Tag Archives: innovation
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.