Many financial institutions have been attracted to the potential capability and competitive advantage big data offers, yet only a fraction have been able to harness the power. Privacy, compliance, and security concerns, organizational data silos, and a lack of tools for analyzing large and diverse data sets—all of these have been barriers for financial institutions in effectively using their data to drive strategy.
PHEMI Central can securely keep up with the volume and manage the variety of financial data. With PHEMI Central, financial organizations can:
- Aggregate all of their customer data, even across distributed systems, to create a single unified view of the customer
- Analyze all types of data, including semi-structured and unstructured data, using powerful metadata and visualization tools to run enterprise-wide risk management and customer analytics
- Protect, secure, and govern their sensitive information, without sacrificing the flexibility of their data, to prevent data breaches and the associated costs
The explosive growth in customer data and the rush to move business online offers banks and insurers new opportunities to understand customers better. However, the increase in efficiency, speed, and global accessibility also provides fraudsters with the same opportunities for criminal activity. Financial services firms need to proactively protect themselves and their customers from this high-cost activity—so harmful in terms of financial loss, damage to reputation, and loss of customer trust.
With PHEMI Central, banks can use all of their data to understand and predict where fraud may occur, identify aberrations in customer behavior in real time, and investigate internal vulnerabilities that may prevent institutions from catching or preventing fraud.Learn More
Personalization of Services
The Internet of Things (IoT) and the frequent use of web and mobile channels have increased the customer data available, but currently financial services firms are able to use only a portion of this data to generate insight. To retain customers in a highly competitive environment, financial institutions need to leverage their data available to deliver an engaging and relevant experience.
PHEMI Central lets financial organizations aggregate and analyze all types data, including data that is unstructured, so they can understand their customers better. Effective personalizes services allow institutions to recognize specific opportunities to serve each customer, allowing financial institutions to act on strategies that can retain and grow their customer base.Learn More