Where should banks consider making their analytics investments?
Responsible lending, exit fee restrictions, new restrictions on fee income and interest rates have made it more important than ever to understand the economics of each customer and find ways to increase the share of wallet of the most profitable customers. Analytics can play a big role in creating the elusive 360-degree view of customers, as well as improving the way the bank communicates with different customers.
While analytics isn’t new to the world of banking, plenty of banks are gearing up for their next big analytics push, propelled by a load of sophisticated new tools and technologies, and a wealth of data. For many, the strategic question is where to focus their efforts to get the most return from their analytics investments. On managing the risks of the major regulatory reforms such as Basel III, FoFA, FATCA, and Dodd-Frank, or customer analytics? See the points and counterpoints in this short and focussed US published debate.
Download below attachment to access the debate.