I hear a lot of bloggers and pundits speak of the increasingly important target market for mobile payments. After all, the media coverage and social conversation around the topic of mobile payments has reached a fever pitch, and some wonder whether it’s worth all the hype. For example, I was reading the article “What’s missing in […]
Financial Services
Holding on to Banking Customers in the Mobile Wallet Age
According to a Carlisle & Gallagher Consulting Group survey, customers that are interested in mobile banking technology would consider an alternative to their primary bank for both mobile wallet and core banking services. The two largest consumer groups demonstrating this interest are young consumers and affluent consumers, both important demographics for the banking industry. 76% […]
From Little Data to BIG Data – One Step at a Time
The Journey of a thousand miles towards an ACO begins with one step. Healthcare organizations are coming to realize that the programs stimulated by the ARRA – HITECH Act, Meaningful Use (MU) and Accountable Care Organizations (ACO), require something that they don’t have in sufficient quantities, the desired type or in the right format: “Data”. […]
ICD-10: Potential Financial Benefits and Issues
Some healthcare solutions experts foresee the following five financial benefits of ICD-10:[1] Providers can establish or strengthen CDIs by conducting thorough reviews of clinical documentation and implementing improvements, such as a CDI “Lite” program. Development of patient preferences due to new procedures being performed based on more thorough and detailed ICD codes. Patient preference will […]
Mortgaging Customer Goodwill
Almost every week we see another story in the national press about how “unfeeling banks” are foreclosing on a homeowner over an 80 cent payment error, or foreclosing on a house the bank doesn’t even own. After several social media blogs, several thousand tweets and retweets (with fiery commentary) and various news networks report the […]
Calling a Truce Between BPM and Six Sigma
I’ve heard a lot of operations folk talk shop over the years. My GE friends in B-School were the ultimate Six Sigma champions. I learned about kaizen and the art of lean while working in Japan. Then we have the tech champions of BPM technologies. These methods are often backed with an almost religious fervor. […]
Preparing a Bank for the Monumental Changes Ahead
The banking industry is in the state of flux. We have distruptive technologies in terms of mobile banking and payments that are creating siesmic shifts in the way business is done. We need to harness big data that is growing at exponential rates. It’s hard to keep up. As any CIO knows, any organizational change, […]
The Bold New World of Mobile Payments
Imagine a stressed out holiday shopper rushing to make last minute purchases in a busy suburban shopping mall. As the shopper reaches the final checkout of the day to buy the newest gaming console for her son, the total displayed on the register is over her budget. Determined to buy the item, the shopper lifts […]
Top 10 Trends Shaping Big Data in Financial Services
One of our Business Intelligence colleagues wrote a great post recently on the top ten trends that are shaping the financial services industry’s use of big data. 1. Larger market data sets containing historical data over longer time periods and increased granularity are required to feed predictive models, forecasts and trading impacts throughout the day. […]
Managing Process is Key to Dodd–Frank Wall Street Reform
This week I was discussing regulatory compliance issues with our Business Process Management (BPM) guru, Kevin Feldhus. We’ve led some really large and complex regulatory initiatives with banks, but never have we witnessed anything so encompassing as Dodd Frank. The scope of most bank regulatory projects typically focuses strictly on compliance. Any thoughts relating to […]
Banks Use Customer Big Data to Compete
In this competitive banking landscape, organizations face increased pressure to forecast business conditions that allow employees to react and drive value from data. As common sense would dictate, companies should evaluate performance based on increases to firm value. To generate these cash flows, many companies focus on the development of new products and services. However, […]
White Paper: The Intelligent ACO: A Primer
The term “Accountable Care Organization”, or ACO, is used to describe a primary physician centric healthcare delivery system with a shared savings compensation model. ACOs are primary physician-centric groups of doctors, specialists, hospitals, and other health care providers, who voluntarily come together with a proper legal structure which aims to provide coordinated high-quality care to […]