FarSight

The FarSight application puts customer profitability at your finger tips. All bank employees will have access to the overall profit picture of a customer. What types of accounts the customer has and the profit components for each account.

The application can display a customer or a group of related customers to provide combined information. The current and historical profit information of a customer or group of customers can be viewed and charts are provided to easily view trends in the customer's Profit, Fee Income, Margins, etc.

FarSight can quickly help you understand why a customers profit may have changed over time. It will help you discover reasons such as decreased overdraft charges or declining loan balances and help you find opportunities to offer new products to existing customers.

Along with profitability research FarSight also provides a pricing tool. Hypothetical data can be entered to determine what pricing scenarios are profitable based upon customer needs.

All components of the profit equation are variable in this model. Employees will be able to test the impact of pricing decisions on an individual account and customer levels.

Scenarios can be created for both loan and deposits accounts meaning that not only can loan officers price thier loans correctly, but deposit gatherers can ensure that the rates the bank pays are competitive, but not above the rates of outside funding sources.