Internet banking has made best use of APIs and Cloud computing for keeping the banks more in touch with their customers in least time. They were able to educate their clients about their best offerings, features and benefits.
For this most of the credentials lies on the APIs working in the background at various level.
This post elaborates more about the APIs in Banking.
Digital Banking: Enhancing Customer Experience; Generating Long-Term LoyaltyCognizant
To stay profitable and grow in the new digital economy, banks need to adopt a customer-centric business model, diversify online delivery of products and services channels, and begin making meaning from valuable trails of digital information.
Future of conversational commerce july 2018 lr-compressedFuture Agenda
From Alexa and Siri to the use of chatbots as part of customer service, conversational commerce is already present for many in our everyday lives. This summary PPT examines what has enabled the recent rise, the state of play today, how might it evolve in the future and what the implications are for organisations.
Conversational Commerce Today
As part of work to support Mastercard’s thought leadership position on the Future of Conversational Commerce, unveiled at Money 2020 in June 2018, Future Agenda conducted desk research and a series of expert conversations to better understand the current state of play and to uncover emerging shifts of note.
The future of trusted conversational commerce will be shaped by three inter-related themes. These are:
1. Enhanced Customer Experience - As conversational commerce meets proof points of viability, feasibility and desirability
2. Being Human - As bots (and humans) become more informed, more natural and more helpful, powered by real-time AI and fuelled by organisation-wide accessible flows of data. NLP improvements add other ‘human’ psychological elements, e.g. hesitance.
3. Data’s Richness - As the economic imperative to identify and make best use of data – whether generated or procured from multiple sources - remains at the heart of ecommerce activities. With pervasive AI in place, it’s the data, not the engine that differentiates.
Retail Banking: Delivering a Meaningful Digital Customer ExperienceCognizant
To compete effectively, banks must fully adopt digital technologies to enhance customer experience, by providing mobile banking, omni-channel banking options, digital personal financial management, and more.
Digital Banking: Enhancing Customer Experience; Generating Long-Term LoyaltyCognizant
To stay profitable and grow in the new digital economy, banks need to adopt a customer-centric business model, diversify online delivery of products and services channels, and begin making meaning from valuable trails of digital information.
Future of conversational commerce july 2018 lr-compressedFuture Agenda
From Alexa and Siri to the use of chatbots as part of customer service, conversational commerce is already present for many in our everyday lives. This summary PPT examines what has enabled the recent rise, the state of play today, how might it evolve in the future and what the implications are for organisations.
Conversational Commerce Today
As part of work to support Mastercard’s thought leadership position on the Future of Conversational Commerce, unveiled at Money 2020 in June 2018, Future Agenda conducted desk research and a series of expert conversations to better understand the current state of play and to uncover emerging shifts of note.
The future of trusted conversational commerce will be shaped by three inter-related themes. These are:
1. Enhanced Customer Experience - As conversational commerce meets proof points of viability, feasibility and desirability
2. Being Human - As bots (and humans) become more informed, more natural and more helpful, powered by real-time AI and fuelled by organisation-wide accessible flows of data. NLP improvements add other ‘human’ psychological elements, e.g. hesitance.
3. Data’s Richness - As the economic imperative to identify and make best use of data – whether generated or procured from multiple sources - remains at the heart of ecommerce activities. With pervasive AI in place, it’s the data, not the engine that differentiates.
Retail Banking: Delivering a Meaningful Digital Customer ExperienceCognizant
To compete effectively, banks must fully adopt digital technologies to enhance customer experience, by providing mobile banking, omni-channel banking options, digital personal financial management, and more.
Adtelligence best practise use case guide for automated customer lifecycle ma...ADTELLIGENCE GmbH
Best practice use case guide to leverage data with AI for payment and credit card issuers
Credit card issuers are facing major challenges due to the changing financial services ecosystem and data protection and privacy regulation. Owning payment means owning the customer interface. Issuing credit cards is a growing business area for banks: the card, as a form of payment, is an anchor product that provides ongoing customer touchpoints. It is strategically important for maintaining customer relationships and generating revenues through transaction fees from customers but even more to utilize the customer data with AI for personalized cross- and upsells.
Adtelligence is an award-winning enterprise SaaS provider for AI-powered analysis of customer data and payment transactions to optimize the sales and marketing processes and trigger personalized real-time campaigns. For more than ten years we have supported national and international companies to significantly increase their sales along the customer lifecycle. The intelligent customer data layer and personalization solutions empower to acquire, convert, upsell and retain customers and create scalable data-based revenue models with AI.
