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