Time for Financial Institutions to Get Serious about Predictive Analytics

This first white paper of the new series discusses the value of predictive analytics for the financial industry and answers the question why this is the right time to start with predictive analytics and how to empower entire organisations to use it. As mobile technology evolves and everything around us – not just our mobile devices– is becoming connected we are entering a new era of connected experiences. The customer journey in the financial industry is completely digitized. This exponentially increases the number of interactions between a financial service company and its customers. Customers expect banks to understand their context and the challenge for financial industry is to be relevant at all these interactions. In this webinar, we will discuss: -How predictive analytics will lead to vast improvements of existing static business rules and achieve progress like reducing cost, increasing revenues and improving customer experience -Why Mobey Forum expects that predictive analytics skills will soon be essential for banks to keep their position in the market against non-banks but also other banks that will be using predictive analytics as a competitive weapon -Why we should not just focus on a "rear view mirror" approach, but also identify and address questions concerned with the future -Areas of application for predictive analytics in financial institutions -Case studies of card-linked offers, next best action, pricing, claim handling, risk assessment