Category Archives: Risk & Compliance

Risk & Compliance Real-Time Risk-Aware Marketing As A Service

Real-Time Risk-Aware Marketing Now Within Reach of Mid-Market Lenders

Imagine the following scenario. Tom bought an expensive house pre-GFC but then lost his well-paid job and has been struggling with the mortgage ever since. He goes online to his small state bank and up pops a home equity line-of-credit marketing offer. It’s an offer he finds pretty insulting given he is underwater on the existing loan and was just talking to the collections team a few hours ago. Mismatched offers like these hurt the customer experience and waste the efforts of lending organizations and their risk and marketing teams. While larger banks have been able to solve a lot of these problems for many years, they have been spending many millions of dollars to do so. Rolling out intelligent, risk-aware marketing informed by their own customer data or external sources such as credit scores has been complicated and expensive. Today however, a confluence of technology advances and deployment in... [Read More]

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Risk & Compliance AML on AWS: Breaking Through the Compliance “Cloud Ceiling”

Plane flying through clouds

I predicted last year that in 2017 financial crime compliance would break through the “cloud ceiling,” and we are certainly seeing more and more organizations deploying AML and KYC technology in the cloud. This is why it’s important that the FICO® TONBELLER® Siron® Anti-Financial Crime Solutions has just achieved Amazon Web Services (AWS) Financial Services Competency status.

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Risk & Compliance Gamification in the Auto Industry; Can it Drive Results?

Yu-kai Chou, is a gamification expert who spoke about gamification in Auto to attendees at the FICO Automastermind event

Guest Post: Today we have a guest post about gamification in auto from Yu-kai Chou, Founder and President of The Octalysis Group. He was a featured speaker at our Automotive Mastermind event held last month in Silicon Valley. The Octalysis Group is a gamification consultancy that assists companies to understand the core drivers that motivate people to take action and applies these to business objectives. === Driving Engagement in Experiences is a Necessity In The New World All around the world in many different industries from software to education, banking to automotive, businesses have been focused on making products that are more efficient and effective but not more engaging and interesting. To be successful in the new age of engagement, businesses need to be optimized for human motivation. Essentially, successful companies are realising the need to shift from ‘function-focused design’ to ‘human-focused design’. Human-focused design strives to answer the key question: “Why do... [Read More]

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Risk & Compliance PSD2 – Why Customer Communications Are Key

PSD2 with question mark

As I discussed in a previous blog, consumers have not been extensively educated on the impact that PSD2 will have on them. Many of the outcomes of PSD2 will be positive – the Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs) will give people access to a range of new services that will help them to manage their money better and give them more flexibility in the payment providers they use. However, the fraud prevention measures that form an integral part of PSD2 will have a knock-on effect for consumers. In some instances, security checks will make initiating a payment more difficult and irritating. Sometimes the checks may even stop it. Poor Customer Management will Impact the Bottom Line We already know that introducing friction into customer transactions is viewed negatively. Many organisations consider losses to abandoned transactions as important or more important as losses to fraud. PSD2... [Read More]

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