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. Learn more by reading Your Guide to Building an Analytics Strategy from Q2.
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