bank

Analytics run amok?

February 3, 2009

Joe McKendrick pointed me to a story on ABC News today -  ‘Good Morning America’ Gets Answers: Some Credit Card Companies Financially Profiling Customers. The story is worrying and has some good reporting in but, as usual, the analytics behind the whole thing are poorly described.
So, first things first. The headline gets us off on [...]

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First Look – Predigy

November 20, 2008

Predigy is a technology originally developed by Intelligent Results (founded in 2001) that was acquired by First Data in 2007. It was originally focused on the military (particularly on the analysis of unstructured data) but has subsequently moved into commercial applications. Predigy is now a decisioning platform with some applications in banking, collections, telecommunications and [...]

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Using decision management to prepare for an unknown future

November 18, 2008

Recently, Ronan Bradley discussed the challenges for banks in the area of compliance, given the rapidly changing environment. He made three specific points with which I agree and that I think shows the value of a decision management approach for banks and others facing an unknown but difficult regulatory environment in the next year or [...]

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White Paper available on decision management in credit

September 15, 2008

I wrote an introduction (and a brilliant one if I do say so myself) for a white paper called “Using Automated Decisioning and Business Rules to Improve Real-time Risk Management” that was produced by the folks at Equifax. You can download it using the link to the US Banker page. Enjoy.

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Is eBank the future of banking?

July 16, 2008

Thanks to my friends at Bankwatch I heard today about eBank in Japan. The bank is described in this nice article on swiftcommunity.net. What struck me about this was the focus on complete automation of decision making – not just the processes and information colleciton, but the decision making itself. Is this the person they [...]

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The future of consumer banking needs EDM

July 11, 2008

Naumi Haque wrote this nice piece on The future of consumer banking and it struck me how many of the things she suggests, with which I agree, require a broad-based adoption of EDM.
For instance she suggests a single financial cockpit – she calls it a dashboard but she wants to be able to do things [...]

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Here’s a really cool way to use your ATMs!

July 2, 2008

Reading 1:1 today I saw a great story about Gulf Bank called Overcoming Customer Interaction Roadblocks. This bank has a problem because it’s customers can’t get mail. How does it address this? By using it’s ATMs as a delivery device for messages! Putting relevant, timely, personalized information on the ATM when you use it. No [...]

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Banks, analytics and customers

May 12, 2008

Having just written a post about how vague the word analytics is, I see Ann All’s post Banks Using Analytics to Boost Customer Retention. What’s interesting about Ann’s post is not that she makes it clear what kind of analytics she is discussing but that almost any of the various kinds of analytics can [...]

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Live from InterACT – Closing Keynote

April 30, 2008

Ted Iacobuzio of TowerGroup gave the closing keynote, expanding on the survey results Fair Isaac announced today. More than 100 of the InterACT attendees took the survey – clearly this is top of mind. Some highlights:

Lenders appreciate the need for integrated customer information and multi-product decisioning
Lenders are not all at the same speed in implementation
Respondents [...]

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Live from InterACT – An Enterprise Decision Engine for Originations

April 30, 2008

Wednesday begins with Antonio Paulo Conde from Citibank Brazil talking about an enterprise decision engine for originations in their retail bank.   Measuring and understanding the risk of new financial products is important and became more so as the sales teams gained more negotiation power. To address this Citibank used Blaze Advisor to build an [...]

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Live from InterACT – Optimal Pricing

April 29, 2008

Last full session today is Lisa Kart and Jean Zoch of Fair Isaac talking about optimal pricing – balancing profitability with competitiveness. Lisa’s focus, she says, is on what makes price optimization work. Price optimization is a very broad topic, even in financial services, but their focus is on being able to target price for [...]

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Live from InterACT – The Mortgage Crisis

April 29, 2008

Interesting session on the Mortgage Crisis next, subtitled “Implications for a Global Economy”. Joe Breeden of Strategic Analytics and Daniel Melo of Fair Isaac. Joe started by saying that this is the 3rd time this has happened in the last 16 years. And, as before, it’s not just about mortgage and it’s not just about [...]

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Is your ATM a sales channel yet? And should it be?

April 4, 2008

My friends over on the Diamond Analytics blog posted an update to an old post today where they talked about some recent instances where the ATM is being used as a sales channel. Ron Shevlin had a good comment on the original post about the appropriateness of the channel given queues, screens etc. so I [...]

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Book Review – Chocolates on the pillow aren’t enough

May 8, 2007

Chocolates on the Pillow Aren’t Enough: Reinventing The Customer Experience
I have just finished Jonathan Tisch’s book Chocolates on the Pillow Aren’t Enough: Reinventing The Customer Experience.The author is Loews Hotels chairman and CEO and is clearly very knowledgeable about the customer experience and how to improve it.
The book has two main sections – a problem/solution [...]

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