Transform Your Data Into Business Intel & Strategic Decisions

If you have customers with both a direct deposit account (DDA) and loan account—you have the data to identify spending characteristics associated with financial duress. See our infographic on how this data analysis can drive treatment decisions.

Use Advanced Analytics to Drive Strategy

Your bank is data-rich. Advanced techniques collect business intelligence and insights through automation to support strategic decisioning. The aspiration is to turn your raw data into pure gold. For example, cross pollinating behavioral characteristics across products and channels to calculate a statistical propensity can link behavioral change with loss probability.

Revolutionize your approach with advanced analytics techniques. These make it possible to combine information from more sources to enhance, automate and accelerate strategic decision making.

Real-Time Analytics

Leverage connected consumer devices to gather, process and model intelligence in real-time to see new insights as soon activity enters the data stream.

Usage:  because of its immediacy, this helps when decisions and action are needed right away, such as preventing fraud losses.

Predictive Analytics

Understand likely future outcomes by combining multiple data sources.

Usage:  forecast patterns or outcomes such as missed payments or default.

Augmented Analytics (Machine Learning)

The convergence of analytics and AI through neural networks and machine learning so computers can make inferences from a multiplicity of structured and unstructured data.

Usage:  predict and influence customer behavior to achieve your highest goals.

A Real Example Using Direct Deposit Account Data

In this infographic you’ll see how to turn data into corporate gold. We break down how advanced analytics and machine learning use existing behavioral data to predict when and how customers get into arrears. We also define the specific interventions that can both prevent losses and enhance customer value prior to delinquency.

If you have customers with both a direct deposit account (DDA) and loan account—you also have the data necessary to identify spending characteristics associated with financial duress. You can make treatment decisions based off the analysis of this data.

Your bank is data-rich and can provide business intel insights for future decisions. Stay within regulatory guidelines while you tap into existing data repositories to identify and profile important customer signals, turning raw data into pure gold. For example, you can use existing delinquency baselines to identify behavioral change and calculate a statistical propensity that links behavioral change with loss probability.

Infographic showing how to use customer information for financial debt collections

Click here to open infographic.

Intelligence You Can Unlock

Bridgeforce can help you mine data you already have and transform it into business intelligence that you can actually use. By using machine learning to analyze your data, we show your analytics and business teams how to transform data insights into superior strategic decisioning and operations. Get started with our help today. Contact us, we’re here to help.




[Editor’s note: this infographic was created by Michael Orefice, former IT Director at Bridgeforce]

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