 74% of those aged 30–60 say they are falling behind in savings1.
Only 24% claim to feel that they are in control of their finances1.
60% of workers say they do not understand the benefit plan decisions they are making, only 28% have savings goals, and 43% say they want financial planning in the workplace1.
Over 70% of affluent persons ages 45 to 64 are moderately or extremely anxious about retirement2.
1 MetLife Study of Employee Benefits and Trends from 2004
2 2005 McKinsey study of >1,000 people ages 45+ with assets worth $250,000 - $2,000,000
The Opportunity
Financial institutions are well aware of these facts and are aggressively pursuing business intelligence solutions to better understand these trends and their customers—but is the end state another customer-centric data warehouse with improved mass marketing? This is the right direction, but it falls short of solving this problem
The Solution Framework
Affusion has been chosen by a select group of application, technology and service partners to form a revolutionary paradigm in financial services. Beyond off-the-shelf personal accounting packages, Lifetime Financial Intelligence turns Business Intelligence on its head and puts it where it should be - in the hands of the customer, with complete privacy. Lifetime Financial Intelligence allows customers personal involvement and partnership with their financial institution, on the customer’s own terms and on the customer’s timeline.
Lifetime Financial Intelligence integrates all aspects of a customer’s lifetime finances, allowing debt management, taxation optimization, retirement planning, household budgeting, and planning for leisure and life event changes.
Your Next Move
Affusion is the integrator of Lifetime Financial Intelligence. Need to introduce a truly disruptive solution to the customer-centric market before your competitor does? Contact Affusion.
2009 Oct 15