Share |

Thursday, November 20, 2014

3:30 p.m. - 4:00 p.m.
Track: Data View Track

APPLYING BIG DATA TO SMALL BUSINESS BANKING

Moderator: Charles Wendel, President, FIC ADVISORS, INC. (FIC)
Mark Doman, Executive Vice President, Business Development, EBUREAU
Jared Hecht, Co-Founder and CEO, FUNDERA

Leveraging the value of Big Data can improve the effectiveness of small business marketing, increasing productivity and growing bank revenues. Applying a string analytic approach can:

  • Uncover small businesses using consumer bank accounts, allowing for appropriate marketing and cross-sell
  • Quantify the wallet share opportunity available to banks from current customers, helping to set sales goals†
  • Target prospects based upon bank-determined screening criteria, including risk characteristics, eliminating much of the guess-work of initial sales efforts
  • Determine the customerís propensity to buy certain products, allowing banks to set clear priorities for their sales efforts

But, Big Data also needs to be a key part of a larger effort that evaluates organizational effectiveness, ensuring that the people and processes support a targeted effort.†

>> Submit a question to this session's speakers

>> Return to Agenda