Category: Business Intelligence in Banking

How to Use an Inventory of Business Intelligence (BI) Tools for Banks

Even with technology advances and automated processes, bank productivity and efficiency can lag. For example, according to the Mortgage Bankers Association (MBA), mortgage loan production expenses for banks actually increased to $9,299 per loan in the first quarter of 2019, and productivity remained unchanged at 1.8 loans originated per production employee per month. While banks typically have a lot of data, they lack the ability to drill down into their banking operations and measure performance, cost effectiveness, customer service, efficiency, and more. This lack of insight can be crippling for…

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Banking Analytics: A Complete How-to Guide with Use Cases, Case Studies + more

You’ve likely heard about implementing advanced analytics in the banking industry: As a collection of strategies, technologies and measurements, it can help you analyze vast swaths of data. This guide will help you to understand just what banking analytics is, and how it applies to your operations. It will give you useful definitions. It will describe the numerous advantages and unique benefits that advanced analytics implementation brings to the banking industry. It will show you how to derive operational benefits from analytics in banking. It will discuss key performance indicators…

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Top three banking dashboard examples and how to implement them with Business Intelligence

What are the benefits of a banking dashboard for your operational business intelligence? You can scour the Internet for reasons why to implement a banking dashboard and examples of how to do so. But in this article, we’re going to take a good close look at what banking business intelligence dashboards can do for your operations. Benefits of properly implemented banking dashboards include: Transforming unused banking data assets into insights that drive results. Live reporting instead of waiting for monthly roll-ups from manual analysis. Increased accuracy of reporting. Improved operational…

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The top three benefits of business intelligence in banking

The benefits of business intelligence in banking are many. We’re talking amped-up operational improvement, cost cutting, and a transformative customer experience. Business intelligence, or BI, lets you harness heavy-duty analytical concepts. It lets you slice and dice data. And it lets you do all this on an unprecedented scale. It gets even better. Once you have a BI-empowered handle on all this data, you can transform your bank from the front line all the way up the enterprise. You can make life better for internal and external customers alike. All…

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How to cut costs and increase standardization—thanks to business intelligence in banking

We see it all too often. Banks struggle with—“drown in”?—messy data. They struggle to deal with it. So, they throw Excel sheet after Excel sheet at the problem. Why? They want to report as much as they can. And they miss the importance of business intelligence in banking. Does this help? Does it solve the problem? Of course it doesn’t! You knew that. But it still happens. It leads to long hours. High costs. Lots of people working on lots of reports—all of questionable value. How, then, do you solve…

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