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Customer Centric Lending: Leveraging Prescriptive Analytics to Improve Customer Experience
The digital lending era has brought new competition and greater choice in consumer finance. New data, analytics, mobile applications and cloud technologies are competitive differentiators between traditional lenders and new FinTech marketplace lenders. With new customer analytical segmentation strategies based on increasing data volume, lenders are now able to simultaneously increase customer product choice and pricing while improving customer engagement and satisfaction. Developing the right loan product offers will attract new customer segments and reward existing customer loyalty, while improving lender loan volume, margin, risk and revenue targets. Lenders must first overcome challenges. Pricing is a significant factor in the customer’s loan decision, but many lenders also lack the agility to segment customers by loyalty, marketing, risk and price sensitivity data to make pricing a bigger part of the customer engagement equation. Moreover, spreadsheet-driven pricing is difficult to manage and audit for compliance purposes. Financial institutions need new and improved data and analytics solutions in order to deliver. The good news is that many of yesterday’s technology hurdles can be overcome today.
- In this webinar, you will uncover: Changing market drivers behind the need for differentiated loan pricing strategies and technology
- Successful strategies used to segment customers by product, price and loyalty characteristics
- Innovative analytical methods to meet the needs of new and existing banking customers
- Specific use cases in personal lending and auto lending that illustrate how retail banks are using multiple data sources, analytics and software to optimize the total value of the customer relationship
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Craig Focardi, Principal Executive Advisor, CEB TowerGroup Retail Banking
Craig is a Principal Executive Advisor for CEB TowerGroup Retail Banking, specializing in mortgage and consumer lending systems, core banking systems, enterprise content management systems, scoring and decisioning analytics, and business process outsourcing. He covers a wide range of business, process, and technology topics across these disciplines.
With more than two decades in financial services, Craig has worked in product management at Wells Fargo Home Equity, served as vice president of product marketing at CQM Mortgage Holding, Inc., and spent nine years at PMI Mortgage Insurance Co. where he managed strategic planning, product, development, and market research functions.
Jonathan Moran, Director, Product Marketing, Earnix
Mr. Moran is responsible for global product marketing activities for Earnix. Mr. Moran joined Earnix in September of 2016, bringing over 15 years of industry experience with him. Prior to Earnix, Mr. Moran worked at both SAS Institute and the Teradata Corporation in pre-sales, consulting, and marketing roles.
Over the past 16 years, Mr. Moran has had the opportunity to not only architect, develop, demonstrate, and implement analytical software solutions, but he also had the opportunity to work on-site with Fortune 500 customers across industries helping them solve unique digital marketing analytics business ideas.
Mr. Moran graduated from North Carolina State University with an undergraduate double major in Marketing and Spanish Languages and Literatures. Mr. Moran also holds a MBA from North Carolina State University with a concentration in Technology Commercialization.