FIS Unveils ‘Active Analytics’ Suite to Refine Product Marketing (Sept. 30, 2013)
Technology companies are continuing to focus on Big Data, specifically analyzing transaction data to help clients improve the profitability of their portfolios. The latest to do so is payments technology provider FIS, which recently unveiled the FIS Active Analytics suite to help clients create segmented marketing campaigns and merchant offers, and price products more effectively.
While maintaining customer anonymity, the solution uses transactional behavior and everyday spending patterns to devise real-time merchant offers and rewards programs. The solution also enables banks to model the effect of product price changes across multiple scenarios, to optimize profitability.
“The banking industry is undergoing a dramatic shift to a new customer interaction model powered in part by rich, actionable insights,” said Bob Legters, senior vice president, payment products, FIS. “The power of using data and predictive analytics to increase the effectiveness and personalization of marketing offers to consumers is clear,” he said. NASA Federal Credit Union is among the FIS clients using the new analytics suite, according to the announcement.
Early this year Jacksonville, Fla.-based FIS also beefed up its mobile banking capabilities, paying $120 million to acquire mFoundry, which helped Starbucks build its mobile payments operation.