Whatever bank or company operates the mobile-money system will be able to leverage the data for its own purposes (with the right partner, a bank, for example, could offer consumers discounts on a vacation to a favorite destination in addition to offering a savings account to let consumers hoard money for the trip).
Car lease or loan (at a car dealership or when purchasing a car) 3.
Credit card (potentially at a mall, or getting ready for a trip overseas) 4.
The myth that customers require a branch to buy a mortgage is just that, a myth.
It is more than likely that the majority of mortgages sold today were actually selected by the customer online, and the branch was just a step in the application process.
Some banks probably imagine that they do this already, but most of them certainly don’t use that data effectively to sell or match offers to individual customers.
Under the umbrella of big analytics, context analytics denotes the incremental context accumulators that can detect like and related entities cross large, sparse, and disparate collections of data.
Say a customer has previously used his credit card to shop at Myer’s.
A bank might pitch him a discount on his next purchase at David Jones instead.
However, matching this to previous card usage data or to purchases such as an airline ticket for future travel makes the pool of data available from within a bank highly sought after. Cardlytics essentially provides an offer-matching capability and mines card data on an aggregated basis to match merchant codes with offers that might be of interest to the bank customer. Here are some examples of the context of core retail banking products: 1.