Noreen Seebacher

Banks Should Tap Big-Data to Keep Customers

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kq4ym
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Re: Bank Marketing
kq4ym   12/28/2012 6:51:25 AM
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It amazes me that some of my banks provide such bad service compared to other banks. One would think that someone could take a look at their data and see how services provided either increase the bottom line or don't. And watch customer behavior as they increase deposits and utilize more bank services or the reverse.

Watching data should provide some very interesting opportunities for banks to increase customer satisfaction and their bottom lines.

PredictableChaos
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Fraud Alert
PredictableChaos   12/13/2012 6:20:22 PM
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The first thing I think of when you say "banks and big data" is fraud detection.  My main bank doesn't do so great on this.  Even though I usually travel to the same places in the same foreign countries, they always seem surprised - my debit cards don't work until or unless I call them to get the block removed.  Really? Not impressed.

PC

PredictableChaos
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Bank Marketing
PredictableChaos   12/13/2012 6:19:03 PM
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I'm not a big fan of cross-marketing by banks.  Savings, Checking, Investments, Loans, Personal Wealth Management.  I see how it really benefits the bank.  I don't see how it benefits me.  Guess that's why I deal with several banks.

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bulk
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Re: embrace paranoia
bulk   12/11/2012 9:04:18 AM
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@Beth, I think the odds are better that we would be able to predict the next big thing LoL.

bulk
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Re: embrace paranoia
bulk   12/11/2012 9:03:24 AM
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Catching them early would be the ideal situation, but I just dont think there will be a way to catch them all. I think there will always be startups that have super high valuations out of the gate.

BethSchultz
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Re: embrace paranoia
BethSchultz   12/11/2012 9:03:04 AM
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That or winning the Powerball. It's a coin toss.

Alexis
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Re: embrace paranoia
Alexis   12/11/2012 7:45:00 AM
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It can certainly be expensive to buy them out if you wait too long. Look at how much some of these startups have sold for ...

Noreen Seebacher
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Re: embrace paranoia
Noreen Seebacher   12/11/2012 7:03:14 AM
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Maybe the key is to be alert enough to catch those dorm room inventions early on and buy them out for a modest amount

bulk
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Re: embrace paranoia
bulk   12/10/2012 10:22:56 PM
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@Beth, if either of us could figure that out we would be very, very rich! ;-)

BethSchultz
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Re: embrace paranoia
BethSchultz   12/10/2012 5:10:11 PM
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@buik. I wonder if there's some way to model when the next big thing will strike. ;-)

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