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- Trends (42)
- Customer Acquisition and Retention (42)
- Customer Experience (41)
- Technology (33)
- Account Opening (29)
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Tag Archives: Instant Prescreen
Offers, Offers Everywhere, How to Drive Acceptance
Topics: Customer Acquisition and Retention
Tagged: Alternative Data, Cross-sell, Decisioning, Instant Prescreen
We all receive those credit card offers by mail that proclaim balance transfers at zero percent interest, a free airline ticket just for signing up, cash back on all purchases, platinum status upgrades and a plethora of other enticing reasons why we MUST have that card. Most of the offers I receive end up in… Continue reading →
Never Say No
Topics: Account Opening, Customer Acquisition and Retention
Tagged: Alternative Data, Analytic Models, Customer Service, Instant Prescreen, Second Look Decisioning
When a consumer applies for a financial institution’s (FIs) product, they are validating the tremendous investment that the FI made in designing and marketing the product to that consumer. The consumer is essentially declaring that, after careful consideration, they are willing to spend their time and energy applying for this product because they are convinced… Continue reading →
How Can Instant Prescreen Transform Retail Credit Cards?
Topics: Account Opening, Customer Experience
Tagged: Credit Card Regulations, Customer Service, Instant Prescreen, Retail Credit
We know that retailers can increase their revenue and customer loyalty if they can get their own retail-branded credit cards into their customers’ hands. It makes sense. If consumers who sign up for your credit card get a discount on that day’s purchases, it’s logical to assume that those consumers will buy more stuff. If… Continue reading →
Bringing Profitability Back to Demand Deposit Account Opening
Topics: Account Opening
Tagged: Alternative Data, Cross-sell, Demand Deposit Account, Instant Prescreen
New regulatory requirements and consumer behavior changes are challenging the traditional profitability model of demand deposit accounts (DDAs). In fact, TowerGroup predicts banks will lose $25 billion annually in overdraft and interchange fees due to new regulations. In response to the changing retail demand deposit landscape, Zoot launched a new solution designed to bring profitability… Continue reading →
Ending a Vicious Circle: Using Sales Scripting and Analytics During Cross-sell
Topics: Account Opening, Customer Acquisition and Retention, Customer Experience, Technology
Tagged: Analytic Models, Cross-sell, Customer Service, Instant Prescreen
Banks want to cross-sell. We know that the concept of cross-sell makes sense. You present relevant cross-sell product offers to your most valuable customers, the customers accept, you capture a greater share of the customers’ wallets and increase their loyalty to your institution. It makes perfect sense … in theory.
The problem is that in… Continue reading →
Adopt Enterprise Cross-Sell, Your Customers Will Thank You
Topics: Customer Experience, Trends
Tagged: Cross-sell, Customer Intimacy, Customer Service, Instant Prescreen
Enterprise cross-sell® was an emerging trend back in 2007. Several financial institutions were talking about it and looking for ways they could be more consistent across all lines of business within the bank— including consistency with attributes, credit decisions and making intelligent cross-sell offers. When the Great Recession took hold, the brakes were put on… Continue reading →
Technology: The Silver Lining in the Banking Crisis Series – Customer Service
Topics: Customer Experience, Technology
Tagged: Customer Service, Decisioning, Instant Prescreen
With consumer confidence at an all time low, there absolutely has to be a focus on first-rate customer service, maintenance won’t be enough. Consumers are looking for great service and a bank they can trust. That means banks need to ensure they are doing all they can to keep the customers they have happy in… Continue reading →