Aunalytics to Showcase Daybreak for Financial Services at August Industry Events Attended by Illinois, Indiana, Ohio, and Tennessee Bankers
Leading Data Platform Provider Will Demonstrate Its Advanced Analytics Solution Designed to Help Community and Midsize Banks Compete Against National Financial Institutions
South Bend, IN (August 3, 2021) - Aunalytics, a leading data platform company delivering Insights-as-a-Service for enterprise businesses, will feature its advanced analytics solution for midsize and community banks at four industry events attended by bankers from Illinois, Indiana, Ohio, and Tennessee in August. Aunalytics DaybreakTM for Financial Services enables bankers 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:
- Community Bankers Association of Ohio Annual Convention, August 10-12
- Illinois Bankers Association Annual Conference (virtual), August 11-14
- Indiana Bankers Association Convention, August 15-17
- Tennessee Credit Union League Annual Convention & Expo, August 18-20
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 midsize and 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.
“Massive amounts of siloed data are difficult to integrate and present a real challenge to midsize and community banks that want to get a better foothold against their larger counterparts,” said Rich Carlton, President, Aunalytics. “Daybreak for Financial Services mines transactional bank data every day to deliver timely insights, such as which product is a customer most likely to purchase next. This enables mid-market banks to more efficiently target and deliver new services and solutions for their customers so they can compete with national banks. We look forward to meeting with bankers from Illinois, Indiana, Ohio, and Tennessee, and demonstrating how Daybreak helps them anticipate customer needs to deliver the right products and services at the right time to gain a critical edge.”
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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 DaybreakTM 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
How to Identify Which of Your Banking Customers are at Risk for Crypto Scams
The allure of investing early in the “next big thing” has led to interest in investing in cryptocurrency. Cryptocurrency is a type of digital or virtual money that exists in electronic form (no printed dollars or coins). As a new industry, it is highly unregulated compared to other types of investments and banking. While there is potential for a big win, there is strong potential for a big loss.
Crypto Buyer Profile
Crypto investors tend to be younger adults. They decide to put money into a crypto currency investment with the idea that the currency will gain value over time. When compared to current low and no interest checking and savings accounts rates, where money will not grow in a conventional banking account, crypto provides the promise of potential growth.
People use cryptocurrency for quick payments, to avoid transaction fees that regular banks charge, or because it offers some anonymity. It is typically exchanged person to person online (such as over a phone or computer) without an intermediary like a bank. This means that there is often no one to turn to if there is a problem with the exchange.
Crypto Risks
While some crypto investment opportunities may be speculative long term plays, unfortunately unscrupulous scammers have been attracted to the emerging industry. Investors may find their investment to be worth nothing and the value stolen by a scammer. New crypto currency brands emerge often and many consumers do not know which are legitimate. Because crypto currency is stored in a digital wallet, it is at risk from hackers stealing it. Because there is no banking intermediary, there is no one to turn to if there is fraud.
Crypto currencies are not backed by the government. So, if you store your crypto with a third party company that disappears or is hacked and your money is stolen, there is little to no recourse and the government has no obligation to help you get your money back.
Unlike with credit card purchases, returns and refunds are often not possible for purchases made with crypto because the unregulated industry does not offer these protections as standard.
Crypto currency values change rapidly and constantly. Value is based upon supply and demand. Unlike many investments that may fall in value but typically regain value over time, crypto is less stable. A purchase of $1000 could fall to a value of $100 in minutes. Conversely, it could rise to a value of $10,000 in minutes. But then it could change again – even while you are trying to cash out on your gain while up, it could result in a loss due to the value changing again before the transaction is complete.
How can you protect your banking customers from crypto fraud?
