Finding that insider to champion analytics

Analytics can help address both the critical problems of today and the unpredictable issues of tomorrow. You want information and capable people responsible for raising flags and diagnosing the underlying causes of emerging issues before they become critical. Analytics enablement positions you to detect and put out sparks before they are fires.When considering analytics, many financial institution Read More

By |2020-05-27T18:16:23-05:00March 11th, 2020|Comments Off on Finding that insider to champion analytics

Taming data is key to the sales strategy at banks

The words “sales data strategy” can seem overwhelming to even the most seasoned sales executives. The right sales data strategy can provide sales leaders, managers, and salespeople with insights to make more informed decisions and drive better results.A sales data strategy is a documented plan that provides a structured framework for sales organizations to effectively manage and Read More

By |2020-05-27T18:16:25-05:00February 4th, 2020|Comments Off on Taming data is key to the sales strategy at banks

No more drowning in the data lake: Framing the journey to support your business needs

Today’s financial services providers seek a competitive advantage as they develop and deliver innovative products and services to customers. And to accomplish this, they analyze large volumes of data as the foundation for success. Your company is no exception. You’ve invested heavily to create the infrastructure that unites disparate data and analyzes it. Yet often, that expected Read More

By |2020-05-27T17:58:08-05:00May 6th, 2019|Comments Off on No more drowning in the data lake: Framing the journey to support your business needs

Podcast: Paths to profitable digital partnerships

Many banks now believe it’s a great idea to work with fintechs. Yet smart caution and compliance don’t always square with life in the high-tech fast lane. Likewise, fintechs often lack the needed experience to make bank partnerships work. Ben Schack, leader of U.S. digital partnerships at BMO Financial Group, shares how banks can guide and mentor fintechs to Read More

By |2020-05-27T17:58:14-05:00December 4th, 2018|Comments Off on Podcast: Paths to profitable digital partnerships

Podcast: Winning the data game

Big data is huge—literally—as a game changer in the financial services industry. Yet the smart use of data comes with a host of concerns, ranging from best security practices to getting it out of the silos where it too often hides in plain sight.  Clark Richey, chief technology officer at FactGem, shares his top strategies to collect, protect Read More

By |2020-05-27T17:58:14-05:00November 27th, 2018|Comments Off on Podcast: Winning the data game

How to drive strong revenue growth in a thin-margin era

To create operating leverage or grow revenue faster than expenses represents the essence of business. And with compressed margins the new normal, it’s an economic necessity to lift or accelerate growth trajectory. Thus in a thin-margin business, stimulating top line revenue growth amounts to a priority for every financial institution. The law of diminishing returns Taking a Read More

By |2020-05-27T17:58:42-05:00December 13th, 2017|Comments Off on How to drive strong revenue growth in a thin-margin era

Working the numbers: How data aggregation will impact digital banking’s future

Once considered the only option to complete financial transactions, the traditional bank branch has been augmented by the era of online banking. More than 90 percent of consumers under the age of 35 actively use online banking, while 27 percent would consider using a branchless digital bank. What has powered this transition?  It’s digital transformation driven by Read More

By |2020-05-27T17:59:40-05:00August 1st, 2017|Comments Off on Working the numbers: How data aggregation will impact digital banking’s future

The new quantify behind qualify: Better data and the consumer credit revolution

A customer walks into a bank to apply for a car loan and finds out they don’t qualify. What happens next? Usually, the bank issues a rejection letter—and indeed, the customer feels rejected. Then the customer possibly (or probably) applies for credit at a different bank … and the original bank is in turn rejected: They never Read More

By |2020-05-27T17:59:41-05:00July 17th, 2017|Comments Off on The new quantify behind qualify: Better data and the consumer credit revolution

Podcast: How banks can lead consumers to financial wellness

Financial wellness has come to public consciousness as consumers look for better ways to take control of their finances. But what can banks and financial institutions do to ensure a successful journey? Jennifer Tescher, the founder and CEO of the Center for Financial Services Innovation (CFSI), outlines the big wins possible when banks and consumers work in Read More

By |2020-05-27T17:59:42-05:00July 7th, 2017|Comments Off on Podcast: How banks can lead consumers to financial wellness

The definitive data dilemma: Community banks and the struggle to bag big benefits

Everyone has heard comments such as these: “Data is your greatest asset.” “If you don’t learn how to leverage your data, you’ll get left behind.” “Your number one technology challenge is to get control over your data.” But is it really true for community banks? If so, why are so few doing anything about it? Data update: Read More

