Thursday Jun 26, 2014

Location Based Offers for Banking

The growth of smart phone adoption and its implications on banking is certainly the most significant trend in banking today. Mobile payment start-ups, like Square, LevelUp, and Dwolla, are introducing new services that offer alternatives to the traditional bank/merchant credit/debit card model. Google, Facebook and Apple all want to be your trusted credential holder and “mobile wallet”, threatening the bank-centric model. Banks have a big advantage here; they have detailed information about customers’ buying habits and banks are more trusted to secure private customer information. Banks have a big opportunity to capitalize on this trend and leverage their advantages as end-to-end payment providers. One example is to leverage their mobile applications and card services capabilities to include location-based offers and mobile wallet mechanisms. Banks are uniquely positioned to provide a complete, end-to-end offer presentment and payment solution that is both more personalized to the needs of the consumer and tied to the existing merchant and payment ecosystems banks dominate today.

Showcase Description
This demonstration showcases Oracle and NGData’s solution for analysis of customer data, merchant-provided offers, geolocation and consumer data to make real time offers. This solution demonstrates how big data can be used in real time to assess and respond to a variety of conditions about an individual, select the best available offer at their current location, and deliver that offers to a smart phone application.
At our SOA Community Workspace ( SOA Community membership required) you can get:
Location-Based Offers for Banking Technology overview.pdf
Turning Big Data into More Effective Customer Experiences.pptx

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