Improving Customer Experience With Transaction Enrichment
The retail banking landscape has dramatically changed over the past five years with the accessibility of open banking applications, mainstream adoption of Neobanks and the recent introduction of tech giants into the financial services industry. According to a recent Forbes article, millennials now represent 75% of the global workforce, and "71% claim they'd “rather go...
Building Forward-Looking Intelligence With External Data
This post was written in collaboration with the Foursquare data team. We thank co-author Javier Soliz, sales engineer specializing in data engineering and geospatial analysis at Foursquare, for his contribution. “In an interlocked global economy, triggering events can quickly set off a chain reaction,” wrote Boston Consulting Group in early 2020 as the world...
Identifying Financial Fraud With Geospatial Clustering
For most financial service institutions (FSI), fraud prevention often implies a complex ecosystem made of various components –- a mixture of traditional rules-based controls and artificial intelligence (AI) and a patchwork of on-premises systems, proprietary frameworks and open source cloud technologies. Combined with strict regulatory requirements (such as model explainability), high governance frameworks, low latency...
Segmentation in the Age of Personalization
Quick link to notebooks referenced through this post. Personalization is heralded as the gold standard of customer engagement. Organizations successfully personalizing their digital experiences are cited as driving 5 to 15% higher revenues and 10 to 30% greater returns on their marketing spend. And now many customer experience leaders are beginning to extend personalization to...
Solution Accelerator: Telco Customer Churn Predictor
Skip directly to the notebooks referenced throughout this post. When T-Mobile embraced the un-carrier label, they didn’t just kick off a marketing campaign; they fundamentally changed the dynamics in the US market for telecom. Previously, telecom had been a staid, utility-like industry with steady growth and subscribers locked into two-year contracts to cover a “free”...
Strategies for Modernizing Investment Data Platforms
The appetite for investment was at a historic high in 2020 for both individual and institutional investors. One study showed that “retail traders make up nearly 25% of the stock market following COVID-driven volatility”. Moreover, institutional investors have piled on investments in cryptocurrency, with 36% invested in cryptocurrency, as outlined in Business Insider . As...
Personalizing the Customer Experience with Recommendations
Go directly to the Recommendation notebooks referenced throughout this post. Retail made a giant leap forward in the adoption of e-commerce in 2020, E-commerce as a percentage of total retail saw multiple years of progress in one year. Meanwhile, COVID, lockdowns and economic uncertainty have completely disrupted how we engage and retain customers. Companies need...
Leveraging ESG Data to Operationalize Sustainability
The benefits of Environmental, Social and Governance (ESG) are well understood across the financial services industry. In our previous blog post, we demonstrated how asset managers can leverage data and AI to better optimize their portfolios and identify organizations that not only look good from an ESG perspective, but also do good — companies that...
Reputation Risk: Improving Business Competency and Nurturing Happy Customers by Building a Risk Analysis Engine
Why reputation risk matters? When it comes to the term "risk management", Financial Service Institutions (FSI) have seen guidance and frameworks around capital requirements from Basel standards. But, none of these guidelines mention reputation risk and for years organizations have lacked a clear way to manage and measure non-financial risks such as reputation risk. Given...
Detecting At-risk Patients with Real World Data
With the rise of low cost genome sequencing and AI-enabled medical imaging, there has been substantial interest in precision medicine. In precision medicine, we aim to use data and AI to come up with the best treatment for a disease. While precision medicine has improved outcomes for patients diagnosed with rare diseases and cancers, precision...
