In an age where even scientific discoveries are turning out to be unreliable, scientists, of course state that these are “self correcting” and therefore in the long run, the truth shall prevail, businesses have something to worry about, mainly so because they need to take quick decisions based on the information they have available today
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1. Offer to downgrade: Banks can bombard the best customers with offers to downgrade their status. For example, they can get the relationship manager to call the platinum card holder and offer her to issue a silver credit card. 2. Cross sell irrelevant products: Its relatively easy doing this. Run the algorithm on a customer relationship and
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The thing with every silver lining is that it has a cloud attached to it. In the last few decades, banks have taken giant strides in the use of automation. The electronic channel became – and possibly still is – the poster child of banking technology. Starting with the ATM, banks have used online channels,
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