By Ken Kraetzer
FinTech is being talked about in financial services marketing as a breakthrough.
But is FinTech entirely new or rather is it a new technology applied to age old challenges of analyzing markets, attracting new customers and measuring results?
We talked with Charles Gaddy of Irvine, California-based, Melissa Data at the recent Target Marketing Dinner and Financial Services Roundtable in New York City.
Gaddy described FinServ or Fintech as “A base of technology that has evolved over time," that can be useful for branch automation, customer acquisition campaigns, loan origination and compliance records.
A challenge is that digital media creates so much available data that financial marketers can be, he says, “awash in data, The key is to turn that data into information." In addition to finding ways to filter data into useable information, determining the quality of that data is also vital.
“We look at data quality, that’s our wheelhouse, "Gaddy commented. "The need to make sure data is of right quality level is really important. For example, are addresses and do we have a master record layout are just some of the details we apply.",
Gaddy sees FinTech moving from simply marketing and loan origination to compliance.
See bellow to view the entire conversation with Charles Gaddy of Melissa Data: