Companies and private individuals are currently facing a significant additional financial burden due to inflation and very high energy costs. 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 in 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 during the consultation. At the same time, changing financial situations are creating new customer needs that need to be recognised as sales impulses in good time.
Aleksandar Jeremic, Managing Director of fino digital, explains in a guest article on geldinstitute.de how banks and savings banks are using intelligent open banking modules to analyse available account transaction data to reduce their credit risk and meet changing customer needs.
“The transaction analysis saves customers time in compiling all the documents for a loan application and they receive an offer that is precisely tailored to their personal needs. In this way, data creates real added value for successful business development for both customers and advisors.”
Read the full article here.
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