Instant Prescreen Demand is Driving New Capabilities

Topics: Customer Acquisition and Retention, Customer Experience
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Instant prescreen has been around for more than two decades. This highly effective approach to customer acquisition and cross-sell has new innovations that further enhance its value to financial institutions (FIs). Alternative data is being incorporated into prescreen decisioning processes and now there are nine FCRA compliant data sources that can be used to provide … Continue reading →

Instant Prescreen: I do not think it means what you think it means.

Topics: Customer Acquisition and Retention
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There are a few phrases that people use with great confidence, even though their understanding might be quite inaccurate. During a few recent conversations, I’ve realized that “Instant Prescreen” is one of those phrases. Perhaps due to claims of misinformed vendors or its seeming similarity to older prescreen techniques; it is radically misunderstood by many. … Continue reading →

Is There an App for That? Replacing Branch-Based Financial Advice

Topics: Customer Experience, Trends
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Branch banking is dying. Shifts in consumer behavior coupled with the rapid adoption of smart mobile devices and other self-service technology have been slowly, but inexorably chipping away at the value propositions of the branch.

The numbers bear this trend out. According to industry experts, there has been a 50% decline in monthly branch banking … Continue reading →

Why Credit Attributes Should Matter to Bank Marketers

Topics: Credit Risk Management, Customer Acquisition and Retention
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The ranks of marketers who focus on analytics to build their brands and increase sales is growing rapidly, yet many bank marketers steer clear when the topic of credit attributes comes up. To be sure, much of the science behind creating credit risk policy seems to have little in common with marketing campaigns. However, recently … Continue reading →

Time to Change Indirect Auto Lending

Topics: Competitive Advantage, Customer Experience, Regulations

My brother and I had a lot of chores when we were growing up and, like all kids, we did everything we could to avoid them. At some point however, the polite requests and subtle reminders stopped and my parents would move to enforcement. To my brother’s frustration, I could always recognize the moment right … Continue reading →

Payment Security Goes Beyond EMV

Topics: Fraud, Technology, Trends
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The Target breach of 2013 has created an urgency to respond to credit and debit card fraud. The clear contender in this move for change is the implementation of EMV technology, but there’s more to consider. The Target breach would have occurred even if EMV had been in place. The breach was in the systems … Continue reading →

How to Encourage Adoption of Mobile Banking

Topics: Customer Experience, Technology, Trends
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Bankers can no longer deny the shift towards mobile banking. Because of this, many are integrating mobile banking services into their technology, but are left wondering how to encourage customer adoption. Consumers say they are waiting for their bank to increase mobile services, but even then, many aren’t aware of what their bank offers. One … Continue reading →

Building Trust by being Relevant

Topics: Customer Experience, Customer Service
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It takes years to build trust and only a second to lose it. This was the message delivered during a presentation at a recent financial industry conference. Powerful words with a very real impact for any business whether it’s a retail store, restaurant, airline or bank. Building that trust comes from creating a customer experience … Continue reading →