November 20186Banking analytics is gaining momentum to become one of the main drivers of innovation in today's banking landscape which is growing highly non-physical, digital, and competitive. Banks can apply the results of banking analytics in real time and make business decisions accordingly to improve their revenue and banking experience delivered to their customers. For instance, the analysis of spending patterns of customers and main channels of the transaction such as ATM/credit/debit card payments, customer feedback, and more facilitate risk assessment, compliance & reporting, and fraud management to provide customized, and secure banking services to customers. Customer Lifetime Value (LTV) is a prime focus of banking analytics. Customer LTV is how long the organizations are able to retain their customers. Banking analytics assists banks to enhance the customer engagement efforts by using the knowledge from previous scenarios to understand why customers respond to certain messages and promotions. It also helps banks identify who the best customers are, make them better in different ways, win them over, and secure their loyalty. Banking analytics also provides internal controls and risk management along with growth opportunities for banks.While the benefits of banking analytics are many, the domain also faces challenges such as the need for legacy infrastructure to be upgraded for advanced banking analytics capabilities, collating customers' siloed data, need for resources, and customer concerns about privacy. However, despite the challenges, steps forward are underway with banking analytics solution and service providers leading the way.In this scenario, coming up with this edition has been a dive into exploring a plethora of solution providers, changing trends, need of the hour and an indication into how the future of banking analytics would turn out to be. We hope the valuable insights from industry thought-leaders and the innovative solutions from leading as well as emerging companies featured in this edition will help you in making informed decisions for your banking endeavors.Write us your thoughts.Copyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.NOVEMBER - 28 - 2018Contact Us:phone:510.402.1463Fax:510-894-8405Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com NOVEMBER - 28 - 2018, Volume 04 - 09 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesT: 510.996.5123BANKING ANALYTICS SPECIALAndrew D'souzaandrew.dsouza@bankingciooutlook.comVisualizerJohn GouthamIssac GeorgeManaging EditorJames RobertsonBanking Analytics for Enhanced Customer ExperienceJames RobertsonManaging Editor editor@bankingciooutlook.comCarolynn WaltersJustin SmithJoseph MichaelEditorialKenneth ThomasTenzin ChogkyiVishnu Santhosh*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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