AI-empowered Omnichannel Digital Banking PlatformBanQ Systems
Leading edge omnichannel digital banking platform
- AI/ML-empowered
- Open API (compliance with PSD2 directive)
- Centralized product control
- Secure Operation
- Emphasis on Usability
- Significantly lower TCO, compared to the market
- Modular architecture
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Understand the five important FinTech Trends and how you can leverage those for your business. Discover how the FinTech trends integrate technology, process and products. International use cases will be discussed in this presentation. This is a must-view webinar for retail banking operations staff, wealth managers, and technology teams supporting banking business.
Conversational AI automation in the banking and financial sector has enabled banks to have customer experience, engagement along with improving contact center management, operational efficiency as well as upselling and cross-selling opportunities.
SapientNitro: Multi-channel and the Convergence of Marketing, Commerce & Cust...Day Software
Technology has changed the consumer-brand relationship forever. Brands no longer choose their consumers. Consumers choose them. They no longer differentiate between the channels brands use to speak to them. Technology has forever blurred marketing, commerce, and customer service. This presentation will explore this changing dynamic in consumer-brand interaction, the implications it has on how organizations market to, sell to and service their customers and the tools they need to find, engage and, quite frankly, keep up with today's always on, on-the-go, connected and fleeting consumer.
Dan Barnicle, VP, Content Management & Collaboration, SapientNitro
Keynote de Ron Shevlin en Next Bank Madrid 2013finnovar
Esta fué la presentación de Ron Shevlin en el Next Bank Madrid del pasado 25 de Junio 2013. Ron Shevlin es Senior Analyst de Aite Group y Autor del blog Snarketing2.0.
We are following John and Jane through a typical day and explore their every day banking needs. The aim of this presentation is to showcase how modern day banking is transforming today and in the future.
Backbase Webinar: The Adjacent Possible for Banks Backbase
Slides of the November 1, 2016 webinar 'The Adjacent Possible for Banks'.
Digitally platformed customer experiences are rewiring consumer expectations. To resist competition, banks need new perspectives and fresh thought processes.
Now, in 2016, we see every bank engaging with a series of fundamental challenges.
· How should they take best advantage of the digital revolution?
· How can they harness its power to improve their customer experience?
· What strategic directions should they choose?
We believe the best answers are contained in an approach called the Adjacent Possible. The Adjacent Possible provides a powerful conceptual framework for a bank’s digital strategy. So what is this framework? And how can it be applied? See the webinar or check out the slides for more info.
Our guest speaker on this topic is Nic Parmaksizian, an award-winning FS specialist with a record for delivering innovative digital experiences and customer journeys. Nic leads Capco Digital business across EMEA. Nic has spent more than 15 years in the Financial Services industry and has worked with the world’s most important banks. Nic is a founder at East London Ventures. Nic is also a founding member of the FinTech working group at Tech London Advocates. Nic is a mentor and advisor to various startups in Europe and the Americas, where he focuses on building lasting businesses fast, making the right connections, and facilitating investment opportunities.
A deck looking at what Multi-channel means, the implications for the banking industry, why its important, how to get banks from zero to multichannel, and important considerations.
Adtelligence best practise use case guide for automated customer lifecycle ma...ADTELLIGENCE GmbH
Best practice use case guide to leverage data with AI for payment and credit card issuers
Credit card issuers are facing major challenges due to the changing financial services ecosystem and data protection and privacy regulation. Owning payment means owning the customer interface. Issuing credit cards is a growing business area for banks: the card, as a form of payment, is an anchor product that provides ongoing customer touchpoints. It is strategically important for maintaining customer relationships and generating revenues through transaction fees from customers but even more to utilize the customer data with AI for personalized cross- and upsells.
Adtelligence is an award-winning enterprise SaaS provider for AI-powered analysis of customer data and payment transactions to optimize the sales and marketing processes and trigger personalized real-time campaigns. For more than ten years we have supported national and international companies to significantly increase their sales along the customer lifecycle. The intelligent customer data layer and personalization solutions empower to acquire, convert, upsell and retain customers and create scalable data-based revenue models with AI.
