Zoot and Earnix Partner to Drive Profitable Customer Relationships for Banks
Solution integrates analytic capabilities into real-time decisioning, offer management
March 31, 2014
Zoot, a global provider of advanced loan origination, account acquisition and credit risk management solutions, and Earnix a leading provider of integrated pricing and customer analytics software for banks and insurers, today announced a new partnership at the CBA LIVE 2014 Red, White and Banking conference. The analytics and optimization capabilities of Earnix are now integrated within Zoot’s account opening solutions, providing financial institutions (FIs) with a richer, more efficient decisioning process.
“Historically, the time it takes for an FI to develop and implement new decisioning strategies is too long. With rapid shifts in consumer behavior, new regulatory requirements and increased competition from disruptors in the industry, banks need a way to respond more quickly,” said Eric Lindeen, marketing director for Zoot Enterprises. “Zoot and Earnix now offer a seamless way to combine cutting edge analytics and optimization into a real-time decisioning environment.”
Through the pre-built integration between Earnix and Zoot, financial institutions can monitor the effectiveness of their existing decisioning processes, develop new strategies, simulate the effectiveness of those strategies and implement them in the most optimal way possible – all within a single decision management framework. This seamless process allows banks to respond quickly in a changing economic environment and make the best possible decisions for every customer, including the right products at the right price.
"This is an exciting development because while many FIs are focused on figuring out the right offer and the right message for the customer, few have the ability to determine what the right price for each customer is. During the account opening process, optimizing pricing for bundled product offers could have a significant impact on cross-selling effectiveness," said Ron Shevlin, senior analyst with Aite Group, a Boston-based research and advisory firm serving the financial services industry.
“Earnix solutions help banks find predictive correlations and relationships within their data and use predictive analytics to optimize their decisions. Our partnership with Zoot enables banks to easily apply these analytic insights during their account opening and other decision making processes,” said Barak Melnik, Earnix Vice President of Products and Business Development. “A top-10 bank is already taking advantage of these capabilities; visually exploring the data generated by Zoot's decisioning system in real-time.”
Zoot and Earnix executives will be available to discuss how to implement new business strategies through a more robust decision management process at booth number 52 (Zoot) and booth number 64 (Earnix) during the CBA Live Conference, March 31-April 2, 2014 at the Gaylord National Resort.
Bozeman, Mont.-based Zoot Enterprises, Inc. is a global provider of advanced loan origination, account acquisition, and credit risk management solutions. For more than 20 years the company’s innovative tools and services model has enabled Zoot clients to meet their exact business objectives and adapt quickly to seize market opportunities. Zoot’s rapid, high-volume processing environment has the capacity to process billions of transactions per year. Visit http://www.zootweb.com or call 406.556.7555 for more information. Zoot thought leaders are now featured on zootweb.com/blog.
Earnix Integrated Pricing and Customer Analytics software empowers financial services companies to predict customer risk and demand and their impact on business performance, enabling the alignment of product offerings with changing market dynamics. Earnix combines predictive modeling and optimization with real-time connectivity to core operational systems, bringing the power of analytic-driven decisions to every customer interaction. Banks and insurers rely on Earnix solutions to improve deposit, loan, and insurance policy offerings. For more information, visit www.earnix.com.