How to Leverage Your Data to Win Against National Banks
How to Leverage Your Data to Win Against National Banks
As with many businesses, midsize and community banks have a plethora of data that is typically siloed across many systems throughout the organization. Learn how advanced analytics and valuable business insights can empower these organizations to improve customer relationships and drive competitive advantage.
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Aunalytics is a data platform company. We deliver insights as a service to answer your most important IT and business questions.
Meeting the Challenges of Digital Transformation and Data Governance
The Data Accuracy market (traditionally defined in terms of Data Quality and Master Data Management) is currently undergoing a paradigm shift from complex, monolithic, on-premise solutions to nimble, lightweight, cloud-first solutions. As the production of data accelerates, the costs associated with maintaining bad data will grow exponentially and companies will no longer have the luxury of putting data quality concerns on the shelf to be dealt with “tomorrow.”
To meet these challenges, companies will be tempted to turn to traditional Data Quality (DQ) and Master Data Management (MDM) solutions for help. However, it is now clear that traditional solutions have not made good on the promise of helping organizations achieve their data quality goals. In 2017, the Harvard Business Review reported that only 3 percent of companies’ data currently meets basic data quality standards even though traditional solutions have been on the market for well over a decade.1
The failure of traditional solutions to help organizations meet these challenges is due to at least two factors. First, traditional solutions typically require exorbitant quantities of time, money, and human resources to implement. Traditional installations can take months or years, and often require prolonged interaction with the IT department. Extensive infrastructure changes need to be made and substantial amounts of custom code need to be written just to get the system up and running. As a result, only a small subset of the company’s systems may be selected for participation in the data quality efforts, making it nearly impossible to demonstrate progress against data quality goals.
Second, traditional solutions struggle to interact with big data, which is an exponentially growing source of low-quality data within modern organizations. This is because traditional systems typically require source data to be organized into relational schemas and to be formatted under traditional data types, whereas most big data is either semi-structured or unstructured in format. Furthermore, these solutions can only connect to data at rest, which ensures that they cannot interact with data streaming directly out of IoT devices, edge services or click logs.
Yet, demand for data quality grows. Gartner predicts that by 2023, intercloud and hybrid environments will realign from primarily managing data stores to integration.
Therefore, a new generation of cloud-native Data Accuracy solutions is needed to meet the challenges of digital transformation and modern data governance. These solutions must be capable of ingesting massive quantities of real-time, semi-structured or unstructured data, and be capable of processing that data both in-place and in-motion.2 These solutions must also be easy for companies to install, configure and use, so that ROI can be demonstrated quickly. As such, the Data Accuracy market will be won by vendors who can empower business users with point- and-click installations, best-in-class usability and exceptional scalability, while also enabling companies to capitalize on emerging trends in big data, IoT and machine learning.
1. Tadhg Nagle, Thomas C. Redman, David Sammon (2017). Only 3% of Companies’ Data Meets Basic Data Quality Standards. Retrieved from https://hbr.org/2017/09/only-3-of-companiesdata-meets-basic-quality-standards
2. Michael Ger, Richard Dobson (2018). Digital Transformation and the New Data Quality Imperative. Retrieved from https://2xbbhjxc6wk3v21p62t8n4d4-wpengine.netdna-ssl.com/wpcontent/uploads/2018/08/Digital-Transformation.pdf
Aunalytics to Showcase Daybreak for Financial Services in October at Industry Events Attended by Bankers and Credit Unions from Illinois, Indiana, Iowa, and Pennsylvania
Leading Data Platform Provider Will Demonstrate How Community Banks and Credit Unions Can Gain a Competitive Edge with Advanced Data Analytics Solution
South Bend, IN (September 30, 2021) - Aunalytics, a leading data platform company delivering Insights-as-a-Service for enterprise businesses, will feature its advanced data analytics solution for midmarket community banks at five industry events attended by bankers and credit unions from Illinois, Indiana, Iowa, and Pennsylvania in October. Aunalytics Daybreak™ for Financial Services enables financial institutions to more effectively identify and deliver new services and solutions for their customers so they can better compete with large national banks.
Aunalytics will demonstrate Daybreak for Financial Services at:
- Illinois Bankers Association BankTech Conference, October 7
- Indiana Bankers Association Mega Conference, October 11-13
- Iowa Bankers Association Tech Conference, October 26-27
- Illinois Credit Union League 2021 Annual Convention, October 28-29
- PA Bankers 2021 Convention, October 30-November 1
Aunalytics’ Daybreak for Financial Services offers the ability to target, discover and offer the right services to the right people, at the right time. The solution empowers mid-market financial institutions with advanced analytics and valuable business insights to improve customer relationships, strategically deliver new products and services through data-driven campaigns, and increase competitive advantage with Aunalytics’ side-by-side digital transformation model.
Built from the ground up for credit unions and midsize community banks, Daybreak for Financial Services is a cloud-native data platform that enables users to focus on critical business outcomes. The solution seamlessly integrates and cleanses data for accuracy, ensures data governance, and employs artificial intelligence (AI) and machine learning (ML) driven analytics to glean customer intelligence and timely actionable insights that drive strategic value.
