Tag Archives: Analytics

Customer Engagement Challenges Banks Face in Acquiring Customers in a Digital-first Era

Banks and customers
Nov142018

In my role at FICO I have the privilege of engaging in strategic planning discussions with senior banking executives across the globe. Most of these meetings as of late are similar: We are improving the customer on-boarding user experience, both through improved user interfaces, but also through improved analytics to bring everything we know about the customer to bear in our interaction…regardless of product line or channel. Right now we are working on our data lake. At which point, I nod. Then I ask: OK, so who is in charge of the customer journey that you are transforming? At a strategic level, banks understand the challenge they are facing and where their organizations need to go in order to thrive. At a tactical level, the decisions become much more complicated. Who owns the customer? Is that new data source worth the risk of potentially slowing down my origination process? How seriously... [Read More]

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