AI-empowered Omnichannel Digital Banking PlatformBanQ Systems
Leading edge omnichannel digital banking platform
- AI/ML-empowered
- Open API (compliance with PSD2 directive)
- Centralized product control
- Secure Operation
- Emphasis on Usability
- Significantly lower TCO, compared to the market
- Modular architecture
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Understand the five important FinTech Trends and how you can leverage those for your business. Discover how the FinTech trends integrate technology, process and products. International use cases will be discussed in this presentation. This is a must-view webinar for retail banking operations staff, wealth managers, and technology teams supporting banking business.
Conversational AI automation in the banking and financial sector has enabled banks to have customer experience, engagement along with improving contact center management, operational efficiency as well as upselling and cross-selling opportunities.
SapientNitro: Multi-channel and the Convergence of Marketing, Commerce & Cust...Day Software
Technology has changed the consumer-brand relationship forever. Brands no longer choose their consumers. Consumers choose them. They no longer differentiate between the channels brands use to speak to them. Technology has forever blurred marketing, commerce, and customer service. This presentation will explore this changing dynamic in consumer-brand interaction, the implications it has on how organizations market to, sell to and service their customers and the tools they need to find, engage and, quite frankly, keep up with today's always on, on-the-go, connected and fleeting consumer.
Dan Barnicle, VP, Content Management & Collaboration, SapientNitro
Keynote de Ron Shevlin en Next Bank Madrid 2013finnovar
Esta fué la presentación de Ron Shevlin en el Next Bank Madrid del pasado 25 de Junio 2013. Ron Shevlin es Senior Analyst de Aite Group y Autor del blog Snarketing2.0.
We are following John and Jane through a typical day and explore their every day banking needs. The aim of this presentation is to showcase how modern day banking is transforming today and in the future.
Backbase Webinar: The Adjacent Possible for Banks Backbase
Slides of the November 1, 2016 webinar 'The Adjacent Possible for Banks'.
Digitally platformed customer experiences are rewiring consumer expectations. To resist competition, banks need new perspectives and fresh thought processes.
Now, in 2016, we see every bank engaging with a series of fundamental challenges.
· How should they take best advantage of the digital revolution?
· How can they harness its power to improve their customer experience?
· What strategic directions should they choose?
We believe the best answers are contained in an approach called the Adjacent Possible. The Adjacent Possible provides a powerful conceptual framework for a bank’s digital strategy. So what is this framework? And how can it be applied? See the webinar or check out the slides for more info.
Our guest speaker on this topic is Nic Parmaksizian, an award-winning FS specialist with a record for delivering innovative digital experiences and customer journeys. Nic leads Capco Digital business across EMEA. Nic has spent more than 15 years in the Financial Services industry and has worked with the world’s most important banks. Nic is a founder at East London Ventures. Nic is also a founding member of the FinTech working group at Tech London Advocates. Nic is a mentor and advisor to various startups in Europe and the Americas, where he focuses on building lasting businesses fast, making the right connections, and facilitating investment opportunities.
A deck looking at what Multi-channel means, the implications for the banking industry, why its important, how to get banks from zero to multichannel, and important considerations.
De thi-thu-thpt-quoc-gia-2015-mon-tieng-anh-truong-thpt-chuyen-nguyen-binh-kh...Hồng Nguyễn
Đề thi thử môn Tiếng Anh - Trường THPT chuyên Nguyễn Bỉnh Khiêm - Vĩnh Long
Xem thêm các đề thi minh họa, đề thi mẫu, đề thi thử khác tại website http://diemthithptquocgia.vn/
Home - Điểm thi THPT Quốc Gia
diemthithptquocgia.vn
Today’s evolving digital capabilities can help financial services companies achieve greater customer-centricity & community authenticity by breaking some of the key compromises the industry has had cope with its legacy.
In the past, the form, frequency, and caliber of companies’ interactions with customers have been governed to a great extent by operational limitations and/or intermediaries in the value chain such as Agents, Brokers in the Insurance realm.
Learn how financial institutions are betting on the Big Data and Artificial Intelligence through APIs that help banks to define products, segmenting customers and detect possible fraud. Throughout this ebook we offer a review of the APIs bank data aggregation. More information in http://bbva.info/2t1NEv7
AI & Data Analytics: 3 Ways They Can Improve Customer Experience And EngagementQuekelsBaro
Analytics, data, and AI have the potential to enrich marketers’ understanding of their customers’ experiences in order to deliver meaningful, relevant experiences in the future.