With daily insights powered by the Aunalytics cloud-native data platform, industry intelligence, and smart features that enable a variety of analytics solutions for fast, easy access to credible data, financial services users can find the answers to such questions as:
- Which customers with a credit score above 700 are most likely to buy a HELOC?
- Who are my current members with a HELOC that are utilizing less than 25% of their line of credit?
- Who are my current customers that have a loan and not a deposit account?
- Who has a mortgage or wealth account with one of my competitors?
- Which loans were modified from the previous day?
“Financial institutions have a massive amount of data that is typically siloed across the organization, making it difficult and time consuming to aggregate and integrate for higher business value,” said Rich Carlton, President, Aunalytics. “Aunalytics’ Daybreak for Financial Services enables them to harness the power of their data to gain valuable insights and better target and deliver new services and solutions for their customers so they are better positioned to compete with national banks. We look forward to meeting with bankers and credit unions from Illinois, Indiana, Iowa, and Pennsylvania and show how our advanced data analytics solution can help them intelligently anticipate customer needs and deliver the right products and services at the right time.”
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About Aunalytics
Aunalytics is a data platform company delivering answers for your business. Aunalytics provides Insights-as-a-Service to answer enterprise and mid-sized companies’ most important IT and business questions. The Aunalytics® cloud-native data platform is built for universal data access, advanced analytics and AI while unifying disparate data silos into a single golden record of accurate, actionable business information. Its Daybreak™ industry intelligent data mart combined with the power of the Aunalytics data platform provides industry-specific data models with built-in queries and AI to ensure access to timely, accurate data and answers to critical business and IT questions. Through its side-by-side digital transformation model, Aunalytics provides on-demand scalable access to technology, data science, and AI experts to seamlessly transform customers’ businesses. To learn more contact us at +1 855-799-DATA or visit Aunalytics at https://www.aunalytics.com or on Twitter and LinkedIn.
PR Contact:
Denise Nelson
The Ventana Group for Aunalytics
(925) 858-5198
dnelson@theventanagroup.com
PA Bankers 2021 Convention
PA Bankers 2021 Convention
JW Marriott Marco Island Beach Resort, Marco Island, FL
Aunalytics is excited to attend the PA Bankers 2021 Convention as a Silver Sponsor
Aunalytics will be attending the PA Bankers 2021 Convention in Marco Island, FL as a Silver Sponsor, and will be sponsoring the Everglades Airboat Excursion. Aunalytics has developed Daybreak™ for Financial Services to enable community banks to more effectively identify and deliver new services and solutions for their members so they can better compete with large national banks.
2021 Illinois Credit Union League Annual Convention
Illinois Credit Union League Annual Convention
Chicago Hilton, Chicago, IL
Aunalytics presents Daybreak at Illinois Credit Union League Annual Convention
Aunalytics will be demonstrating Daybreak™ for Financial Services at the Illinois Credit Union League Annual Convention in Chicago, IL. Daybreak enables credit unions to more effectively identify and deliver new services and solutions for their members so they can better compete with large national banks.
2021 Iowa Bankers Association Technology Conference
Iowa Bankers Association Technology Conference
Airport Holiday Inn, Des Moines, IA
Aunalytics is excited to demo Daybreak at the Iowa Bankers Association TECH21 Technology Conference
Aunalytics will be demonstrating Daybreak™ for Financial Services at the Iowa Bankers Association Technology Conference in Des Moines, IA. Daybreak enables community banks to more effectively identify and deliver new services and solutions to their customers by utilizing machine learning and AI so they can better compete with large national banks.
2021 Grand Rapids IT Symposium
Grand Rapids IT Symposium
DeVos Place, Grand Rapids, MI
Aunalytics debuts new managed services offering with embedded security at the Grand Rapids IT Symposium
Aunalytics is excited to showcase its new Secure Managed Services offering at the Grand Rapids IT Symposium. The new service stack combines mission critical IT services leveraging zero trust end-to-end security to ensure people and data are protected regardless of location.
2021 Indiana Bankers Association Mega Conference
Indiana Bankers Association Mega Conference
Indiana Convention Center, Indianapolis, IN
Aunalytics proud to present Daybreak as a Gold Sponsor at 2021 IBA Mega Conference
Aunalytics will showcase its Daybreak™ for Financial Services cloud-native data platform as a Gold Sponsor at the 2021 Indiana Bankers Association Mega Conference. Daybreak seamlessly integrates and cleanses data for accuracy, ensures data governance, and employs AI and machine learning to glean customer intelligence from transactional data and timely actionable insights that drive strategic value.
Illinois Bankers Association 2021 BankTech Conference
Illinois Bankers Association BankTech Conference
Chicago Marriott Southwest, Burr Ridge, IL
Rich Carlton, Aunalytics President & CRO, to present "How to Leverage Your Data to Win Against National Banks" at IBA BankTech Conference
Rich Carton of Aunalytics will be presenting “How to Leverage Your Data to Win Against National Banks” during the Innovator’s Showcase of the Illinois Bankers Association BankTech Conference. Aunalytics is also excited to demonstrate the Daybreak™ for Financial Services cloud-native data platform that enables users to focus on critical business outcomes. Daybreak seamlessly integrates and cleanses data for accuracy, ensures data governance, and employs AI and machine learning to glean customer intelligence from transactional data and timely actionable insights that drive strategic value.
