“Latinia’s software is instrumental to the construction of a total customer experience: secure, timely, excellent. We needed to up our game in communicating to our clients; something that could help them in their daily transactions. Latinia is the partner that allowed us to do all that” (Bank Innovation and marketing Manager).
Latinia has tasked Forrester Research a TEI™report (Total Economic Impact) that certifies that, if you opt in to our Real Time Decisions Engine solution in order to improve your bank’s service experience,you will obtain a 162% return on investment (ROI) in 5 years, and you will be able to pay off the investment made in less than 6 months. It will also generate new business by subscribing to the notifications service totalling at least $2 million per year (in the analysed example, an average-sized bank), as well as quantitatively improving the time-to-market (TTM) against your competitors (not only banks these days). All these factors will improve your service experience with your clients, which is the true battle horse of the next few… years?
Further to this, with the implementation of the Real Time Decisions Engine, you will manage to:
- Facilitate the monitoring by the bank’s business areas for the launch of the services thanks to the more than 100 predefined business rules of preloaded onto the software.
- Facilitate the monitoring of the service’s end client thanks to the self-subscription model (they decide about what, how and when they wish to be informed).
- Real-time business exploitation capacity.
- Digital service monetization.
- Increased knowledge of the client for your BI areas.
- Ease of integration with your bank application business logic.
But what is a TEI™ report?
TEI is the acronym for Total Economic Impact™, a method developed by Forrester which assesses the risks and benefits of operations linked to the implementation of new technologies in large volume businesses.
The TEI report analyses 4 essential aspects in order to draw conclusions about the suitability of implementing this new technology:
- Impact on IT investment or the project as a whole.
- Impact on the business benefits.
- The opening up of new lines of business and flexibility for the future.
- Associated risks and uncertainties.
This analysis is compiled into an exhaustive report with a holistic view and based on the clients’ experience, which helps the investor to make the most suitable decision according to trustworthy and contrasted data. It is also a personalized report that not only takes into account the average statistics of the sector that are applicable to a plethora of companies, but also specific projects.
Who compiles the TEI™ report?
Forrester Research has been tasked with compiling the TEI™. The company is, together with Gartner, the most famous and renowned IT analyst firm in the world, which the majority of corporations based their purchasing decisions on. Their credibility is their endorsement. We thought that their voice was important, and we opted for their services. This TEI™ is the answer.
What results does the #TEILatinia give?
As we said at the start, the most important outcome of the TEI™ is that the ROI or return on investment reaches at least 162% in 5 years, or a guaranteed project payback in less than 6 months, besides providing new sources of income thanks to the monetization of your digital services. If you would like to know how this calculation was made and check out the full report, where you will find many other vital elements that will convince you that investing in Latinina is a good decision for your business, visit this page and request the document.