On the Breakfast Menu: AI and Prescriptive Analytics in Financial Services

In early March, Earnix hosted an executive breakfast in New York for consumer banking executives who work with analytics related to offer management and pricing. Two speakers presented their views on the state of analytics in financial services. One provided a long-term vision of using Artificial Intelligence (AI), and the other, offered down-to-earth practices of…

Analytics Hackathon – A New Way for Insurance Analysts to Sharpen Skills

The insurance market has never been faced with so many new technologies, bringing with it increased opportunities to leverage analytics in the industry. Yet, for many insurance professionals, keeping pace in this very dynamic market is challenging, which is why Earnix is staging its Xperts Analytics Hackathon in London at the end of February. The…

Earnix Summit 2016: Customer Centricity in a Rapidly Changing Industry

As financial leaders, we are privileged and challenged to live in the most exciting times in the history of the financial services industry. With disruptive technologies entering the market place, the industry is changing at a phenomenal rate and this was highlighted time and again throughout the 5th Earnix Pricing and Innovation Summit that was…

Three Biggest Barriers to Implementing a Relationship Based Pricing Strategy in a Bank

Achieving a customer-centric business has become even more complex today, particularly with the added emphasis on leveraging analytics and big data, managing regulatory constraints, and the entry of non-traditional Fintech disruptors. Considering the pressure banks now face and the increased choices to which consumers have access, it seems as if serving customers on a true…

Auto Finance Summit 2016 – A Quick Review

Last week, the world’s largest auto finance event was held in Las Vegas. It brought together over 1000 participants – lenders, dealers, and software vendors – to discuss the state of the industry and cover current issues. As lenders and dealers are having to account for the new digitally empowered consumer, the way they lend,…

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…

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…