Banking Transformed from Jim Marous, Co-Publisher of The Financial Brand, offers a perspective on data and advanced analytics to provide a huge competitive advantage and source of growth for traditional and non-traditional financial services providers.
- Improved customer acquisition
- Higher customer lifetime value
- Lower operating costs
- Lower risk
Future-ready financial institutions are using data, applied analytics and AI to deliver new products and services and to design intuitive, highly personalized customer journeys. Success requires skilled talent, a modernization of existing processes, and meeting the increasing expectations of customers.
The banking industry is increasingly focused on digital transformation with a foundation of data, applied analytics and artificial intelligence (AI). Banks and credit unions are leveraging AI to enhance existing offerings, create new products and services, and improve customer experiences. The application of data and applied analytics is also supporting the modernization of business models and decision making.
