The Journey To Customer Centricity In A Bank

Customer centricity is a key success factor in retail banking today. Yet, I have seen all too often that when bankers speak about customer-centricity, perception falls short of reality. Most times they are really referring to a desire to become customer-centric or believing they have already achieved a customer-centric organization, while C-level executives relate to…

The Search For Love, Happiness And Purpose In A World of Technology and Data

I think we can all agree that insurance isn’t the most romantic industry. I certainly didn’t imagine myself working in it. But in fact, insurance is one of the key pillars of a functioning society under capitalism. It’s a crucial tenet of our economy – but for the most part, the industry remains stuck in…

What Makes Financial Executives Step Out Of The Office?

Many financial leaders are struggling with digital and data transformations. Day to day dynamics often leave executives confined by a limited set of ideas accepted by their organizations. Attempts to “ask around” or “learn from the best” in order to become innovative are easier said than done. The fact is that there is no better…

Centralized Product Pricing in Your Bank – Overcoming the Obstacles

Imagine the following scenario: The pricing department in your bank decides on a new pricing policy for a mass market deposit product. Your bank has already realized that using a set pricelist and then allowing each branch/region to negotiate with its customers independently is far from being optimal. Why? Because your typical sales person will…

Strategic Analytics – Power to the People!

I can’t seem to resist clicking on those ubiquitous “Buzzwords You Should Stop Using Now” lists. Maybe it’s because they’re always good for a few laughs as well as some much-needed conviction. Unfortunately, I see the term “strategic analytics” – or strategic anything – appearing on these lists all too frequently. But rather than retire…

Getting a Handle on Fee Waivers – Leakage

Revenue growth is still the top priority for banks in 2016, and their biggest concern. In fact, in a recent survey, 80% of banks mentioned revenue growth as their biggest challenge this year. Banks are finding it more difficult to grow margin revenue and are therefore focusing more and more energy on service charge revenue…

Two Crucial Tips For Becoming A Customer-Centric Insurer

I have been talking about the customer-centric insurer for a long time now. In my previous blog, I discussed what being a truly customer-centric organization really means. To succeed in today’s insurance industry, it’s imperative to know and understand what the customer requires in order to make appropriate decisions. As consumer expectations rise, insurers are…

How to build a category-leading FinTech company: 10 Insights from a FinTech veteran

As someone who has been living and breathing FinTech for the past decade in Israel’s blossoming FinTech industry – now considered to be among the world’s leading hubs for FinTech innovation – I have come to understand firsthand the challenges that face Israeli FinTech companies (and FinTech companies in general) and how it’s best to…

Using Hierarchical Data Structures to Drive Better Models

I recently had one of those experiences where parenting intersected with analytics… The other day I told my daughter she has way too many shoes laying around the house. She replied with “well, I bet the Wilsons next door have more.” After I recovered from the initial shock of the smart-mouth-red-haired-monkey’s answer, I pointed out…

Fresh Focus From FinTech During FinovateSpring 2016

The Earnix team has just returned from the FinovateSpring FinTech conference in San Jose, CA. In case you’re not familiar with this conference – it’s two days of seven-minute software demos, 74 presentations in all. It’s intense. It’s techy. And amazing. This is my fifth Finovate event in the past eight years – it’s a…