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Fiserv Debuts Customer Predictive Modeling Solution
Solution uses customer data to create a 360-degree view of a relationship based on account-level data, online and mobile banking activity, debit card and electronic bill pay usage.
Posted Sep 6, 2013
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Fiserv, a provider of financial services technology solutions, has introduced Predictive Scores, a new predictive modeling solution for customer behavior.

Predictive Scores, which is available through Fiserv's Intelligent Workplace suite, leverages insights from multiple, complex data sets to provide timely, actionable information.

Using patented and patent-pending models, Predictive Scores allows financial services firms to harness multichannel transaction data to reveal crucial propensities or probabilities that impact business growth. This multichannel data includes information from account processing, debit and credit card processing, online and mobile banking, and electronic bill pay systems.

Predictive Scores can be used to support many business objectives, including the following:

  • Boosting response rates and ROI of direct marketing campaigns through more precise targeting of "ready-to-buy" customers;
  • Increasing adoption of digital/mobile banking tools to expand sales of products and fee-based services; and
  • Identifying highest-value prospective customers and making more informed pricing decisions that incorporate each customer's current and risk-of-attrition weighted future value as well as channel, product and service usage preferences.

"The unique combination of data science and big data is what sets our solution apart," said Danny Baker, vice president of financial and risk management solutions at Fiserv, in a statement. "It provides financial institutions with extremely valuable insights that can lower their direct marketing production costs by almost 50 percent for some clients. The knowledge gained from Predictive Scores provides more accurate, detailed support for building and managing customer-centric growth strategies, particularly for acquiring new customers and expanding existing relationships.

"Predictive Scores can be aimed at many different customer segments and offerings," Baker added. "Adding the intelligence gained from Predictive Scores to existing customer data and then enabling financial institutions to use this data to increase customer adoption of our leading online, mobile, card, person-to-person payment and electronic bill pay offerings for the financial institution really encapsulate the holistic Fiserv approach that we know our clients are asking for."

Predictive Scores is available as an in-house solution or via software-as-a-service accessed via Intelligent Workplace from Fiserv. A single sign-on portal, Intelligent Workplace also supports the Prologue Financial Accounting Services suite, Credit Risk Modeler, Trend Modeler, and Prepayment Modeler. The portal makes it easier for end-users to manage and switch between these multiple applications, while seamlessly integrating their organization's risk, budgeting, and reporting data and processes.


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