This Q2 paper explores why the marketing role at financial institutions is increasingly becoming a data-driven one in order to effectively anticipate trends and predict account holder needs. It explains why marketers choosing not to use data do so at their own peril.
After the market crash 2008 (and the following recession), the financial services industry found itself challenged by shrinking consumer trust, increasing regulation, and a free fall in the rate of bank charters. Compounded by a wave of competitive growth funded by private equity, a new financial ecosystem—with new opportunities—was formed. Discover how industry participants are removing friction from onboarding, monetizing deposits, reducing risk, and more.
Five Common Threats to a Successful Digital Banking Conversion (And How to Avoid Them)
No financial institution has ever undergone a conversion without a good reason. FIs may decide to expand their offerings, solutions are sunset, or sometimes digital banking platforms just don’t deliver. But whatever the reason, when the dust settles, a conversion should leave your FI in a stronger, more future-ready position.
Q2 has pioneered machine learning as a way to keep account holders secure, and we have built on this technology to transform the way FIs are able to market products to account holders. We’ve found that when machine learning and behavioral analytics are used together, they provide more insights than other methods.
Since 2004, Q2’s mission has been to build stronger communities by strengthening their financial institutions. This mission has inspired the industry’s most comprehensive and adaptable smart banking platform and fueled our efforts to change how the industry thinks about digital banking. In our eBook, The Q2 Difference, learn how we combine powerful problem solving, open technology, and data-driven insights to build better experiences throughout your holders’ lives.
Read this insightful executive summary from a webinar discussing the benefits of Q2 SMART, an innovative platform that greatly improves FI marketing by turning vast amounts of data into a set of high-level behavioral characteristics called “traits.”
Q2 recommends your FI establish an analytics strategy that allows for the growth of deposits and loans, improves security, and increase efficiencies in back-office operations. Equally important in developing a useful strategy, your account holders’ digital data should be used in conjunction with machine learning techniques and behavioral modeling for optimal results.
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