Financial performance enhancement through data-driven Insights
As data becomes a privilege instead of a commodity, C-suit executives and operation teams look for methods to leverage it and make insightful decisions for improving their operational efficiencies, finances, and overall performance.
This white paper takes an example of credit card products and one of the key metrics, ‘Cost-to-income Ratio’, that measures operational efficiency. We discuss the levers available to banks and financial institutions like advanced data analytics, machine learning (ML), and decision sciences to gain insights about customer behavior and business operations and take proactive decisions to positively influence their performance metrics.
We will also cover the role of predictive analytics for institutions to stay competitive by leveraging near real-time information from their internal data sources and external sources, such as social media, market trends, news feeds, etc.
This white paper delves into:
Insights of ‘Cost-to-income Ratio
Customer Data Platform (CDP)
Nagarro's POV through a reference implementation
Recommendations for improving the cost-to-income ratio