Providing Purpose for Bank Customers

Topics: Customer Experience
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At a recent financial industry conference one of the presenters commented that he’s always surprised when people say that the purpose of a business is to make money. While making a profit is necessary, he encouraged the audience to think about their higher purpose—doctors heal patients, architects design structures, bankers provide financial well-being. His point … Continue reading →

An In-Depth Discussion of Trusted Online Identities

Zoot Staff Contribution
Topics: Trends

Empowering consumers to have trust and confidence in online interactions is an emerging challenge. They want the convenience this channel offers and an easy, secure manner to prove their real identity. How can this be accomplished? James Varga, CEO, miiCard, shares his expertise in the realm of secure online identities and what miiCard is doing … Continue reading →

The Next Big Thing: The Unhappily Banked

Topics: Trends
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Our industry is very familiar with the terms unbanked and underbanked, but there is another group that deserves our attention—the unhappily banked. Surprisingly, research by Viacom paints a grim picture that the largest generation of consumers in American history do not think current banking products meet their needs. The same study reveals that the vast … Continue reading →

Highlights from the Banking Analytics Symposium 2014

Topics: Trends
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During the 2014 Banking Analytics Symposium I moderated a panel titled Analytics in a Mobile-First World featuring Jackie Buonassisi, vice president, internet and mobile channel group, U.S. Bank, and Larry McClanahan, vice president, digital delivery, Fifth Third Bank. These bankers provided insight to one of the hottest topics in our industry right now; mobile. There … Continue reading →

Using Analytics to Improve Self-Service

Topics: Customer Service
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Financial institutions (FIs) are keenly aware that customer interactions through self-service channels such as ATMs, online, and mobile cost less than person-to-person interactions in the branch or call center. Applying analytic models gives FIs insight to consumer behavior and what drives them to a particular channel. The outcome is the ability to provide a better … Continue reading →

The Evolution of Data Management into Analytics

Topics: Competitive Advantage, Customer Experience
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It wasn’t long ago that we dreamed of having more data. Oh the problems we would solve. We quickly went from database to data-mart to data-warehouse to big data. Of course, we just learned that more data brings a host of new challenges. Soon, volume, velocity, and veracity will be solved. What’s next? Changing the … Continue reading →

Got wallet share? Make sure you have the technology to keep it.

Topics: Customer Acquisition and Retention, Customer Experience, Technology
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Gaining wallet share is important to banks because they want to ensure their best customers don’t leave them for a better offer down the street. I’m aware of a local credit union that succeeded in capturing a consumer’s accounts, then ultimately failed. There is a valuable lesson to be learned from this example—inflexible policy and … Continue reading →

Analytics in a Mobile-First World: A Preview of the Banking Analytics Symposium

Topics: Trends
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At the Banking Analytics Symposium next week, industry thought leaders will be coming together to discuss how they are using data and analytics to connect with customers, manage risk and drive profitability. Sessions will include: how to compete with non-banks, practical applications of predictive analytics and mobile-first strategies. These rich discussions will answer many questions … Continue reading →