Tag Archives: account screening
“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.”
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 […]
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 […]
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, […]
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.
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 […]
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 […]
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.
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. […]
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 […]