This briefing paper examines the key issues, drivers and challenges that businesses face in achieving and exploiting a single view of their customers. The cornerstone of a single customer view is the ability to identify all the accounts and products held by a customer. Every customer wants to be treated as an individual and not as series of disconnected accounts. For organisations within financial services, telecommunications, retail, utilities and retail banking this single customer view approach will bring significant benefits. It helps organisations to better understand their customer relationships and improve customer retention, which is imperative in the current financial climate. A single customer view also allows for better targeted cross-selling and up-selling for more profitable business, whilst at the same time supporting responsible lending, and ensuring that customers are managed in a fair and compliant way. Within consumer financial services, the highest investment returns occur when customer centricity extends to risk management and offers the added bonus of offering the prospect of decreased capital needs. This briefing paper explains the meaning and implications of a single customer view, how it can be achieved and the many benefits it can bring to an organisation, from simple regulatory compliance through to enhanced customer service and greater profitability.

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