Why delivering personalised communications is a must in financial services

Study after study highlights personalisation is what consumers increasingly expect from the brands they engage with. For example, research from Epsilon reveals that 80 per cent of consumers are more likely to do business with a company that offers personalised experiences. With online financial institutions that rises to 89 per cent, and for those banks with a physical high street…

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How can banks succeed in this new digital age?

Looking back over the first year of Open Banking, it’s only fairly recently that we have started to see the first signs of the innovation it promised in terms of improved services for customers in the digital age. For example, Barclays working with other banks to offer customers access to all their account information from rival banks within its core…

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Is now the time for one global ID verification data source?

It is an inescapable fact that for effective ID verification, and therefore KYC and AML compliance, financial services companies need to access to billions of records in real-time to ensure adequate checks are made while onboarding a new customer, and deliver that all-important smooth customer experience. The issue is, if you are a financial services organisation with a global reach…

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The Role of ID Verification in the Customer Experience

For consumers looking for a smooth onboarding process, ID verification provides an easy to follow procedure meaning that an organisation can quickly establish a customer’s ID enabling a positive customer experience. What is also equally important is that fact that ID verification generates consumer confidence which will also drive a positive customer experience. How so? The customer experience is related…

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The Crucial Role that Data plays in Banking

Regulation and technology are constantly being regarded as the key drivers in banking and although, they play a crucial role, it is data and the ability of big data that is really driving the industry. In order for regulation and technology to reshape the banking industry, there is a need to firms to rethink their foundations and business models and…

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The Role of Data Quality for Charities

2% of contact data is subject to inaccuracies every month which means that almost 25% of data is corrupted on an annual basis. However, new statistics demonstrate that organisations find almost 30% of their contact data to be inaccurate. This is not an alarming statistic as smart technology has meant that we are more connected than ever, but it has…

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ID Verification: a growing trend

Within financial services and insurance, identity verification plays a key role in compliance and regulation. These service providers are regulated institutions who use identity verification platforms to verify customers and their documentation as part of their KYC and AML policies. Verifying your identity with these providers is crucial not only because it helps to build mutual trust between yourself and…

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When does Big Data become Bad Data?

Last month, we spoke about big data and the importance of leveraging such data to provide insights to drive better informed business decisions. But at what point does this data become useless? As we mentioned, big data provides detailed insight as it draws upon information from a number of sources and data points and thus, big data can reveal new…

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Why should financial organisations consider the use of cloud services?

Firms that operate within the financial services sector are facing an increasing number of challenges – from rising demand from both customers and shareholders to increasing pressures to reduce cost and meet regulatory requirements. Although these challenges have the means to cause disruptions, many firms within the industry are facing them head on by creating a new business model. This…

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