Tag: financial institutions

Financial institutions can unlock value through analytics to gain insights that drive smarter decisions and better business results.

A unified data strategy can help unlock the full potential of an organization’s ability to turn raw data into actionable insights.

Proactive credit limit increases can be a game-changer for financial institutions, improve financial health and stability.

By leveraging loan loss analysis, lenders can create more profitable business opportunities throughout the entire customer lifecycle.

Loan loss analysis helps financial institutions identify the characteristics and performance of loans that have been lost to competitors.

GenAI is pushing financial institutions to focus on improving efficiency, productivity, and time to value during the modeling lifecycle.

Financial institutions can help protect clients by educating them on the warning signs of fraudulent lottery scams.

Debt collectors face many challenges when trying to contact the right people at the right time and improve collection strategies.

Using AI in debt collection can help financial institutions leverage technology to ensure more accurate and timely collections.

In today's fast-paced financial landscape, financial institutions must stay ahead of the curve when it comes to account opening and onboarding. Digital account opening, empowering a prospective client to securely and efficiently open a new account, is key to how banks, credit unions and other financial institutions grow their business and expand their portfolio. Regardless of the time, money and other resources a financial institution invests in marketing to the right target prospect and tailoring an attractive offer, it’s worthless if that prospective customer can’t complete the process due to a poor account opening experience. Unhappy customers vote with their feet. A recent Experian study found that of the more 2,000 consumers surveyed who’d opened a new account in the last six months, 37% took their business elsewhere due to a negative account opening experience.   The choice of a reliable partner can make all the difference to your account opening and onboarding experience. The right partner must provide your financial institution with access to the freshest credit data; advanced analytics, scores and models to empower you to say yes to the right customers that meet your lending criteria; and industry-leading decision engines that make the best decisions and enable you to provide a seamless customer experience.  Moreover, the right partner will also help you in maintaining high levels of security without compromising user experience, all while adhering to regulatory compliance.  Recently, Liminal, a leading advisory and market intelligence firm specializing in the digital identity, cybersecurity, and fintech markets, released its highly anticipated Link™ Index Report for Account Opening in Financial Services, which evaluates solution providers in the financial sector, in the areas of compliance and fraud prevention for account opening. The report recognized Experian as a market leader for compliance and fraud prevention capabilities and market execution. Experian’s identity verification and fraud prevention solutions, including CrossCore® and Precise ID®, received the highest score out of the 32 companies highlighted in the report. It found that Experian was recognized by 94% of buyers and 89% identified Experian as a market leader.   “We’re thrilled to be named the top market leader in compliance and fraud prevention capabilities and execution by Liminal’s Link Index Report,” said Kathleen Peters, Chief Innovation Officer for Experian’s Decision Analytics business in North America. “We’re continually innovating to deliver the most effective identity verification and fraud prevention solutions to our clients so they can grow their business, mitigate risk and provide a seamless customer experience.”  You can access the full report here. To learn more about Experian’s award-winning fraud solutions, visit our identity fraud hub.  Download Liminal Link Index Report

Follow these diversity annd inclusion in the financial services best practices to help underserved consumers and grow your business.