Keyword Tag CloudAlternative Data Analytic Models Apple Automation Branch Banking Cost Reduction Credit Card Credit Risk Policy Cross-sell Customer Friction Customer Intimacy Customer Service debit card Decisioning Demand Deposit Account Durbin Amendment Financial Crisis Fraud Generation Y Innovation Instant Prescreen IT Investment Lifestyle Banking Mobile Banking Online Banking Reputation Management Risk Management Transparency Trust Underbanked
Providing great customer service to build loyalty seems like common sense and yet many banks struggle to master it. Businesses that are most successful at creating loyalty don’t wait for something bad to happen to engage with their customers. They capitalize on opportunities to show customers they matter when they least expect it.
The Good… Continue reading →
“It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able to adapt” —Leon Megginson
This quote causes me to think about the payments industry and the future of merchant acquiring. It may seem obvious, but the … Continue reading →
While on a recent business trip to attend a conference I noticed lines everywhere—airport security, cabs, hotel check-in, show tickets, restaurants. I was constantly waiting. I was really thankful that I don’t drink coffee after passing the Starbucks in my hotel every morning and seeing a line wrapped around the store and down the hallway. … Continue reading →
I have to come clean. I’m a member of Generation Y and up to this point I have also been a staunch defender of branches in the great branch vs. mobile debate. I know this makes me a traitor to my generation, but I’ve always thought that branches would hold out against the onslaught of … Continue reading →
Some leading credit card issuers are using a new technique to approve customers. This underutilized tool is called prequalification and has been used in the mortgage space for years. Marketers at financial institutions already have a number of acquisition tools, including consumer-initiated decisioning and prescreen. Let me show you why prequalification should be part of … Continue reading →
My colleague recently wrote about a product demo given by RevolutionCredit at the Finovate conference. The company has created a gamified financial empowerment platform that claims it will revolutionize credit decisioning. While my colleague doesn’t buy into that claim overall, he sees the value the solution could bring to young adults and others with a … Continue reading →
Dr. Steve Coggesshall’s presentations are well known for being rich in data and perspective. This year’s presentation at ID Analytics’ Advance conference by Dr. Coggeshall took an interesting turn. He focused on Big Data, but surprisingly his presentation was completely devoid of data. Instead, he shared a unique perspective on the potential collision between the … Continue reading →
This has certainly been the year for big data hype. With the volumes of data banks have about their customers the biggest challenge seems to be discovering the most efficient way to boil it down and make it useful. Finding the right data may seem like finding a needle in a haystack, but here’s a … Continue reading →
I attended the FinovateFall 2013 conference in New York a couple of weeks ago. The conference features dozens of innovative financial services technology providers demoing their latest and greatest products. Each company gets exactly 7 minutes to show what they’ve got (and the events folks at Finovate are serious about that window…I saw a presenter … Continue reading →
Well, that was fast.
It seems like just yesterday we were debating the virtues of the NFC-enabled mobile wallet—a new category of payment products championed by giants like Google and VISA and AT&T. The idea was that a consumer would pay for stuff via a virtual credit card stored digitally in a “wallet app” on … Continue reading →