By |2020-05-27T17:59:42-05:00June 26th, 2017|Comments Off on The definitive data dilemma: Community banks and the struggle to bag big benefits

Three tactics to best utilize data and behavioral analytics

Financial services organizations have access to some of the richest data and behavioral analytics around. They know how people bank, borrow, save, transact and live their financial lives. But most organizations have limited ideas about how to harness that data, build strategies around it and use it to shape future performance. Thus more than ever, it pays to Read More

By |2020-05-27T17:59:45-05:00May 9th, 2017|Comments Off on Three tactics to best utilize data and behavioral analytics

How customer data brings fresh air to wallet share

Today’s banks find themselves in a fight to become a customer’s first choice for growing, changing financial needs. Thus financial institutions should have the highest sense of urgency when it comes to taking a customer-focused approach; they face a myriad of competitors that include mega banks, startups, FinTechs and cheap lenders—all eager to get to know your Read More

By |2020-05-27T17:59:45-05:00May 8th, 2017|Comments Off on How customer data brings fresh air to wallet share

Start your analytic engines: Unsupervised analysis catches true credit risks, tightens cybersecurity

Individuals and organizations tend to act cautious—extremely cautious—during and immediately after a crisis. Yet too much caution can create a mini-crisis of its own: making firms so defensive that they reduce risk well beyond a safe margin of error.  After the 2007-2009 meltdown, financial firms were so concerned about taking on too much risk that they rejected Read More

By |2020-05-27T17:59:46-05:00April 27th, 2017|Comments Off on Start your analytic engines: Unsupervised analysis catches true credit risks, tightens cybersecurity

Podcast: Banking, big data and analytics

Do FinTech companies take full advantage of data analytics? One would think, but a new report from the Technology Association of Georgia suggests otherwise. On this episode of the BAI Banking Strategies podcast, we talk with Don Campbell, a contributor to the TAG Fintech big data report, "Data Analytics: Big Data in Financial Services," and the president Read More

By |2020-05-27T17:59:46-05:00April 14th, 2017|Comments Off on Podcast: Banking, big data and analytics

Outreach the breach: Three strategies card issuers can’t ignore in confronting data compromise

At last count, North America was the continent most affected by data breaches—accounting for 1,164 or 76 percent of breaches in the world. Fifty-four percent of those 2014 breaches related to identity theft; 17 percent to financial access; and 11 percent to account access. And in that year, 32 data records were lost or stolen every second—averaging Read More

By |2020-05-27T17:59:47-05:00April 10th, 2017|Comments Off on Outreach the breach: Three strategies card issuers can’t ignore in confronting data compromise

Best practices make perfect: Customer perspectives on sales and financial services

If you follow the headlines about aggressive sales practices in the financial services industry, you might think our nation’s retail banks and investment advisory offices have become sales-obsessed pressure cookers focused solely on moving new product. Fallout from the Wells Fargo scandal and rhetoric surrounding the Department of Labor’s Fiduciary Rule have done much to support that Read More

By |2020-05-27T17:59:47-05:00April 6th, 2017|Comments Off on Best practices make perfect: Customer perspectives on sales and financial services

Marketing’s Role in Revenue Growth

Many bank executives still view marketing as the champion of brand building, essentially a middleman that funnels leads to sales and adds little value to the bottom line. But new digital capabilities are dramatically expanding marketing’s role in banking, which is morphing from a cost center into an engine for top- and bottom-line revenue growth. Perhaps more Read More

By |2020-05-27T17:59:50-05:00February 1st, 2017|Comments Off on Marketing’s Role in Revenue Growth

Drowning in data, starving for insight: Starting the customer analytics journey

Customer analytics has received a lot of attention at banks in recent years. Banks possess a plethora of data on their customers, in many cases already collected in data warehouses for regulatory compliance. And this suggests there must be value to extract from all that information. But what data to use, exactly? And to what end? Indeed, Read More

By |2020-05-27T18:00:02-05:00December 15th, 2016|Comments Off on Drowning in data, starving for insight: Starting the customer analytics journey

The direct approach: Using strategy and data analysis to guide direct marketing

Many banks approach account generation as a gamble: Spend enough money on marketing and existing customers will hopefully sign up for a new product, or new customers will open accounts. But this approach creates needless risk that can waste significant money on ineffective marketing campaigns. So hold the dice: There’s no reason a financial institution’s marketing efforts Read More

By |2020-05-27T18:00:03-05:00November 18th, 2016|Comments Off on The direct approach: Using strategy and data analysis to guide direct marketing