PFM and data mgmnt
Get flash to fully experience Pearltrees
May 18 (Bloomberg) -- Mint Software Inc., an online service that helps consumers track every dime they spend, has a goal for its own pocketbook: boosting sales as much as 10-fold this year. To fuel revenue, the company may start charging for access to anonymous data, Chief Executive Officer Aaron Patzer said. The company’s site, Mint.com , monitors everything from bank balances and credit cards to 401(k)s. That could give valuable insight into consumer spending and the economy, he said.
Mint.com May Begin Selling Access to Anonymous Consumer Data - B
A better Internet Bank? Who gets it right...
So let's get this straight. Your bank marketing team has just spent US$1m upgrading your site and putting offers all over 3rd party properties to direct traffic to your website and trigger acquisitions, but still 95% of visitors are clicking through to Internet Banking. How much product are you selling behind the login? Well, if you are most banks - virtually zero.
When people want to transfer money safely and directly to one another in the Europe, they go through their banks. But in the United States, they're more likely to use PayPal. This is good news for eBay, which phased out a competing payment system and bought PayPal in 2002 for $1.5 billion. eBay's revenues were up 16% in the last quarter of 2009, in good measure due to PayPal, which PC Magazine reports processed $20 billion worth of transactions for 81 million customers in that quarter alone. But it's bad news for U.S. banks, which it might be argued, should have been reaping the benefits eBay is now enjoying. In fact, that's exactly what Anil Arora argues, and as CEO of Yodlee (the company that makes the software running the lion's share of the online-banking operations in the United States), he's in a pretty good position to know. PayPal shouldn't exist, he maintained in a recent interview with Reuters columnist Felix Salmon .
A Better Way to Serve Your Existing Customers - The Conversation
Info in Demand at Banco Popular - Bank Technology News Article
Governance is about prioritization, and data management is no different-certain types of informational inaccuracies need to be corrected before others, particularly for compliance and reporting. There's not much in banking that doesn't hinge on data these days, whether it's risk management, compliance, customer relationship management or marketing. Ensuring that data is reliable, and available when needed, has become a growing industry as banks hire data scrubbing firms to keep things in order. Spain's Banco Popular is at the forefront of this movement, recently wrapping up a project that added automation to the bank's data management procedures.
Do You Mind If Mint Sells Data Based On Your Transactions? - The
Financial blogger Felix Salmon wants to know why there isn't regulatory oversight of Mint and other financial management websites, especially if they're going to sell data created from their users' transaction histories. Mint's CEO Aaron Patzer spoke at SXSW on Saturday and said that the company is sitting on a gold mine of customer data that it may or may not sell. Here's how Salmon paraphrases it in his blog post: [Patzer] started talking about the rich value of all the store-level data he was sitting on. For instance, he said, he can see pretty much in real time how much money his huge database of customers is, in aggregate, spending at Blockbuster vs Netflix vs Redbox, or any other set of retailers — and that kind of information would surely be extremely valuable to hedge funds. It was clearly something he’s talked a lot about, and he never said that he wasn’t already selling that data to the highest bidder.
Several years ago, US Bank wanted to improve its uplift modeling , an analytical method for finding the incremental impact of targeted marketing activities. When you register, you'll begin receiving targeted emails from my team of award-winning editorial writers on the latest customer relationship management (CRM)and call center technology issues today. Our goal is to keep you informed on the hottest issues facing this fast-changing industry.
CRM analytics seeing investment
The Scientific Marketer: Uplift Modelling FAQ
Q. What is Uplift Modelling? A. Uplift modelling is a way of predicting the difference that an action makes to the behaviour of someone.
While the goals of business intelligence always have been to improve the value of customer relationships and thus the bank's bottom line, the ever-increasing competitive business environment in financial services is forcing banks to rethink their BI strategies. A new philosophy centered around enterprisewide use of BI tools -- coupled with advances in analytics and data management -- is helping banks make better and more-profitable business decisions. All the arrows point to the increasing priority placed on BI by financial services firms. As companies seek to enhance their decision-making capabilities for everything from underwriting to cross-selling to risk management, investment in BI-related technology is on the rise in banking -- according to TowerGroup (Needham, Mass.), spending on BI will reach $16 billion to $17 billion in 2006.
The Next Level in Business Intelligence by Bank Systems & Techno
Jeff Jonas: To Anonymize or Not to Anonymize, That is the Questi
I see a future in which organizations planning to transfer sensitive information from one system of record to some other destination will first ask themselves the question: "Can our data be shared in an anonymized form while achieving materially similar results had the data been transferred in clear text?" And if the answer to this question is "yes," I would then argue, "Why would that organization ever share that sensitive information any other way?" A new class of technology, " Analytics in the Anonymized Data Space ", is making this possible. With this type of technology, information can be anonymized before being transferred between parties, while still permitting sophisticated analysis to be performed on the data even though the data is in a non-human-readable and irreversible form i.e., anonymized.
Standard Bank SA live with LAPS
IBS Journal Archive - IBS Journal Archive 2010 Standard Bank of South Africa has gone live with Logica's LAPS solution as phase one of a major payments modernisation programme. The work centralises the bank's payments activities in Johannesburg.
IBS Journal Archive - IBS Journal Archive 2010 Deutsche Bank makes headway with its MTNA payment platform in Asia, adding Clearing Corporation of India Limited, Agricultural Bank of China and Bank of China to its customer list.