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About: John Bennett

Recent Posts by John Bennett

A Financial Services Holiday Tale

Wishing everyone a wonderful holiday season!  

White Paper: 6 Strategies for Identifying and Selling to Your Most Profitable Customers

“Even when institutions win business and open accounts, risks persist. Not all customers will be profitable. Some will charge-off because of losses, and a few will perpetrate fraud. But others will become loyal, profitable customers, and some of these profitable customers will be willing to consolidate their business with the institution.

If institutions can recognize these profitable customers at account opening, they take proactive steps to win a larger share of these customers’ business.”

Make Profitable Decisions at Account Opening

Customers aren’t all alike. One important way in which they differ is the annual revenue they produce for an institution. If, at account opening, you can identify which customers are likely to be loyal and profitable and which are likely to be costly or even  fraudulent, your branch associates can make the most profitable decisions […]

White Paper: Real-time Discrepancy Clearing for Customer Onboarding

At many financial institutions today, clearing discrepancies in Customer Identification Program (CIP) data is a batch process that occurs on Day 2—after the customer has already left the branch. This delay can be costly. It increases the chances of losses from fraud and compromises the quality of the onboarding experience. Real-time discrepancy clearing enables branch associates to work with customers to clean up data at account opening, making it easier for the institution to catch fraud, to reduce costs, and to deliver the best possible onboarding experience.

Want to Grow Revenue? Give People What They Want, When They Want It

This seems obvious, but it’s often easier said than done. In too many institutions, account-screening processes yield cryptic yes/no decisions without any further explanations. Batch (Day 2) processing remains common. Assessing and responding to a business opportunity takes time. If someone’s looking for a prepaid card for a trip they’re taking tomorrow, or a small-dollar […]

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