In a perfect world, financial analytics would be prophetic—accurately predicting the outcome of every capital market move, investment choice, and loan decision. Unfortunately, financial institutions aren’t quite so utopian. They cannot ignore the impact of Big Data in their financial world, especially when their audiences’ awareness and expectations are on… Read More →
In today’s technologically disruptive world, even cybercriminals use a variety of advanced exploits to compromise the computer systems of financial organizations worldwide. In fact, fighting all types of financial crime—including fraud—is one of the biggest challenges these financial institutions face, according to Mike Urban, Director of Product Management, Financial Crime Risk… Read More →
A recent study by EY (formerly Ernst & Young) reveals that high-growth financial services companies are twice as likely to focus on data and analytics in revenue-generating areas such as marketing and sales. The study also finds other correlations between high-growth financial services firms and their ability to leverage data… Read More →
When it comes to retail banking, customers today expect personalized service—around the clock—from their banks. That means to be competitive, retail banks must—not should—offer their connected customers access to online banking, mobile banking and remote account management, according to an article in Banking Systems & Technology. And if they want… Read More →
Low interest rates, higher capital requirements, and moribund customer spending continue to put the squeeze on bank profitability. One effective way for bankers to respond to these challenges and improve profitability is by using customer data and predictive analytics to identify customers and prospects who are most likely to generate… Read More →
Rising regulatory pressures. A sluggish economy. Heightened competition from new market entrants. These are just a few of the challenges companies in the financial services industry are facing today.
While predicting the ups and downs of capricious financial markets may be next to impossible, financial services companies can tap analytics to confidently predict customer behavior to outperform their competitors.
As savvy financial services professionals know, many industry players have multiple product and business lines that are constantly changing due to shifting customer and market demands. One TIBCO Spotfire client, CFS Consulting Group, is well aware of these challenges. CFS Consulting is predominantly focused on providing its clients with custom… Read More →
Shifting market forces are shaking up the retail banking industry from new payment platforms – including those from big players like Amazon – to mobile banking, peer-to-peer lending to regulatory constraints and a persistently tough interest rate climate. Furthermore, banks are under-leveraging their existing customer bases and missing out on… Read More →
A number of recent research studies reveal that consumer confidence in financial services continues to rise following the fallout from the financial crisis of 2008. In fact, global consumer trust in banks has risen 4 percent since 2009 to 51 percent, according to the 2014 Edelman Trust Barometer. Additionally, a… Read More →