Financial Institution Reinvention

23. October 2017.

By proactively managing data as an asset, banks can unlock the power of data and tools for risk management purposes by augmenting them with additional data and modeling to generate insights that can be used to acquire, cross sell to, and retain customers. Data in these kinds of organizations is used to understand how customers “feel,” as Ray Davis, chairman of $25 billion-assets Umpqua Bank, has observed, and ultimately to understand how they actually behave and buy. Under Davis, Umpqua recently established a subsidiary, Pivotus Ventures, which among other things has been acquiring talent to further expand its capabilities in data science and advanced analytics.

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