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Tag Archives: account screening

White Paper: Unlocking the Potential of Mobile Banking with Data-driven Insights

“The next frontier in mobile banking is mobile account opening. Enabling consumers to open accounts on smartphones and tablets is especially critical for those institutions interested in serving tech-savvy Millennials or unbanked and underbanked households who use smartphones as their sole means of Internet access.

Until now, mobile account opening has been hampered by two challenges, which turn out to be related. First, financial organizations have difficulty collecting and verifying Customer Information Program (CIP) data from consumers on mobile devices. Second, mobile interfaces often require a lot of typing, which can lead to errors and variations that make CIP data hard to verify, and which also make degrade the customer experience of using the mobile app.”

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? […]

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 […]

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.”

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 […]

Big Ideas for Branch Banking from the WIB Education Summit & Expo

At the 2014 Education Summit and Expo of the Western Independent Bankers Association, we heard some spirited discussion about the future of branch banking. Clearly, branch banking is changing. Branch traffic is down. Fewer customers consider the branch their first-choice channel for interacting with their institution. Customers are performing more transactions, such as depositing checks […]

Innovation and Insight at the 2014 CFSI EMERGE Conference

We’re back from the CFSI/American Banker EMERGE Conference in Los Angeles. EMERGE is the new name for CFSI’s Underbanked Conference, an event dedicated to exploring the needs of households who manage their finances outside of traditional institutions such as banks and credit unions. We saw evidence of lots of innovation at the conference. For example, […]

Infographic: State of the Unbanked and Underbanked Market

Some of the brightest minds in banking will be discussing the unbanked and underbanked market at this week’s EMERGE Conference in Los Angeles. To remind our readers of the potential of this market, we’ve compiled this infographic.

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 subgroups in your customer base. You’ve probably analyzed your customer base, know […]

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 […]