Due to inflation and very high energy costs, companies and private individuals are currently having to contend with a significant additional financial burden. This also increases the credit risk for banks and savings banks. Nevertheless, financial institutions are required to generate business even in times of crisis. How can advisors address this dilemma already in their discussions with customers?
The answer is simple: Customers’ changing financial scope in the face of rising living costs must be known in order to assess default risks as early as the advisory meeting. At the same time, changing financial situations generate new customer needs that must be recognized in good time as sales impulses.
Aleksandar Jeremic, Managing Director of fino digital, explains in a guest article on geldinstitute.de how banks and savings banks can use intelligent open banking modules to analyze existing account transaction data to reduce their credit risk on the one hand and meet changing customer needs on the other.
“Transactional analysis saves customers time in compiling all the documents for a loan application and they receive an offer that is tailored precisely to their personal needs. In this way, data creates real added value for both customers and advisors for successful business development.”
Read the full article here.
