Keyword Tag CloudAlternative Data Analytic Models Automation Branch Banking Cost Reduction Credit Card Credit Card Regulations Credit Risk Policy Cross-sell Customer Intimacy Customer Service debit card Decisioning Demand Deposit Account Durbin Amendment Financial Crisis Fraud Generation Y Innovation Instant Prescreen IT Investment Lifestyle Banking Loan Origination System Mobile Banking Online Banking Reputation Management Risk Management Transparency Trust Underbanked
If you started reading this post but are thoroughly confused by the title, I admire your inquisitiveness and vow to do my best to clarify the point. Some of you might not recognize the term “address discrepancy”, so let’s start there. In consumer lending when a credit report is pulled, an address discrepancy describes … Continue reading →
In evolutionary biology, a maladaptation is a trait that has become more harmful than helpful thanks to changes in an organism’s environment. An easy example is polar bears in the arctic—forced to swim further and further distances to find food thanks to a warmer climate melting the arctic ice flows.
When I look at the … Continue reading →
It started subtly, but has been gaining momentum in recent months. Attributes, once obscure and little understood, are becoming more common and integral in lending processes. If you’ve heard people talk about attributes, but never really understood what they meant, this column may provide the insight you need to understand how attributes are changing the … Continue reading →
While retailers have been incorporating geofences into their mobile marketing campaigns for a while now (you can read the results from the pilot program Locaid did with Alliance Data here), the adoption of geofences is a fairly new practice in the financial services industry. And those banks and organizations that are incorporating these layers of … Continue reading →
Trivia question—What do the following companies and products all have in common?
PayPal Debit Mastercard
Suze Orman Approved Prepaid Card
If your answer was “disrupters in the financial industry”, then you are correct. If your answer was “pioneers in online/mobile banking, personal financial management (PFM), and product design”, then you … Continue reading →
Banks are constantly searching for ways to differentiate themselves from their competitors. Every bank, no matter its size, can find a way to use data and analytics to provide them with a competitive advantage. Here is an overview of best practices that can be employed to meet your bank’s specific needs, including recent advances in … Continue reading →
30% of U.S. consumers are not price sensitive.
That’s a stat that I heard during a presentation titled “Leveraging Data, Analytics and Tools to Overcome Retail Deposit Challenges” at this year’s CBA Live Conference in Phoenix and it caught the attention of every banker in the room. It’s easy to understand why. Faced with new … Continue reading →
In Zoot’s 2013 financial predictions, big data was forecasted to be a game changer for the industry. The applications of big data are varied and skeptics abound. It’s possible that the term is simply a buzz word that will slowly fade away when the next one rolls around. However, it’s impossible to discount that industry … Continue reading →