Zoot and Strategic Software Systems Launch Actionable Data Solution for Banks
Platform provides critical access to internal customer data and realtime decisioning
June 13, 2011
Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions, announced its partnership with Strategic Software Systems at the CBA Live 2011 Conference, Shaping the Future of Retail Banking. The companies’ joint capabilities help financial institutions (FIs) unlock the customer intelligence that is housed in the myriad of databases across the bank and make it actionable.
Many FIs today rely on external data to make credit decisions because they don’t have the ability to effectively access the data in their own systems. Strategic Software Systems provides the capability to gather the most relevant data distributed across all lines of business at a FI and consolidate it into an easily accessible data mart. Zoot applies the bank’s analytics to that data and runs it in a realtime environment, facilitating the best credit decisions possible. Accessing internal data also provides more insight to the most appropriate cross-sell offers for each customer.
“Financial institutions house extensive data that is highly predictive in determining the next most likely product a customer will purchase, lifetime customer profitability and likelihood to default. It is critical for banks to be able to consolidate the right data to make the best business decisions about each consumer,” said Dennis Dixon, president of Zoot Enterprises. “Strategic Software Systems has the experience to extract the most valuable data from within the bank and easily integrates with Zoot’s decision engine to deliver optimal credit decisions.”
Strategic Software Systems supports the design and deployment of quantitative models, predictive loan loss models and risk based portfolio segmentation across all phases of the credit life cycle. Its systems facilitate comprehensive portfolio analysis, regulatory reporting and forecasting for both consumer and commercial risk portfolios.
“Banks with several million retail customers that are looking to integrate analytical horsepower into real time customer interactions will find this offering extremely valuable,” added Bill Hungerford, managing partner at Strategic Software Systems. “The ability to integrate dozens of attributes from across the bank’s product lines into credit decisions enables a new level of risk analysis and tailored product offers. It takes less than two seconds to run a credit application through the bank’s marketing algorithm and make an offer with both risk and cross-sell seamlessly integrated. Banks can now use their internal data to boost cross-sell opportunities.”
Meet Zoot executives in booth number 29 at the CBA Live 2011 Conference, June 12-14, 2011 at the Hyatt Regency Grand Cypress in Orlando, Fla.
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About Zoot
Bozeman, Mont.-based Zoot Enterprises, Inc. provides comprehensive credit decisioning, loan origination and credit risk management solutions to enable clients’ unique business objectives, leading to long-term relationships with top U.S. banks. 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 http://www.zootweb.com/blog/.
About Strategic Software Systems, LLC
