Topic "Financial Services – Banking"

Banks and the Art of the Possible: Disruptors are Re-shaping Banking

The problem many banks encounter today is that they have vast sums of investment tied up in old ways of doing things. Historically, customers chose a bank and remained ’loyal’ throughout their lifetime…now competition is rife and loyalty is becoming a thing of a past. In order to stay ahead of the competition, gain and... more

How to Improve Cross Sell and Customer Experience in Banking

I recently refinanced an existing mortgage on an investment property with my bank. Like most folks these days, I went to their website from my iPad, fill out an online application form, and received a pre-approval decision. Like any mortgage application, we stated our liabilities and assets including credit cards, auto loans, and investment accounts... more

BCBS 239 – What Are Banks Talking About?

I recently participated on an EDM Council panel on BCBS 239 earlier this month in London and New York. The panel consisted of Chief Risk Officers, Chief Data Officers, and information management experts from the financial industry. BCBS 239 set out 14 key principles requiring banks aggregate their risk data to allow banking regulators to avoid... more

The Ones Not Screwing Up with Compliance Will Win

A few weeks ago, a regional US bank asked me to perform some compliance and use case analysis around fixing their data management situation.  This bank prides itself on customer service and SMB focus, while using large-bank product offerings.  However, they were about a decade behind the rest of most banks in modernizing their IT... more

Customer Centric Financial Services

The business of financial services is transforming before our eyes. Traditional banking and insurance products have become commoditized. As each day passes, consumers demand increasingly personalized products and services. Social and mobile channels continue to overthrow traditional communication methods. To survive and grow in this complex environment, financial institutions must do three things: Attract and... more