More Personalized Banking Through Big Data and AnalyticsSAP Analytics
http://spr.ly/AA_banking - Commonwealth Bank of Australia (CBA) knows a lot about its customers. That is partly because it has a huge footprint in the country—it processes nine million transactions per day, handles 40 percent of the card transactions in Australia and maintains 12 million account profiles. With new data sources and tools, Commonwealth Bank of Australia is providing more personalized service to customers and building loyalty within the community.
-Bloomberg Businessweek Research
Behind the ABM Curtain with Oracle Data CloudKwanzoo Inc
Take a peek beyond the hype of account-based marketing (ABM) in this interview with Oracle Data Cloud's Sr. Director of Product Management Niraj Deo, and get his take on ABM display and the future of ABM data for B2B.
7 Trends That BFSI Industry Cannot Ignore Anymore- Get Ready for 2023SG Analytics
The Impact of COVID-19 on the BFSI Sector
When compared to only a few months of lockdown, life has changed drastically for many of us. One of the most extensive adjustments has been doing things online that we had previously done in person. This entails internet shopping, digital banking, and video conferencing for socializing and business meetings, among other things. Source - https://us.sganalytics.com/blog/top-bfsi-industry-trends/
Early Stage Fintech Investment Thesis (Sept 2016)Earnest Sweat
Here is an example of a personal investment thesis that I created to share with venture capital firms. In this example, I provide my personal perspective on the fintech sector. For details on how I build this thesis check out my blog (https://goo.gl/CU4Qid).
Note: Some of the confidential information has been redacted for privacy.
We’ve asked customers and partners, spoken to industry experts and made our own conclusions and predictions to help financial organisations succeed in mobile
in 2015.
Who are the mobile innovators and disruptors of the financial industry? How will banks tackle mobile security threats in 2015? What will Apple Pay mean for the financial institutions? What’s the regulatory impact of new mobile technology such as wearables? How do financial institutions stay on top of mobile technology with an accelerated pace of innovation? How much longer will employees of financial firms be tied to a desktop? You'll find the answers in this presentation.
Overview: Big Data Use Cases in Telecom, Retail, Insurance, Automotive, Media & Banking & Finances Industry Segments. How can we map these business challenges to Solutions on AWS Cloud? Let's Find Out!
Big Data is Growing Bigger & Bigger with a prediction of 40 Zeta Bytes of Data by 2020.
> What are the 4 Vs of Big Data?
> Big Data Industry Use Cases:
- Telecommunications
- Retail
- Insurance
- Automotive
- Media
- Banking
Which AWS Components can be mapped to each stage of the Big Data Life Cycle:
AWS S3, AWS EC2, AWS EMR, AWS Redshift, Data Pipelines & many more.
Enhancing Customer Experience through Loan Origination System (1).pdfHabile Technologies
Guaranteeing a spectacular customer experience, CloudBankIN allows lenders to i) Automatically disburse loans within 2 minutes, ii) Disburse low ticket loans without any human intervention, iii) Capture the right user data and manage heavy-duty documentation with ease.
Webcast Presentation - What's in your (e) Wallet? Transforming payments and t...GRUC
Payments and transactional services present multiple ‘moments of truth’ for demanding clients who are often interacting with us anytime and anywhere. For financial services organizations, the 24/7 nature of the industry and its intense competition have made innovation and optimization of these capabilities critical. Learn about the experiences of IBM clients in transforming their payments and transactional services with IBM Rational DevOps capabilities.
See how banks, brokerages and insurance firms are aligning the life cycles of legacy back offices with the agile sprints of the mobile payments development shops and value-added technology partners.
Presented by:
Bruce Baron, Financial Services Sector Offerings Leader, IBM
Bruce Baron serves as the Offerings Lead for IBM Rational for the Financial Services Sector. Bruce and his team set the strategy, define our offerings and work to drive a collaborative cross-functional team of sales, marketing, enablement and development in assisting clients with solving business issues by bringing to bear all product segments and IBM brands. Prior to IBM Rational Bruce was a Strategy Consultant to Financial Services clients and has years of client experience as an e-business and six-sigma consultant in Financial Services at GE Capital.
