Customer Insight Co. announced the availability Monday of a data base system that it claims brings a new level of analytical sophistication to small and medium-size financial institutions.
The Englewood, Colo., company, an affiliate of the consumer data base provider Metromail, built the system using the same underlying technology as Analytix, which is widely used by banks, telecommunications companies, catalogue merchandisers, and others with large data bases.
Known as Explore, the offering relies on Microsoft Windows architecture for an intuitive, plain-language screen and command structure. With 35 standard data fields and at least 100 more that users can define, Explore guides bankers through a thicket of customer, product, demographic, and profitability details, and aids in development of marketing strategies.
The system recently completed testing and was demonstrated two weeks ago at the Bank Marketing Association conference in Orlando.
Explore is said to be the first Windows-based marketing customer information file - McIF - for smaller banks. It is suitable for any institution below about $10 billion of assets, said Michael Hoffman, a New Jersey-based regional sales manager for Customer Insight.
It has been providing software based on the older DOS operating system since 1986. About 250 banks with less than $7.5 billion of assets are on a DOS product, Mr. Hoffman said. Customer Insight has 2,000 total installations; Chase Manhattan Corp. and Boatmen's Bancshares are among its bigger banking customers.
Explore has 15 modules that answer queries, perform profitability and other data-mining analyses, and generate reports, which can be integrated with the Microsoft Excel program that many bank managements rely on.
Prices of the prepackaged, or turnkey, system start at $75,000, based on the buyer's asset size. It requires a Windows NT server and client workstations that run on the Windows NT, '95, 3.1, or 3.11 operating software.
Product manager Megan Walker said Customer Insight provides a five-and- a-half-day training and implementation package, telephone assistance, and on-line support for more advanced functions.