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Insights

Infographic: State of the Unbanked and Underbanked Markets 2015

The Unbanked and Underbanked markets in the US continue to grow in importance. Unbanked customers have neither a checking account nor a savings account. Underbanked customers may have an account, but rely primarily on Alternative Financial Services such as check-cashing storefronts and pre-paid cards to manage their finances. The infographic below presents recent statistics about […]

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Assessing the Risk of DDA Account Applicants: The First Data® Confidence Score® Advantage

The Importance of Risk Assessment When a consumer applies for a DDA account at a bank or credit union, the institution typically performs some kind of risk assessment to determine how reliable the consumer is likely to be. Will the applicant bounce checks? Will the applicant commit fraud? Will the account eventually be charged off? […]

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Use Web Services to Modernize Applications and Support Omnichannel Strategies

This post is an excerpt of an article by Dragnet Solutions CEO Greg Cote for the WIB Directors Digest newsletter. The full article is available on the WIB site. Banks find themselves facing two daunting technology challenges: first, updating or extending legacy applications to take advantage of Big Data, faster analytics and mobile devices; and […]

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Study Finds that Customer Empathy Usually Goes Amiss

Is empathy a reliable way of understanding customers? All too often, the answer is no, according to a recent study described in Harvard Business Review. The more managers strive to be empathetic, the more likely they are simply to project their own preferences onto customers.

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Benefits of Real-time Account Segmentation

This post is an excerpt of an article by Dragnet Solutions CEO Greg Cote for the WIB Directors Digest newsletter. The full article is available on the WIB site. Sometimes in business a feature or function dismissed as tactical or merely technical proves itself to be strategic — a vital tool for organizations to grow […]

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WIB Annual Conference 2015 Report

We’re back from this year’s Western Independent Bankers Annual Conference for Bank Presidents, Senior Officers, and Directors. This year’s conference was held at the beautiful Grand Wailea resort in Maui. It was a great setting for conversations, presentations, and, of course, sunshine and golf. The theme of this year’s conference was Transformational Leadership. It was […]

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Important Questions for Financial Institutions and Retailers

Here are three questions that financial institutions and retailers should be asking themselves: How do you identify profitable customers at account opening? With customer expectations rising, how do you transform operations for better service and bigger profits? How do you enter new markets with confidence? We know these questions are weighing on organizations of all […]

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A Financial Services Holiday Tale

Wishing everyone a wonderful holiday season!  

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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 […]

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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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