J. Kreisler and STRANDS launch Behavioral Economics eBook

J. Kreisler and STRANDS launch Behavioral Economics eBook

PRESS RELEASE

 

STRANDS and Jeff Kreisler, Editor-In-Chief of PeopleScience and co-author of Dollars and Sense (with behavioral economist Dan Ariely), joined forces to explore how banks can use Behavioral Economics to win over customers and what real, relevant, banking looks like.

Banks can’t predict user behavior with absolute certainty, but they can help frame their financial decisions by understanding how choices are made, and designing solutions around them. This is where Behavioral Economics, the study of how and why we make decisions, can be a powerful tool for the banking industry.

 

Behavioral Economics: The Bank’s Secret Weapon

 

The purpose of the eBook is to:

  • Identify why banks should care about Behavioral Economics and how they can improve the relationship with their users.
  • Pinpoint the skills shaping the Chief Behavioral Officer and how this role can lead the practices of behavioral science in line with business objectives.
  • Show an overview of some financial industry players that are creating experiences that move users in the right direction.

STRANDS believes that it is possible to help customers make better banking decisions, because in the future, banks will have an entirely different relationship with their customer.

That relationship will be based upon an understanding of who their customers really are and why they do what they really do, i.e. based upon behavioral economics. — Jeff Kreisler

The “Behavioral Economics: The Bank’s Secret Weapon” is available online now. To download it, click here.

 

About Jeff Kreisler

 

Editor-In-Chief of PeopleScience.com, a content platform leading the conversation about how to apply behavioral principles to the modern marketplace.

Co-author of ‘Dollars & Sense’ with behavioral economist Dan Ariely, he has an in-depth knowledge on the role of behavioral science and how banks and financial institutions can harness its potential to better effect.

A Princeton educated lawyer turned award-winning comedian, author, speaker, TV pundit, speechwriter and advocate for behavioral economics, Jeff has collaborated with STRANDS to take the study of human nature and its effect on finance to the banking sector, to drive change where it counts.

Peoplescience.com | Jeffkreisler.com/moneybook.html

 

About STRANDS

 

STRANDS is the FinTech partner for banks, serving more than 600 bank implementations with over 100 million customers in 36 countries. Clients include Barclays, BBVA, Santander, Commercial Bank of Africa, Deutsche Bank, and Huntington, among others.

STRANDS is a FinTech pioneer with the award-winning solution for Personal Financial Management (PFM) launched in 2008 in the United States and Europe. STRANDS Finance Suite today includes a portfolio of products that share a common foundation based on Big Data Processing, Artificial Intelligence, Machine Learning, Open API and best-in-class Customer Experience.

The company’s mission is to enable banks and merchants to anticipate customer needs and proactively suggest next-best-actions to increase long-term customer value. STRANDS solutions empower people to better manage their financial and consumption life, and take decisions in a smarter, more transparent and independent way.

 

Davivienda and STRANDS: Pioneers of PFM in Colombia

Davivienda and STRANDS: Pioneers of PFM in Colombia

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 Davivienda is committed to offering more transparency to its customers with personalized digital banking that provides a clearer vision and management of finances.

 STRANDS, the FinTech partner for banks, develops the Personal Finance Management (PFM) solution that integrates personalized digital banking functionalities, to give users a comprehensive perspective of their finances.

Bogotá, June 13th, 2018. Davivienda stands out as the most innovative and progressive bank in Colombia, being the first financial institution in the country to launch a more personalized and contextual digital banking offer with STRANDS Personal Finance Management (PFM).

As a fundamental part of its strategic vision to innovate in digital platforms, Davivienda found in STRANDS the ideal FinTech partner to incorporate this solution and thus, add value to its wide portfolio of products.

STRANDS was the clear choice of Davivienda, offering the possibility of integrating its solution with existing systems, complementing its current offer in a homogeneous way through custom-made functionalities, in accordance with its corporate image.

To fulfill the commitment to provide the best service to its customers, Davivienda offers training to both its employees and its users, to facilitate the adoption process and the overall experience.

“The feedback we have received has been very positive. Our clients appreciate the possibility of having a more complete vision of their finances, knowing what they spend and being able to organize more for the future,” said Hair Muñoz, director of Mobility and Digital Channels of Davivienda.

“From the beginning, we have had very good coordination with STRANDS. Its professionals have resolved our concerns in a very efficient way and their vision has perfectly fit with ours, which has resulted in a superior result, “said Margarita Henao, vice president of Personal Banking Products at Davivienda.

“Davivienda is one of the most innovative banks we know in Latin America. We are proud to collaborate with them in their digital initiatives. The implementation process of STRANDS has been successful thanks to the easy collaboration and teamwork together with multiple areas of the bank,” said Leandro Gimeno, Global Head of Sales of STRANDS.

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