Peter Eeles, Financial Services Sector Industry Lead, IBM Rational Worldwide Tiger Team, IBM
Peter Eeles is Industry Lead for the Financial Services Sector in IBM Rational's Worldwide Tiger Team, where he helps organizations improve their software development and delivery capability. This is often in conjunction with an architecture-centric initiative such as SOA or strategic reuse, where Peter has particular in-depth knowledge. Peter comes from a delivery background and was previously Chief Architect of IBM Rational's Worldwide Solution Delivery organization. He is co-author of "The Process of Software Architecting" (2009), "Building J2EE Applications with the Rational Unified Process" (2002), and "Building Business Objects" (1998).
Designing a Results Driven Digital Strategy: Customers and Corporations’ Digi...Fabio Mittelstaedt
The common questions in the market today are: How can I Design a Results Driven Digital Strategy? Mobile Strategies Sell or it is just about a better Customer Experience?
What are the key building blocks to envision and build an innovative digital strategy? How disruptive it should be? As much as FinTech Startup Winners? And how can I establish a flexible Digital Roadmap, that can change constantly in this new agile world? What happens if I build an apparently Perfect Digital Customer Journey and do not transform my corporation from inside? The new Point of View “Designing a Results Driven Digital Strategy” aims to analyze and provoke a series of strategic reflections on issues & opportunities such as digital customer experience maturity, personalization, digital transformation, analytics insights, mobility, agile organization, benefits and results of digital projects etc, which I have combined with examples from my practical experience and innovative cases in the marketplace.
# Internet Security: Safeguarding Your Digital World
In the contemporary digital age, the internet is a cornerstone of our daily lives. It connects us to vast amounts of information, provides platforms for communication, enables commerce, and offers endless entertainment. However, with these conveniences come significant security challenges. Internet security is essential to protect our digital identities, sensitive data, and overall online experience. This comprehensive guide explores the multifaceted world of internet security, providing insights into its importance, common threats, and effective strategies to safeguard your digital world.
## Understanding Internet Security
Internet security encompasses the measures and protocols used to protect information, devices, and networks from unauthorized access, attacks, and damage. It involves a wide range of practices designed to safeguard data confidentiality, integrity, and availability. Effective internet security is crucial for individuals, businesses, and governments alike, as cyber threats continue to evolve in complexity and scale.
### Key Components of Internet Security
1. **Confidentiality**: Ensuring that information is accessible only to those authorized to access it.
2. **Integrity**: Protecting information from being altered or tampered with by unauthorized parties.
3. **Availability**: Ensuring that authorized users have reliable access to information and resources when needed.
## Common Internet Security Threats
Cyber threats are numerous and constantly evolving. Understanding these threats is the first step in protecting against them. Some of the most common internet security threats include:
### Malware
Malware, or malicious software, is designed to harm, exploit, or otherwise compromise a device, network, or service. Common types of malware include:
- **Viruses**: Programs that attach themselves to legitimate software and replicate, spreading to other programs and files.
- **Worms**: Standalone malware that replicates itself to spread to other computers.
- **Trojan Horses**: Malicious software disguised as legitimate software.
- **Ransomware**: Malware that encrypts a user's files and demands a ransom for the decryption key.
- **Spyware**: Software that secretly monitors and collects user information.
### Phishing
Phishing is a social engineering attack that aims to steal sensitive information such as usernames, passwords, and credit card details. Attackers often masquerade as trusted entities in email or other communication channels, tricking victims into providing their information.
### Man-in-the-Middle (MitM) Attacks
MitM attacks occur when an attacker intercepts and potentially alters communication between two parties without their knowledge. This can lead to the unauthorized acquisition of sensitive information.
### Denial-of-Service (DoS) and Distributed Denial-of-Service (DDoS) Attacks
Multi-cluster Kubernetes Networking- Patterns, Projects and GuidelinesSanjeev Rampal
Talk presented at Kubernetes Community Day, New York, May 2024.
Technical summary of Multi-Cluster Kubernetes Networking architectures with focus on 4 key topics.
1) Key patterns for Multi-cluster architectures
2) Architectural comparison of several OSS/ CNCF projects to address these patterns
3) Evolution trends for the APIs of these projects
4) Some design recommendations & guidelines for adopting/ deploying these solutions.
1.Wireless Communication System_Wireless communication is a broad term that i...JeyaPerumal1
Wireless communication involves the transmission of information over a distance without the help of wires, cables or any other forms of electrical conductors.
Wireless communication is a broad term that incorporates all procedures and forms of connecting and communicating between two or more devices using a wireless signal through wireless communication technologies and devices.
