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Insights

5 Key Steps for Growing Profitable Accounts

Without launching new mobile apps or remodeling branches, institutions can take immediate steps to help grow profitable accounts while reducing losses from fraud and charge-offs. Here are 5 steps for making business more profitable and less risky. Run the numbers, and understand the cohorts in your customer base. You’ve probably analyzed your customer base, know […]

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Multifactor Authentication Should Be Flexible

Moving beyond Today’s IT Security Silos Can financial institutions make authentication more convenient and flexible for customers without sacrificing the rigor of the IT security? This question came up repeatedly at the recent BAI Payments Connect Conference in Las Vegas. Today, most institutions enforce different and limited authentication requirements for each channel:  branch, Web site […]

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See It Live at BAI Payments Connect: Dragnet Intercept Running with Epson Scanners

We’re pleased to announce that we’ve just certified two Epson scanners, the TM-S2000 and the TM-S9000, for use with Intercept, our real-time ID document authentication service.  We’ll be demonstrating the two products working together in Booth #313 at BAI Payments Connect next week in Las Vegas. (For more about Payments Connect, see the official Web […]

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Jeff Sargent Joins Dragnet Solutions, Inc.

Dragnet Solutions, Inc. is pleased to announce that Jeff Sargent has joined the company as Eastern Regional Director of Sales. Jeff will be responsible for introducing Dragnet account-screening and identity verification solutions to financial institutions in the Eastern U.S. Drawing on his experience in the Alternative Financial Services (AFS) market, his work will include introducing Dragnet Accelerated Insight to institutions interested in serving the unbanked and underbanked.

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Lessons in Core Technology, Integration, and Customer Security from the NAFCU Technology and Security Conference

Presentations at this year’s NAFCU Technology and Security Conference focused on a few key themes, which we came to imagine as layers making up a credit union’s IT environment, starting with a core system at the center, moving out to integrations with various other systems such as identity verification and account-screening services, and eventually reaching that all-important community, customers.

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Big Data and Your Institution’s Goals for 2014

By breaking “Big Data” down to some of its constituent components, financial institutions might find a useful road map for upgrading some critical IT services without having to embark on bold, expensive, and risky IT initiatives.

To begin, we need to get beyond that catch phrase, Big Data. It’s time to dispense with the hype and ask what Big Data really is.

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Getting Smart about DDA Accounts and Profitability

If some financial institutions find it difficult to grow profits from their DDA business, it’s probably because of the column of numbers listed here. The typical bank or credit union spends $150 to $200 to acquire a DDA account customer. About 12-15% of those customers will turn over every year, and only 40% of them […]

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Dragnet Solutions at BAI Retail Delivery 2013

At this year’s BAI Retail Delivery Conference, there was lots of talk about innovation, which applies not only to new areas like mobile but also to traditional channels like branches. Institutions can grow in-branch revenue by verifying the identities and likely profitability of every applicant in real time during account opening. By delivering better customer analytics in real time to branch staff, institutions can make time-consuming application processes quick and easy, while at the same time segmenting customers sensibly for profitability and risk. Ensuring that each applicant is offered the most appropriate type of account—a full-featured checking account, a “second chance” account with no overdraft protection, or some other type of account—is an excellent way to grow profits and to reduce risks of charge-offs and customer churn.

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Connecting Branches to Back Offices for New-Account CIP Processing

We’re pleased today to announce the availability of Accelerated Insight 2.0, the latest version of our real-time account-screening and identity verification service for financial institutions. A major new component of AI 2.0 is an optional extension we’re calling AI Workbench. This extension provides a live data feed of account-screening data from branches to the back office. […]

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Prepaid Cards and Unbanked, Underbanked, and Banked Customers

Prepaid cards are poised for dramatic growth, according to a recent study from MasterCard. Worldwide, the market for prepaid cards is projected to nearly quadruple from $210 billion in 2010 to $822 billion in 2017. That’s an impressive 22% CAGR. The US had 73% of the prepaid card market in 2010. That share will likely […]

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