Prospect data Marketing for Banking

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Prospect data Marketing for Banking Sector For
Ultimate Profit
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• It is widely acknowledged that the digital
  revolution spreading to the financial sector is a
  serious threat to traditional banks. The pace of
  change over the last decade has left many
  institutions uncertain about how best to embrace
  the digital future. In the face of new
  competitors and technological advances, it is
  easy to assume that traditional banks will
  inevitably lag behind when customers turn to
  challenge banks and third parties to provide
  financial services and products. It is often
  forgotten that, as incumbents, large banks have
  certain advantages that their smaller competitors
  do not have. Undoubtedly, the biggest advantage
  is with the data for making Profit. (BBGV1512021)
• Open banking facilitates the sharing of customer
  information between banks, customers and other
  third-party providers - changing the relationship
  between banks and customers. This access to
  information allows challenge banks and to develop
  new innovative financial products and services,
  but traditional banks have ideal opportunities to
  improve their customer experience with the vast
  amount of information they hold.
• How to create value for customers with data
  becomes an important factor in the digital
  economy. It means creating a more accurate
  understanding of customers and the context in
  which they use the services. Communicating with
  customers about products and services in an
  appropriate and timely manner and ultimately
  creating a better customer experience through the
  value of the information.

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• The emergence of cognitive banking A more
  personal form of banking is beginning to evolve
  through enhanced data analysis. This ability to
  gain more value from knowledge through learning,
  understanding, and analysis leads toward
  cognitive banking where artificial intelligence
  and machine learning change the customer
  experience. Cognitive banking is fast data and a
  good user experience and user interfaces for
  customers. It also includes automated or robotic
  artificial intelligence used for fast, accurate,
  cost-effective, and predictable data execution,
  significantly improving the digital banking
  process. In the world of digitalization and the
  digital economy, cognitive banking expresses all
  digital requirements and more.
• In addition to providing services in this way,
  banks need to draw conclusions about their
  engagement strategy with their customers, either
  directly or indirectly, based on real-time data
  from multiple sources. This is part of a
  cognitive banking process that involves
  analyzing, processing, and generating insights
  that lead to new products and deeper targeted
  customer value.
• Switching from big data to fast data Gaining
  greater value and insight requires quick
  knowledge. The defining feature of Fast Data is
  the rapid collection and analysis of data in real
  time. It is about the ability to consume,
  analyze, and implement a vision produced from
  multiple sources of information. Unlike big data,
  this focuses on storage.
• Fast data is a consumption-driven view and
  provides a richer context for analysis and
  decision-making. This will allow banks to provide
  a better and more personal customer experience.
  Value of data In the face of increased
  competition, traditional banks need to make
  efficient use of data and transform themselves
  into knowledge-based organizations that provide
  the data bank. This will lead to better financial
  products and services for customers that meet
  their needs and expectations.

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• However, banks can go a step further by
  extrapolating valuable information about their
  large established customer bases and segments -
  which challengers do not have. This information
  can be commercialized by allowing third parties
  to use segmentation information about their own
  customer base and detail consumer behavior.
• This permissible information, which customers
  have agreed to share, is an important
  development. This opportunity to sell insights
  based on segmentation data offers banks the
  opportunity to gain a profitable new revenue
  stream.
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• Contact Us
• Unit No.450, Mastermind One - IT Park, Royal
  Palms, Aarey Colony, Goregaon(E), Mumbai,
  Maharashtra 400065
• Ph 91 8097027355, 91 9137256150, 91
  9222086563