Keyword Tag CloudAlternative Data Analytic Models Automation Branch Banking Cost Reduction Credit Card Credit Card Regulations Credit Risk Policy Cross-sell Customer Friction Customer Intimacy Customer Service 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 Security Transparency Trust Underbanked
There are new mobile capabilities announced daily for many industries and banking is no exception. While the adoption of mobile banking is still a slow movement, with companies like Snapchat filing trademarks to offer mobile payments services financial institutions must be prepared to meet consumer demand for this channel. What many are discovering is that … Continue reading →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
Zoot recently helped one of our strategic partners—Endeavour—demo their new mobile account opening solution, MobileAO, at the Finovate show in San Jose. Endeavour designed and built the native mobile app, while Zoot provided the back-end decisioning and account onboarding capabilities.
The video of our demo and a few observations of mine from the show … Continue reading →
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 →