DaybreakTM for Financial Institutions was built specifically for mid-market banks and credit unions to get business outcomes using analytics. Daybreak can mine your transactional data to determine which of your customers has money leaving or entering your bank from a crypto currency company. This will give you an actionable list of customers for outreach and education on risks. If enriched with a listing of crypto companies known to be fraudulent, targeted outreach may be done by you to save your customers from fraud. Further, after explaining the risks of crypto and educating your customers, you may be able to offer an alternative investment opportunity to keep your customers safe and their dollars in your bank.
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Aunalytics, a leading data platform company delivering Insights-as-a-Service for enterprise businesses, will join the upcoming Missouri Bankers Association Annual Convention as a Gold Sponsor, July 13-16 in Branson, MO. Aunalytics will feature its Daybreak™ for Financial Services solution with advanced analytics that enable bankers to more effectively identify and deliver new services and solutions for their customers for greater competitive advantage.
What are Smart Features?
Machine learning is a leading component of today’s business landscape, but even many forward-looking business leaders in the mid-market have difficulty developing a strategy to leverage these cutting edge techniques for their business. At Aunalytics, our mission is to improve the lives and businesses of others through technology, and we believe that what many organizations need to succeed in today’s climate is access to machine learning technology to enhance the ability to make data driven-decisions from complex data sources.
Imagine having the ability to look at a particular customer and understand based on past data how that individual compares in terms of various factors driving that business relationship:
- Which of our products is this customer most likely to choose next?
- How likely is this customer to default or become past due on an invoice?
- What is churn likelihood for this customer?
- What is the probable lifetime value of this customer relationship?
Aunalytics’ Innovation Lab data scientists have combed through data from our clients in industries like financial services, healthcare, retail, and manufacturing and have developed proprietary machine learning techniques based on a solid understanding of the data commonly collected by businesses in these sectors.
A SHAP (Shapley Additive Explanations) value chart for a remarkably accurate loan default risk model we developed shows which features have the highest impact on risk prediction.
From this, we append insights gleaned from machine learning to data models. We add high value fields to customer records to reveal insights about a customer learned from our algorithms. Smart Features provide answers to pressing business questions to recommend next steps to take with a particular customer to deepen relationships, provide targeted land and expand sales strategies, provide targeted marketing campaigns for better customer experiences, and yield business outcomes.
Machine learning techniques enable more accurate models of risk, propensity, and customer churn because they represent a more complex model of the various factors that go into risk modeling. Our models deliver greater accuracy than simpler, statistical models because they understand the relationship between multiple indicators.
Smart Features are one way that Aunalytics provides value to our clients by lending our extensive data science expertise to client-specific questions. Through these machine learning enriched data points, clients can easily understand a particular customer or product by comparing it to other customers with similar data. Whether you want to know if a customer is likely to select a new product, their default risk, churn likelihood, or any other number of questions, our data scientists and business analysts are experienced and committed to answering these questions based on years of experience with businesses in your industry.
Where Can I Find an End-to-End Data Analytics Solution?
The data analytics landscape has exploded over the past decade with an ever-growing selection of products and services: literally thousands of tools exist to help business deploy and manage data lakes, ETL and ELT, machine learning, and business intelligence. With so many tools to piece together, how do business leaders find the best one or ones? How do you piece them together and use them to get business outcomes? The truth is that many tools are built for data scientists, data engineers and other users with technical expertise. With most tools, if you do not have a data science department, your company is at risk for buying technologies that your team does not have the expertise to use and maintain. This turns digital transformation into a cost center instead of sparking data driven revenue growth.
Image credit: Firstmark
https://venturebeat.com/2020/10/21/the-2020-data-and-ai-landscape/
Aunalytics’ side-by-side service model provides value that goes beyond most other tools and platforms on the market by providing a data platform with built-in data management and analytics, as well as access to human intelligence in data engineering, machine learning, and business analytics. While many companies offer one or two similar products, and many consulting firms can provide guidance in choosing and implementing tools, Aunalytics integrates all the tools and expertise in one end-to-end solution built for non-technical business users. The success of a digital transformation project should not be hitting implementation milestones. The success of a digital transformation project should be measured in business outcomes.
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