Banking on Data

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Very few people seem to express warm, fuzzy feelings about banks. In fact, they are more  20 point drop in public trust in 2018. 

likely to have cold, prickly feelings about them. Financial services institutions suffered a

So what can banks do to try to attract and retain loyalty? Aside from asking banking customers directly, how would banks find out what people really think of what they’re doing? They could tap into social data. That’s what Crimson Hexagon did with in a report that compares two bank brands: BNP Paribas and Santander. 

The report is based on an exploration of five years’ worth of online conversations related to these two large bank brands.  Data was culled from “Twitter, Facebook, Reddit, blogs and forums – a wide range of locations where consumers gather to discuss various topics.” 

Read more in 

Data You Can Bank On

The trust factor for IoT

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We talk a lot about IoT, referring of course, to the Internet of Things. But perhaps we should be thinking of making the T stand for trust. That’s what some are working on now in establishing industry standards to be worth of trust by committing to adopt best practices.

Essentially the OTA's best practices and standards boil down to two overarching considerations. One: Device manufacturers have to consider how they will secure the data collected on their devices. Two: The consumer has to be clearly informed about the nature and extent of the data collected. Having that information allows the potential purchaser to know exactly what they would be getting into with the Internet of Things (IoT) device, and whether or not they consider the gains are worth the risk. Having a universal standard also makes it clear how one company compares to another with respect to data privacy and security.

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Setting the IoT Standards

Predictive analytics for relationships

That's at the heart of Dr. John Gottman's approach, which he expands on in his latest book, What Makes Love Last? How to Build Trust and Avoid Betrayal. I wrote about that book  here.

I've written about his earlier work in several posts:

The ultimate marriage manual

 and the 4 part Marriage success between two earthlings