Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced the availability of Predictive Scores SM, a new predictive modeling solution for customer behavior. Predictive Scores leverages insights from multiple, complex data sets (so-called “Big Data”) to provide timely, actionable information that enhance the success of marketing and performance management strategies within financial institutions. Predictive Scores is the latest solution to be available through Intelligent Workplace SM from Fiserv.
Using patented and patent-pending models, Predictive Scores from Fiserv addresses the challenge of harnessing multi-channel transaction data to reveal crucial propensities or probabilities that impact business growth. This multi-channel data includes information from account processing, debit and credit card processing, online and mobile banking, and electronic bill pay systems – representing billions of customer transactions and millions of banking behavior observations.
“The unique combination of data science and big data is what sets our solution apart,” said Danny Baker, vice president, Financial & Risk Management Solutions, Fiserv. “It provides financial institutions with extremely valuable insights that can lower their direct marketing production costs – by almost 50 percent for some clients. The knowledge gained from Predictive Scores provides more accurate, detailed support for building and managing customer-centric growth strategies, particularly for acquiring new customers and expanding existing relationships.”
Predictive Scores is enabling some of Fiserv financial services clients to realize additional return on investment for their direct marketing campaigns. By combining customer predictive modeling capabilities with direct marketing services including strategy, analytics, creative and multi-channel delivery, a more complete solution can be offered.The result is that Fiserv can provide clients with both the customer insight and the direct marketing strategy to execute against that insight to help drive growth. “Predictive Scores can be aimed at many different customer segments and offerings,” said Baker. “Adding the intelligence gained from Predictive Scores to existing customer data and then enabling financial institutions to use this data to increase customer adoption of our leading online, mobile, card, person-to-person payment and electronic bill pay offerings for the financial institution really encapsulate the holistic Fiserv approach that we know our clients are asking for.”