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Getting Personal: Transitioning from Product-to Customer-Centric Analytics in Banking

Edward Niestat, Managing Director, Novantas
Kaushik Deka, Director,  Novantas

Gaining insights into the breadth, depth, persistence and potential of a customer relationship enables smarter business decisions.  But with the volume, variety, and velocity of data increasing day by day, how do you separate the insights from the noise and truly monetize data assets in your data lake?

Getting to customer-centric insight and relationship deepening actions requires a combination of your ability to rapidly query, interpret, and manage large interdependent datasets of varying granularities (especially customer, account, and transactional data), as well as your own banking instincts and “know how” to unlock financial benefits. Join Novantas and Cloudera for a 90-minute session Thursday, April 20th (and optional preceding breakfast) as we reveal a new paradigm for driving value from analytics at the customer relationship level. In this session you will hear about the proven approaches that banks are using to make this transition, the technology catalysts that empower agile analytics, and most importantly, the use cases for supporting investments in big data and advanced analytical technologies.

Kickstart your day by learning how banks are taking action to “discover” customer-level opportunities:

  • The critical component parts of the customer relationship life cycle – and the volumes of useful data generated at each stage
  • How to leverage this data and new analytics to make customer-level decisions – and optimize outcomes
  • The key technology enablers and design patterns required to leverage these insights effectively in your data lake for BI and Analytics – balancing data democratization and data governance

And, once discovered, how they are taking action:

  • Optimising deposit acquisition efforts: Matching offers to the likely shopping behavior of customers to acquire more “persistent” and less rate-sensitive balances
  • Improving customer targeting: Differentiating customers based on wallet penetration and off-us attractiveness
  • Improving offer effectiveness and yield: Delivering customer-level offers in an increasingly virtual world and enabling the branch to make customer-level and customer-specific offers
  • Improving balance sheet flexibility: Deciding which customers to make what offers to when term deposits are reaching maturity based on duration objectives

For more information, contact Novantas Marketing

+1 (212) 953-4444