Knowing Your Customer: What's Holding You Back From Greatness?

12/10/23 • 33 min

Data advancements have the potential to improve how well you know your customer and drive outstanding customer experiences and personalised services. With regulatory evolution, including the new Consumer Duty, and intense market competition, the right approach could unlock growth and be a unique selling point.

In this session, recorded at the TransUnion Summit 2023, Sam Welch (Commercial Banking Director, TransUnion) asks industry leaders from different sectors: How big is the gap between potential and reality, and what more can be done to get to know customers better?

Sam poses a set of questions on key topics to our panel of financial services SMEs, and elicits authentic insights on key challenges around an effective data strategy, how to design an advance customer experience and changing consumer attitudes and economic behaviour.

Panel chair:

Sam Welch, Commercial Banking Director, TransUnion

Panel:

Ranil Boteju is Chief Data & Analytics Officer, Lloyds Banking Group
Desmond McNamara, CRO, Zilch
Darren Kelk, MD, Ascendant Solutions
Stuart Daniels, Chief Credit Officer, FGH

Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide on new use cases for Open Banking and an overview on how TransUnion and Bud are building the next generation of Open Banking solutions. To get your copy, head over to our landing page.

Panel chair:

Sam Welch, Commercial Banking Director, TransUnion

Panel:

Ranil Boteju is Chief Data & Analytics Officer, Lloyds Banking Group
Desmond McNamara, CRO, Zilch
Darren Kelk, MD, Ascendant Solutions
Stuart Daniels, Chief Credit Officer, FGH

Previous Episode

A Modern Identity Crisis: How The Digital Age Blurs The Lines Between Trust, Risk and Authenticity

With bad actors using sophisticated technology and PII they’ve amassed online, establishing trust and detecting risk is increasingly challenging. This episode, clipped from our panel discussion, 'A Modern Identity Crisis: How The Digital Age Blurs The Lines Between Trust, Risk and Authenticity' (at the TransUnion FUTURE Summit 2023) takes a deep dive into the latest fraud trends.

The panel was chaired by Chad Reimers, GM: Fraud and Identity Solutions, TransUnion UK, and featured:

Harriet Sloan, Head of UK Fraud and Identity Consulting and Analytics, TransUnion
Glyn Cowlishaw, Head of UK Fraud and Identity Pre-Sales, TransUnion
Devon Smith, Director of Strategic Growth, NeuroID

Topics include emerging fincrime and cybercrime threats, such as no intent to pay, money mules, organised 3rd party fraud and targeted online attacks, and how consumer attitudes towards online crime are evolving. The panellists share the patterns they're seeing emerge across sectors and outline forward-thinking strategies that can help improve performance and enable businesses and consumers transact with confidence.

For more information on how TransUnion's TruValidate solution can help your business better detect and identify fraudulant activity visit our solution and product pages.

Next Episode

Masterclass: Leveraging Credit Education to Strengthen Customer Loyalty, Trust and Engagement

Curious about the potential of credit education and monitoring tools to deliver richer, mutually beneficial relationships for consumers and financial service providers? This timely episode (recorded at the FUTURE Summit 2023) can help you get a better understanding of how the credit monitoring tools and features, a familiar characteristic of modern digital financial platforms, can engage and educate customers to make better credit decisions and build loyalty and trust.

In this podcast you'll hear from James Robinson, Managing Director of Consumer Interactive at TransUnion UK and Alex Cook, Product Manager at NewDay.

James and Alex share their stories and insights on why they embrace credit education and the important role it plays in supporting consumer financial well-being. Topics covered include:

The need to help consumers better understand their credit status and tools that can help improve improve their financial confidence
NewDay's evolving journey with credit education
The future of credit monitoring tools and next-generation lending experiences

Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide to our award-winning CreditView solution that's helping brands build next-gen financial services platforms. To get your copy** [head over to our landing page]**(https://www.transunion.co.uk/lp/creditview-ebook)