Last week, INETCO released a blog that focused on the top three 2016 resolutions for our transaction monitoring product, INETCO Insight. As we start a new calendar year, I find myself excited when I think of what’s also in store for banks and credit unions interested in our customer engagement analytics solution, INETCO Analytics.
In 2016, INETCO Analytics is going to turn ONE. There are going to be some interesting customer announcements as well as some exciting partnerships. But all that will become apparent in time, so for now, let’s focus on the non-spoilers for 2016.
Looking at where this on-demand data solution is headed, INETCO Analytics is primed for some exciting enhancements in the following areas:
- Ingesting more Big Data
- Proactive alerts
- Self-learning algorithms
Many banks and credit unions are looking to create the most compelling customer experience by performing instant, on-demand analysis of current behavior. To do this, you need unbarred access to the most valuable and relevant data that details your customer’s most recent interactions.
For INETCO Analytics, we can already stream real-time transaction data across all your banking channels. In addition to this rich data source, ingesting more Big Data is going to specifically revolve around two aspects of the data: Variety and Perspective. With a focus on integrating into a myriad of data sources from existing customer databases to new partner data feeds, INETCO Analytics will provide a lot more variety in data that banks and payment processors can obtain, easy, on-demand access to. With hooks into different systems (POS, Cards, ATMs, Online, Mobile), the variety and volume of customer engagement data that is available will increase dramatically. Where the omnichannel banking perspective comes into play, is the constant drive to present the data with a lens on the customer to make better decisions about revenue enhancing service offerings, and recommendations on engaging your various customer segments better (ie: the right product to the right customer, through the right banking channel…).
INETCO Analytics will give banks and credit unions a customer view across multiple banking and payments channels spanning from adoption and usage rates to experience and path analysis. With so many touchpoints of customer engagement behavior, financial institutions will have laser focus on the metrics that matter when it comes to increasing profitability and improving customer satisfaction through better offerings.
2. Proactive Alerts
There are so many ways we manage our time on a daily basis. Some ways we control the calendar, such as tasks lists, to do lists, and follow-up reminders. Other ways we are responsive to the pull of meetings, project schedules, and a myriad of other productivity tools. All the while, we are trying to make the best decisions and use of our time given the best data available.
In 2016, INETCO Analytics will proactively provide that data to you without adding to the noise. Through background analysis and event-driven alerts, the customer experience information that is relevant will come to you rather than you needing to find the time in your day to track it down. Proactive alerts from INTECO Analytics will provide a centralized notification system for your business metrics and activities. This will make the difference between pulling the data you have easy access to, versus getting sent the data that you need.
Alerting will be a precursor to getting future analytics and algorithms more quickly to the people who can take advantage of it!
3. Self-learning algorithms
Way back in 1955 when John McCarthy coined the term “Artificial Intelligence,” science has been inching forward to the concept of intelligent machines. Although there are a whole slew of terms that refer to specific topics, disciplines and fields of study such as Machine Learning, Predictive Modelling, and Deep Modelling, INETCO is going to focus on Fintech algorithms!
In 2016, INETCO Analytics will have even more new algorithms that will use data to make data-driven predictions or decisions. In addition to constantly enhancing the existing approaches where the algorithm is continually improving in accuracy and performance, hence learning from itself!
These are just some of the highlights of where we’ll be taking INETCO Analytics in its 2nd year. If you have any questions about INETCO’s solutions, or would like to learn more on how they can help you manage the performance of your various omnichannel and customer banking engagement initiatives, please do not hesitate to make contact with us through .
Wishing everyone a successful and prosperous 2016 and you’ll hear from me throughout the year about the progress we’re making.