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Solving the Puzzle in Your Customer Data

If you’re like most FIs, insurance, ecommerce, or other online businesses, you probably have a load of customer data. But it is what’s hidden in that data that can make all the difference in detecting fraud, friction, customer satisfaction and creating a customer journey that makes purchasing from you a great experience.

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FI's Digital Transformation More Real Than Ever

I don’t usually talk in absolutes, but there are two things that are absolutely clear about the effects of the Covid-19 pandemic. First, there will be more demand for online financial services, from a broader spectrum of consumers (by a large margin) than earlier projected growth rates led us to believe. Second, this mass migration to online services is uncovering several weaknesses in the FI space which will require the industry to step back and consider new ways to meet the demand of their customers.

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The Changing Face of Risk

As we continue to navigate the uncharted waters of the COVID-19 pandemic, risk is taking on a whole new face for financial institutions. What may have been seen as an average credit application a few weeks ago, now could be considered high-risk, or worse...fraud. And, I don’t expect things to change back very quickly.

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Lenders Tap The Brakes

There is no question, the current economic conditions are uncharted waters for most businesses today, including online lenders. It is ironic that as thousands of households are tightening their belts and looking to unsecured loans as a way to bridge the financial gap, that online lenders are being much more selective in whom they extend credit.

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Why Do We Rely So Heavily on the NPS to measure CX?

I was looking over the “State of Digital Customer Experience Report – 2020,” published by CMSWire.com and Simpler Media Group, and many of my suspicions and observations were confirmed when it comes to the current efforts to improve CX using today’s most popular technologies. They fall short, typically making decisions based on treating symptoms and not the root cause of CX issues – friction in the digital customer journey.

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