The volume and breadth of data at the banker’s fingertips in the post-digital era could easily boggle one’s mind. According to a recent Forbes article, something like 90 percent of all the world’s data were generated in the last few years.
With the advent of new services in connected vehicles and ride sharing apps, bankers are looking to make use of all that “digital exhaust,” or data left over after use of a vehicle. However, efforts to make use of these and other data sources have at times been stifled because so much of the data are unstructured and hard to analyze. Manual interventions inflate costs and just are not practical at scale.
The good news is next-generation analytics powered by AI are increasingly capable of “learning” how to read the messiest data set and deliver insights bankers can use to better serve customers. I was fortunate to present how this works in the auto finance space to attendees of the Banking Growth Forum 2019 hosted by Accenture’s partners at Nomis in San Francisco.
I appreciate the hard work of the Nomis team in putting on a stellar industry event, inviting me to share how bankers can use intelligent signals to make relevant offers to their customers in real-time, and for giving me the opportunity to share my thoughts on the future of auto finance in the interview below.
Watch more conversations from Banking Growth Forum 2019 and stay tuned to receive the latest updates coming soon on BGF 2020.
Cameron, Managing Director – Specialty Finance, Accenture, helps prepare banking clients for data-driven success in the digital economy. His focus is on the specialty finance market, which includes auto and equipment lending at banks, the captive finance businesses of manufacturers, and independent lending & leasing companies.