Making the application process easy, is critical. Paper processes are a thing of the past and designing a customer orientated strategy that has longevity and growth opportunities should be the core objective of organisations moving forward.
Hi I am Alice Pinch and welcome to Experian. Today I am here with Paul Russell, Director in Analytical Solutions.
Alice: So Paul can organisations manage customer expectation through Data Analytics.
Paul: Absolutely. If you think about the digital journey, and we have all been there sat at our PC’s at midnight trying to process a credit card application and at some point in the process we hit a question that we can’t answer off the top of our head, so it is off to the filing cabinet, digging out the utility bills and that is a real pain. So we have been doing a lot of work around Experian to bring together our data and our analytics to be able to answer those questions on the customers behalf certainty so we can make a prediction as to whether or not it really is ‘Paul Russell’ at the end of the internet connection. How likely is he to be a fraudster and then we can smooth the journey because we can, with certainty, answer those questions for the customer.
Alice: So do you think paper processes are becoming obsolete.
Paul: Oh absolutely, we and our clients are doing lots of work to try and remove the need for paper in those processes. It is easy to falsify those documents and data and analytics gives a much more reliable and robust way of checking the important questions that need to be answered on the customers journey from ‘desire to have a product’ to actually getting the product.
Alice: Thank you.