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Insights that
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Posts in category "Customer Onboarding"


Using Machine Learning to Maximize Customer Acquisition and Retention

Two mothers sit on a park bench, watching their offspring on the playground. Mom No. 1 observes to Mom No. 2, “Your son is very intelligent.” Mom No. 2 sighs, shakes her head and responds, “Yeah, but he’s not interested in learning.” This vignette perfectly encapsulates the relationship between artificial intelligence (AI) and machine learning….

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Doggedly Pursuing Millennials: Banks Need to Hone their Financial Advice Chops

Most pets know when you don’t like them. They can sense your antipathy, but pets handle this dislike differently. I’ve found that cats, quickly dismiss people who don’t like them. Cats will quickly turn off the charm and do what they can to bug you. For example, my best friends cat routinely sneaks up behind…

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The Role of Follow-Through in Loyalty-Building Onboarding

We love our jargon in the banking industry, and financial institutions today have managed to expand Eddie’s simple six-word formula for success into multiple layers of terminology, seasoned with plenty of technology. We talk about creating an ideal “customer journey,” “data-driven insights” to drive “segmentation” and “build brand loyalty,” as well as the importance of…

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Best Practices for Onboarding Millennial Customers

By now, the entire banking industry is aware of the growing economic power of the millennial generation. In a few short years, millennials have overtaken all other generations as the largest since the baby boomers, and as the most populous in the workforce. Millennials will be the borrowers and investors of the immediate and foreseeable…

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Simplification Secrets FIs Can Learn from FinTech Companies

In the ongoing contest between traditional banks and disruptors, FinTechs are looking pretty good. In fact, a recent EY global survey found 15.5 percent of consumers polled had used at least two FinTech products in the past six months. Why are FinTechs gaining so much ground? It’s not just about superior speed, convenience, flexibility and better tech…

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The Secret to Survival: The Digital Transformation is All About Customers

The banking digital transformation is all about customers. Why are many banks, especially smaller community financial institutions, still resisting the digital transformation? Without question, the change is happening. Undeniably, FIs that fail to keep up will find themselves at the back of the pack, struggling to regain a leading position in the marketplace. Many factors…

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What Ikea Can Teach Us About Onboarding New Account Holders

Ikea is known worldwide for a few things. The first is for selling highly-functional, ultra-affordable furniture available in bulk. They come into major metro areas with one massive store and let their marketing engine build the excitement. People drive from all over the metro area for the experience and for the trendy designs from the…

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