[vc_row][vc_column][vc_column_text]An interview with Earnix CEO, David Schapiro

Sitting in David Schapiro’s office last week, I was quick to learn of his passion for the sea. The Earnix journey that started over a decade ago, can be thought of as a voyage over the changing seas of the financial services industry. Going into 2016, I wanted to take the opportunity to gain more insight about Earnix’s founding vision and current direction; especially at a time when the financial services industry is rapidly embracing a new tide of data and analytics technologies.

Here are the highlights of our discussion:[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_column_text]

David, starting with your background – why did you get into the business software solutions field?
“My educational background is in mathematics, statistics and computer science, however I have over 30 years’ experience in enterprise software, analytics and software optimization. My expertise in marketing was inspired by the training I received from the Chasm Group, which focused on how to bring new, innovative technologies into mature markets.

I believe in continuously learning, adapting and spearheading new initiatives without being held back by the fear of making mistakes. This belief is imbued in my personal life and despite being a grandfather already, I took up surfing only four years ago. I carry this belief into my professional life at Earnix too; although Earnix is a relatively mature company, we remain at the forefront of the analytical software industry for financial institutions, by always innovating and approaching problems with a fresh perspective.”[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text] [/vc_column_text][dt_quote type=”pullquote” font_size=”normal”]“I believe in continuously learning, adapting and spearheading new initiatives without being held back by fear”[/dt_quote][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_column_text]

David, what would you say is the need for an integrated customer analytical view?
“In order for financial institutions to stay relevant and profitable, it is important for them to find ways to establish more customer-centric models, both internally and externally. This means that they need to leverage the data they have in order to obtain a clear, holistic view of all the products their customers hold and of the interactions their customers have. Predictive analytics is the way to gain this integrated customer insight and understand how the customer would like to be served. Armed with this knowledge, financial institutions can build and nurture long term relationships with their customers.”[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text] [/vc_column_text][dt_quote type=”pullquote” font_size=”normal”]“Predictive analytics is the way to gain integrated customer insights and understand how the customer would like to be served”[/dt_quote][/vc_column][/vc_row][vc_row][vc_column][vc_column_text][/vc_column_text][vc_column_text]How is Earnix set to address this need, now and in the future?
“Earnix’s sole focus and experience is in the financial services industry. We find it crucial to listen to the needs of our customers, many of whom are industry leaders themselves. We serve a diverse range of financial institutions in five continents – including insurance companies and banks. As such, we often find that our accumulated knowledge of this diverse customer base serves as a rich source of know-how and added value. We share some of these learnings at the Earnix Pricing & Innovation Summit event which provides a unique platform for financial industry leaders to explore and share the latest advancements in applied analytics for data driven decisions. Lastly, to maintain our leadership position, Earnix continues to invest a substantial amount of capital in research and development.”[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_column_text]

David, you’ve repeatedly been quoted discussing the analytics “driver seat” concept, what is the essence of that?
“Earnix software offers an enterprise grade solution that places its customers in the “driver seat”. We focus on knowledge transfer from day one, and our system is built for full self-sufficiency. We support those customers who desire to become analytically independent and enable them to manage their entire analytical framework, software and methodologies while leveraging their own resources. However, some financial institutions are not yet ready to be self-sufficient and our flexible model allows us to stay in control and help the company until they are ready to take over themselves. Analytical independence enables the development of an efficient operation, intellectual property and eventually a business competitive advantage over the competition.”[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text] [/vc_column_text][dt_quote type=”pullquote” font_size=”normal”]“We support our customers desire to become analytically independent and to be able to manage their entire analytical framework, software and methodologies while leveraging their own resources.”[/dt_quote][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_column_text]

What are the coming needs you foresee the industry demanding?
“Over the next 5 years, I see a significant growth in digital and mobile customer interactions. This will produce more data which will require more analysis, insights and foresights in order to make informed and accurate decisions. To enable this, financial institutions need instant connectivity to operationalized analytics. They need to shorten the analytical process in order to improve time-to-market of pricing strategies and decision-making processes. They then need to have an effective and insightful feedback loop to maintain the relevance of their decision-making models and sharpen their ability to react quickly to changes in the market environment. Organizations that accomplish this will be able to better target and optimize customer interactions. To that extent Earnix pioneered, and will continue to evolve, an integrated platform that combines deep predictive analytics with real-time connectivity to core operational systems. Our concept brings the power of analytical driven decisions to every customer interaction in every channel and feeds back the realities of the market into the modeling environment.”[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_column_text] [/vc_column_text][dt_quote type=”pullquote” font_size=”normal”]“Our concept brings the power of analytical driven decisions to every customer interaction, in every channel, and feed back the realities of the market into the modeling environment”[/dt_quote][/vc_column][/vc_row]