Challenging The Status Quo: How Banks Can Win In The PSD2 World

In less than six months, the second Payment Services Directive (PSD2) will have been implemented into law in all European Union member states. The Directive is a landmark moment in banking, introducing competition to the payments market and overturning the status quo. In the PSD2 world, banks will not only compete with each other, but…

Are You Making these 7 Mistakes When Deploying Your Models?

I am always excited to see more organizations wanting to use analytical models at the center of their business processes. Like most things in life, the road to success is not straight; sometimes there are a few road bumps to navigate. The same is true for integrating models into the production environment. For instance, even…

How Insurers Can Better Understand Multi-Product Customer Behavior – Machine Learning Can Help

It’s all about the data. That’s the message I kept hearing at the CAS Ratemaking and Project Management conference in San Diego this spring. The message was so strong, that I was asked to present my seminar, “Multi-Product Optimization: Challenges and Opportunities” not once, but twice along with LaCapitale’s Bruno Tremblay at the annual conference.…

Conversion & Retention Modeling Done Right: The Four Keys to Success

These days, many industries are spending millions of dollars in research to achieve their customer-centric goals. The insurance industry is no different. Insurers are continually raising the analytical bar to gain a better understanding of their customers. Being able to accurately predict consumer behavior is the key to being a step ahead of the competition.…

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…