Analytics and Data Virtualisation – the competitive advantage your business deserves
Financial Service providers consume and produce more data now than at any time in history, but most companies do not put that data to work for them. This could be costing youmore a year in lost revenue, missed opportunities and happier clients. At Precise Prediction we can work with you to help you understand your data better to make better decisions and design new products giving your business the competitive advantage it needs. Some of the areas where this data can be used to your advantage are:
- Recommend new, personalised products to customers based on previous buying decisions and needs, their demographic or sector
- Accurate financial forecasting using historical, real-time and forecast data with the ability to introduce what if scenarios, such as base rate changes, higher arrears percentage etc.
- Improve and optimise underwriting, risk and collection controls helping to reduce arrears and detecting fraud cases earlier
- Predelinquency reporting helping you spot customers at risk and allowing you to help them manage their finances and avoiding arrears
- Keep up to date with the complex and changing regulatory framework including the ability to analyse and run reports in real-time
- Improve operational efficiency and allow to plan for peaks and troughs in call volumes, customer applications and managing new product launches
- Automate complex and costly processes to help provide you and the customer with the information you need, faster
The list of possibilities is almost endless and the above are a few key examples that our Financial Service clients utilise to manage their businesses more efficiently, make informed decisions and increase their operational revenue. A recent Forbes study indicated that 25% of the world’s top financial service providers are now using big data to help them make better decisions faster.
With a collective of over 60 years financial services experience, from supporting new lender or product launches, our consultants can guide through this complex and exciting world and help your business thrive in this very competitive marketplace. Please feel free to give us a call for an initial, no obligation demonstration and to talk through your specific requirements or operational needs, and gain the competitive edge your business deserves