To better serve their customers, banks strive to understand the best way to anticipate their needs. A quick response to an emerging need can add short-term value to a new customer relationship or enhance a long-term one. By successfully harnessing big data, banks can capture large volumes of data from a variety of sources and types relating to their customers, including transactions, correspondence, social media, voice recordings, web clicks and free-form notes across multiple channels.
With the incredible growth of the mobile channel, banks are working to provide value-added services and increase customer intimacy through mobile solutions. As a result, they will receive even more data relating to customer behavior and geo-location, which may uncover even deeper customer insight.
In essence, big data helps banks combine qualitative and quantitative information beyond transactions to give them a clear view of their customers’ needs and behaviors. Such insight is essential for improving campaign and channel effectiveness, customer service and retention, as well as supporting innovative new revenue streams.
Join me on March 28 for a discussion of the new capabilities in mobile banking made possible by big data. I will discuss what banks are doing now and will describe the art of the possible in innovative mobile device technology going forward.
Date: Thursday, March 28, 2013
Time: 2:00 p.m. ET / 11:00 a.m. PT
Duration: 60 minutes
Read this post on Smarter Digital Banking: Big Data and Next Generation Banking