Fiserv, Inc., the provider of financial services technology solutions, was selected as the winner of the Most Innovative Case Study Presentation awarded by attendees at the Financial Technology Insight Summit held in Boston, Mass., September 30 October 2. Featuring Aperio Customer Analytics from Fiserv, the presentation addressed the need for financial institutions to have a better understanding of customer segmentation, as well as the ability to predict the future behavior of these customers. It showed how banks can create greater relationship value and improve cross selling opportunities by leveraging this information to offer the right products at the right time. With predictive analytics, institutions can increase the rates of return on inbound and outbound marketing, manage delinquencies and address customer churn and retention – thereby driving profitability through more efficient programs.
Entitled Using Analytics in Customer Retention and Uplift Marketing Programs and presented by Carol Cowan, vice president, product management and marketing, Bank Solutions, Fiserv, the case study focused on the use of analytics in customer retention and cross-sell programs. The presentation covered several case studies from organizations using the technology to analyze customer trends and perform uplift modeling. Results indicated that users were able to improve marketing campaign results by 30-300% while decreasing marketing program costs by as much as 40%.
The Best of Financial Technology Insight Attendee Choice Awards winners and nominees are chosen solely by the executives attending the Summit – primarily director-level and above technology management positions at top global banks and other financial institutions.
I believe the awards selected by our attendees truly represent the best of the strategic initiatives and new products that are driving growth in the financial services industry, says Bill Sell, vice president and general manager, CrossTech Media.
Fiserv was also nominated in the categories Best Market Solution, Best New Technology and Best Overall Vendor. Financial Technology Insight Summit is a two-day, invitation-only educational and networking program with structured attendee/sponsor interaction. Award voting takes place on the final day of the program and is based on solutions and product knowledge gained throughout the various educational programs. Twenty-two vendors were in attendance including IBM, Infosys, Harland Financial Solutions and Tata Consultancy Services.
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