In an era where the customer is king and personalization drives business value, the banking industry has been slow to achieve the level of data liquidity they need in order to stay relevant. In this infographic, we explore: The current data landscape in banking, and the problems it poses in terms of customer experience, sales, … Continue reading [Infographic] How well do banks know their customers?
Unlike most lines of business at the bank, the cards division doesn’t have much latitude when it comes to hitting ROI targets. Your revenues depend almost entirely on net interest, interchange fees, and late fees. Customers are segmented in Cartesian categories based on spend (high, low) and payment behaviour (before due date, after due date, … Continue reading How banks can boost purchase volume on their credit cards with digital receipts
This is is a syndicated post. You can find my original post on LinkedIn 2017-01-11 So you’ve got a billion-dollar idea that you think will revolutionize financial services? You’re not alone. Truth is, there’s no shortage of fintechs pitching “must-have” groundbreaking products to banks that never even make it through the bank’s pipeline. The ideas and … Continue reading Here are the 5 things I tell fintechs who want to partner with banks
This is a syndicated post. You can find my original post on LinkedIn 2016-11-29 43% of customers believe their primary bank does not understand their needs. (Cisco, 2016) We’ve all come home to stuffed mailboxes filled with offerings for a card we already have, or for a mortgage we don’t need. At best, people toss the mail in … Continue reading How digital receipts can drive personalization for banks