Financial technology firm FIS has released a suite of analytics applications to help banks improve their marketing, pricing and special offer programs.
FIS Active Analytics, announced Monday, consists of three programs, available together or separately, each of which makes use of FIS' data analytics systems. The new suite of products is intended to help banks improve their marketing campaigns, rewards and loyalty programs based on improved customer data.
The three new offerings are programs for targeted marketing, merchant offers and price optimization. The first two are available now; the price-optimization program will be available later this year.
The targeted-marketing program automatically assigns customers to specific market segments, allowing banks to launch real-time, personalized campaigns. The merchant-offers program uses information on a customer's transaction history, behavior and other data in order to provide targeted offers. The price-optimization program lets banks model the effects of price changes in different scenarios.
"The power of using data and predictive analytics to increase the effectiveness and personalization of marketing offers to consumers is clear," said Bob Legters, FIS' senior vice president of payments products, in the news release. "FIS' Active Analytics Suite is in response to this changing paradigm, providing a full set of innovative solutions aimed at helping financial institutions monetize this rich data."