Features of Wireless Communication
The evolution of wireless technology has brought many advancements with its effective features.
The transmitted distance can be anywhere between a few meters (for example, a television's remote control) and thousands of kilometers (for example, radio communication).
Wireless communication can be used for cellular telephony, wireless access to the internet, wireless home networking, and so on.
This 7-second Brain Wave Ritual Attracts Money To You.!nirahealhty
Discover the power of a simple 7-second brain wave ritual that can attract wealth and abundance into your life. By tapping into specific brain frequencies, this technique helps you manifest financial success effortlessly. Ready to transform your financial future? Try this powerful ritual and start attracting money today!
APNIC Foundation, presented by Ellisha Heppner at the PNG DNS Forum 2024APNIC
Ellisha Heppner, Grant Management Lead, presented an update on APNIC Foundation to the PNG DNS Forum held from 6 to 10 May, 2024 in Port Moresby, Papua New Guinea.
APNIC Foundation, presented by Ellisha Heppner at the PNG DNS Forum 2024
Banking
1. Banking : Design your APIs to be Context aware
Success in today’s data-oriented business environment requires being able to think about how
API, Data & Analytic concepts apply to particular business problems. Data and data science can
provide value in the context of Bank’s business & competitor strategy and to meet demands of
customer experience.
Google Finance Australia reported that majority of Internet users in Australia start their search
looking for a mortgage online, and spend between six and 11 hours researching the mortgage
before they select a potential provider and reach out to them. When they do contact a mortgage
provider, increasingly it will be via the website, rather than by walking into a branch or phoning
the call center. The myth that customers require a branch to buy a mortgage is just that, a
myth. It is more than likely that the majority of mortgages sold today were actually selected by
the customer online, and the branch was just a step in the application process.
It has become clear that Bill Gates’ quote of old about us needing banking, but not banks, has
never been more likely an outcome of the technology and behavioral-led disruption we find
ourselves in today. Banking was no longer defined or hemmed in by a physical distribution
network, or physical artifacts. The banking system emerging out of the global crisis would be
one that was highly utilitarian, pervasive, mobile, and seamlessly engineered to work when and
where we needed it.
In the end, many of the banks that were household names during the 20th century will simply
cease to exist as they are displaced or consolidated in the system-wide disruption that is soon
coming. New players are emerging now that are taking ownership of the customer experience
through revolutionary new techniques that attack the fringes of “banking” and payments.
The new value is not being a “bank”. The new value is understanding the context banking
products and services play in the life of the consumer, and delivering those products and
services on that basis. The customer will expect and demand this type of integration. The
customer will have no patience for a bank that insists he comes to its “place” before he can have
access to banking. Mobile payment is one of the most disruptive areas in the Banking segment.
Whatever bank or company operates the mobile-money system will be able to leverage the data
for its own purposes (with the right partner, a bank, for example, could offer consumers
discounts on a vacation to a favorite destination in addition to offering a savings account to let
consumers hoard money for the trip).
There are a bunch of start-ups emerging right now that use such context data to target
consumers with ads that are highly relevant. However, matching this to previous card usage data
or to purchases such as an airline ticket for future travel makes the pool of data available from
within a bank highly sought after.
Cardlytics is a well-known provider in the space. Cardlytics essentially provides an offer-matching
capability and mines card data on an aggregated basis to match merchant codes with offers that
2. might be of interest to the bank customer. This, of course, requires that the bank have a
relationship with multiple merchants so that offers can be successfully served to a customer.
Some banking products are highly contextual. In fact, many day-to-day banking products are.
Here are some examples of the context of core retail banking products:
1. Mortgage (at a potential home or with a realtor)
2. Car lease or loan (at a car dealership or when purchasing a car)
3. Credit card (potentially at a mall, or getting ready for a trip overseas)
4. Travel insurance (when booking a holiday, or at the airport)
5. Student loan (when enrolling at college or university)
The opportunity lies in using this data and extrapolating a customer opportunity with respect to
banking. This requires you to know your customers well enough at a minimum to know what
offers are relevant to them, and what merchants, locations, etc., their frequency. This data can,
of course, be gleaned from existing card usage analytics, and cross-referencing with mobile data.
3. Say a customer has previously used his credit card to shop at Myer’s. A bank might pitch him a
discount on his next purchase at David Jones instead. He won’t need to print a coupon to
redeem an offer, he’d just swipe his existing credit or debit card , and receive the discounts as a
statement credit after he makes a purchase.
