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Monthly Interest

Digital Marketing Drives New Card Acquisition

In a recent survey of 5,000 consumers who had opened a new credit card in the past six months, digital marketing channels were shown to be central to consumer awareness of available products. The study, conducted by Kantar’s Lightspeed, found that half of those surveyed learned about their new cards from an online source, and almost 1 in 3 of those online sources were ads on social media platforms.

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Leveraging Mobile-Location Data for a Marketing Edge

In a world where more than three-quarters of U.S. residents own a smartphone, digital advertising is a no-brainer. In fact, spending on digital advertising by financial institutions is expected to exceed $12 billion by 2020. However, only about three in 10 marketers are taking advantage of mobile-related data, and only 6 percent of banks believe they excel at mapping and analyzing customer journeys.

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November 2017 – Monthly Interest

Banks use a variety of measures to make decisions on loan applications.  New research from Columbia Business School suggests that institutions should add a new measure – the text authored by applicants on loan applications to determine the likelihood of default.

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September 2017 – Monthly Interest

The Consumer Financial Protection Bureau says that nearly half of student loan borrowers leave school owing at least $20,000 – double the share of borrowers a decade ago. The CFPB also found that more borrowers are taking out student loans later in life, and fewer borrowers are paying down their student debt in five years.

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