Independent Banker - August 2021 - 26

NOW ON DEMAND
Marketing
Strategies to
Drive Loan
Volume
KASASA
Featuring:
CW Warwick
VP, Consumer
Marketing
Kasasa
Featuring:
Patrick Dickson
Chief Research
Analyst
Kasasa
Learn why now is the
right time to invest in
marketing and which
specific strategies give
you an advantage over
the competition.
" How well we utilize data will define
our future. Strategically, I think
community banks can be way ahead
of the competition. "
-ANKIT MAHARAJ SINGH, QUINTE FINANCIAL TECHNOLOGIES
report monetizing data assets and
insights through products and
services, according to Capgemini-
evaluating that data can be daunting.
From multiple systems and data sets
to the sheer wealth of information
available, community banks may
experience their own data freeze, or
an inability to act on insights.
Here are three steps to harnessing
the power of data to support customer
experience and increase revenue at
the same time.
1. Leverage internal assets in
support of strategy. As a starting
point, community banks can begin
exploring specific components
of their existing data to identify
behaviors. For example, if the
bank wants to grow its younger
customer base, it can start by
segmenting current customers
who fall into a certain age range
and then explore which products
and services this group uses the
most. That information can provide
insights into potential crossselling
opportunities, as well as the
products and services to lead with
when marketing to new customers.
" Look inside and see what
you have, " Johnson says. " A lot
of the gold is sitting right there
under your fingers. Don't ever
underestimate what can be
found with some of the simplest
of approaches. "
QUICK STAT
60%
REGISTER TODAY!
To register and view our full
library of free on-demand
webinars, visit the Independent
Banker Webinar Center at
Independentbanker.org
of bankers report monetizing
data assets and insights
through products and services
Source: 2020 Capgemini report
2. Complement internal data
with external sources. Once
a community bank becomes
accustomed to using its own data,
additional sources can be layered
on. By augmenting internal
data with outside behavioral
or geographic information,
community banks can get a better
picture of their customers' needs,
deepen their banking relationships
and offer personalized solutions.
Kim Snyder, CEO and founder of
KlariVis, a Roanoke, Va.-based
data analytics software platform,
says by doing this, community
banks can take a page out of the
playbook of large retailers.
" External data sources allow
you to create that contextual
intelligence, " Snyder says. " So,

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Independent Banker - August 2021

Table of Contents for the Digital Edition of Independent Banker - August 2021

Table of Contents
Independent Banker - August 2021 - Intro
Independent Banker - August 2021 - Cover1
Independent Banker - August 2021 - Cover2
Independent Banker - August 2021 - Table of Contents
Independent Banker - August 2021 - 2
Independent Banker - August 2021 - 3
Independent Banker - August 2021 - 4
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Independent Banker - August 2021 - Cover3
Independent Banker - August 2021 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
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