Predictive & Cognitive selling, Triggered offers
Distributed point of impact
As technology continues to progress, point-of-sale equipment will also continue to migrate to the
cloud, Internet of Things devices or integrate with our app phone’s capabilities. So the point of
impact goes beyond simply the point of sale or a Branch. It includes wherever the sales journey
might be initiated with a possibility of closure.
A classic example would be CBA’s Albert which runs on open Pi android platform which will have
an open architecture, giving you the opportunity to develop new and innovative apps for
businesses, across a range of industries.
With respect to new Banking principles, push based marketing needs to change to pull based,
point of impact and service selling. Segmentation and customer intelligence through behavioral
analytic is the key to this type of messaging capability. More than simply segmenting customers,
banks will need to understand how customers behave, what they do, how often, and through
which channels. Currently banks don’t even understand which transactions go through which
channel for existing customers. Marketing must understand the why and how, and ask
customers what they want. Some banks probably imagine that they do this already, but most of
them certainly don’t use that data effectively to sell or match offers to individual customers.
Design & Model your APIs to be Context aware
Under the umbrella of big analytics, context analytics denotes the incremental context
accumulators that can detect like and related entities cross large, sparse, and disparate
collections of data. The data collection includes both current and historical data. The
completeness of the data context enables analytics to correctly assess entities of interest.
Creating data within the appropriate context delivers higher quality models. Higher quality
4. models applied to contextually-correct data can lead to better mission decisions and better
outcomes.
>>> Understand the API value chain & identify APIs
What business assets are going to be provided through the API? What information, services, and
products will be available? Of what potential value could these assets be to others? How will the
owner of the business assets benefit from the API? For a mortgage API, the assets are the
mortgage data and the points of interest and impact.
>>> Identify channel centric attributes to build the context
For example geographical location information could be an attribute for mobile advertisement
context
>>> Identify attributes which can provide individualized customer experience
>>> Identify at-risk customer behavioral patterns & attributes before they are likely to churn
>>> Identify influencing factors in a time-sequenced historical data at scale. Simple
classification techniques doesn’t solve all business problems.
>>> Group and classify of products as they pertain to multi channel interactions
Simple Products – No advice required – Credit Card, Current/Savings Account, Personal Loan,
General Insurance etc.
Informed Purchase – Advice sometimes required – Mortgage, Life insurance, Overdraft etc.
Complex Products – Specialist advice required – Securities, Investment Funds, Mutual Funds,
Deriatives, Structured Products etc.
>>> Build Machine learning and analytic capabilities at API layer and leverage classification
techniques to identify and build patterns. Build your own prediction APIs
General concepts for actually extracting knowledge from APIs, which undergird the vast array of
data science techniques and predictive analytic tools.
—- Identify informative attributes — those that correlate with or give us information about an
unknown quantity of interest
—- Fitting a numeric function model to data by choosing an objective and finding a set of
parameters based on that objective
—- Controlling complexity is necessary to find a good trade-off between generalization and over-
fitting (Try to identify a data set, leverage existing models like IFW or IFX), Nobel Laureate
Ronald Coase said, “If you torture the data long enough, it will confess.”
—- Calculating similarity between objects described by data
>>> Design & expose prediction APIs for App builders. Ultimately the prediction APIs needs to
be exposed to API developer to build smarter and predictive apps.
Attracting new customers is much more expensive than retaining existing ones, so a good deal
of marketing budget should be allocated to prevent churn. It is easier to engineer the API data
to apply the existing data mining tools than to match existing tools.
5. Opportunities
Cross-sell to existing customers
Create point of impact marketing campaigns & personalized experiences based on context
Predictive & Cognitive selling e.g. simple event triggered offers
>>> Significant Balance change (Investment Needs) : Customer’s account holdings increased by
large or significant amount ($ 200k to $ 500k, $ 500k +). Lead delivered to banker next day who
contacts customer with offer e.g. a financial planning appointment.
>>> Large Transactions (Withdrawals/Deposits) : A transaction out of the ordinary for that
customer, e.g. greater than average for last three months.
>>> Term Deposits (Renewals/ Upgrades) : Relationship Manager contacts customer to renew
or increase deposit, perhaps offering better rate through a structured product or something
similar.
- See more at: http://blog.nexright.com/api-management/banking-design-apis-context-aware/
Visit: http://nexright.com/