Justin M. Morcelle, SVP-Director Deposit Product Management, FIRST NIAGARA BANK
Avi Patel, Chief Marketing Officer, FULTON FINANCIAL CORPORATION
Betty Cowell, Managing Partner, BANK EARNINGS SOLUTIONS
Daniel Dent, SVP, Consumer Deposits and Emerging Payments, FIRST TENNESSEE BANK
Across all businesses, proper pricing is a critical part of any value proposition, and whether you are selling a pizza or a savings account, you need information about costs, competition and demand to properly set prices. In banking, pricing analytics has largely been led by the big banks who can afford teams of statisticians, developers and analysts. However, community and regional banks are finally able to advance their own pricing capabilities by compiling bank, market and customer data in simplified but powerful ways to identify trends, set and test rates, and monitor results. As rates start to move, so will customers in the market, and you will need affordable ways to stay ahead of the competition.
In this session you’ll hear from bankers and Novantas about how to:
• Leverage the natural and often untapped competitive advantages that community and regional banks have over larger institutions
• Use the 3 core analytical components that improve pricing for both deposits and loans
• Improve deposit pricing in today’s rate environment
• Drive loan demand growth, with the same level of risk
• Simplify the data wrangling and institutionalize the pricing process to increase team productivity, while ensuring consistency and compliance
Deva Annamalai, SVP of Marketing Technology and Analytics, ZIONS BANK
Steven J. Ramirez, CEO, BEYOND THE ARC, INC.
While there is no shortage of customer data, banks are finding that simply collecting the data is not enough. The key question plaguing many of today’s financial institutions is once they capture the data, how can they separate what’s valuable from the noise? The challenge is to leverage this information to enhance their business and the way they serve their customers.
In this presentation, Steven Ramirez, CEO of Beyond the Arc, and Deva Annamalai, senior vice president of marketing technology and analytics for Zions Bank, will provide insight on first-hand case studies and valuable best practices financial institutions can incorporate into their existing business strategy to better make use of available big data sources and easily unlock the hidden value in their customer data. Key topics discussed include:
Utilizing big data—social media, text analytics, machine learning, etc.—to better satisfy customer needs and attract new business;
Identifying customer triggers, either a willingness to buy a new product, or a warning sign that a customer may leave the bank; and
Best practices for analyzing social media and customer data to capture the most valuable information.
Moderator: Charles Wendel, President, FIC ADVISORS, INC. (FIC)
Mark Doman, Executive Vice President, Business Development, EBUREAU
Leveraging the value of Big Data can improve the effectiveness of small business marketing, increase productivity, and grow bank revenues. Strong analytics also provide critical tools to imprve risk management and prevent fraud.
Applying a string analytic approach can reduce :
• Uncover small businesses using consumer bank accounts, allowing for appropriate marketing and cross-sell
• Quantify the wallet share opportunity available to banks from current customers, helping to set sales goals
• Target prospects based upon bank-determined screening criteria, including risk characteristics, eliminating much of the guess-work of initial sales efforts
• Determine the customer’s propensity to buy certain products, allowing banks to set clear priorities for their sales efforts
• Reduce fraud and credit losses
• Reduce application processing and collections costs
But, Big Data also needs to be a key part of a larger effort that evaluates organizational effectiveness, ensuring that the people and processes support a targeted effort.