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Here’s How Leveraging Client Information Can Help You Become The Banker of Choice

Innovation and a global approach

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When It Comes To CRM, User Adoption Is Always A Challenge. Here's How One Of Our Biggest Clients Pulled It Off

You may have the best possible CRM solution on the market, a deep vertical award-winning software geared to meet your every need. What you will always struggle with is poor user 

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Salesforce Customers Could Have Had A Better Week If They Had Picked A Private Cloud Solution

We saw the complaints online, read the messages on Twitter, checked out memes that circulated all weekend, and thought long and hard about the massive outage that affected a whole lot of Salesforce users. There were conflicting reports at first but, apparently, 

In: Insurance
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If You Get Data Migration Wrong, How Will You Get Your CRM Right?

Data migration involves a change in storage and database or application, which is what makes it a potentially complicated process. This is why we, at NexJ Systems, adopt industry best practices while managing migrations from legacy systems, using our extensive tooling and significant experience with client data encompassing a varying degree of size and scope.

In: Insurance
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Not Getting Results? Stop Using Wealth Management CRM For Corporate And Commercial Banking.

 “Vertical CRM will be the preferred CRM Choice in the next three years”1

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Do You Really Know Your Customers Or Is Your CRM Showing You Just The Tip Of The Iceberg?

Trying to tell corporate and investment bankers about the importance of understanding their customers is a lot like listing the benefits of butter to a pastry chef. They get it. They know it really, really well. And yet, considering we are in the business of Customer Relationship Management, I sometimes can't help but question what this means.

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Don’t use the same CRM they use for Hospitality! Use Financial Services CRM

 “VerticalCRM will be the preferred CRM Choice in the next three years”1

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Continuous Integration, Delivery, and Deployment: What’s The Difference?

What’s it all mean?

Continuous Integration lets lots of people work on one project at the same time, while merging their work together in a central place regularly. This maintains the most recent version, so everyone is checking in or out only the latest code.

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Vertical CRM: Because When Did One Size Ever Fit All?

Our CRM capabilities and features are targeted towards a specific set of users, job requirements, or departments within an organization.

How does NexJ do it?

In: Insurance
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For The Record, Continuous Deployment Can Lead To Continuous Benefits!

It makes perfect sense here too, because a Continuous Delivery Pipeline is nothing but a set of steps that code changes must go through to make their way to production. This Pipeline has four elements — Continuous Exploration (CE), Continuous Integration (CI), Continuous Deployment, and Release on Demand.

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NexJ’s Dynamic, Flexible, and Centralized Security Model

The increasing popularity of internet banking and mobile access are paired with increasing regulation and scrutiny. This means both more possibility for issues and more consequences when issues arise. NexJ enables firms to manage and protect information with a robust, centralized security model.

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The Language Around Cloud (And Other Things That Drive Solution Architects Crazy)

I am often reminded of a specific parable whenever someone drops the words 'cloud', 'private cloud', 'hybrid cloud' or 'SaaS'. It's the one about the blind men and an elephant, who describe the animal based on which part of its anatomy they feel, then come to blows because they assume the others are being dishonest. 

In: Insurance
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Invested Users: Best Practices of Maximizing User Adoption, Part 3

In my last blog [Invested Users: Best Practices of Maximizing User Adoption, Part 2], I discussed NexJ's second set of three best practices for user adoption, and why planning, partnering, and encouraging leadership are crucial steps in the process of engaging your users with your CRM.

In: Finance
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Invested Users: Best Practices of Maximizing User Adoption, Part 2

In my last blog, I discussed NexJ's first three best practices of user adoption, and why developing, analyzing, and aligning are crucial steps in the process of engaging your users with your CRM. Today, I'd like to discuss the next three of the 9 best practices for user adoption, which are planning, partnering, and encouraging.

In: Finance
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Invested Users: Best Practices of Maximizing User Adoption

In a previous blog, I discussed how to measure your user adoption rates, and the effectiveness of comparing quantitative and qualitative results. Because users can log into your CRM system, without actually using it, it's possible to have extremely high quantitative results without having high user adoption.

In: Finance
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Next Best Decision Models

Some of you may be familiar with Next Best Action in the context of Sales & Marketing, where the consideration is which offer is most appropriate for which customer at a point in time. Extending Next Best Action to customer service seems a natural progression, considering the service representative is already engaged with the customer, and presuming the interaction went well, means extending the dialog with an appropriate offer. 

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Disruption in Motion: Chief Data & Analytics Officer Financial Conference 2018

The customer experience, now more than ever, is the bar we use to predict the health and growth potential of a business. Most major financial institutions are taking this to heart by adapting their services to deliver the “delightful” customer experience we’ve come to expect as consumers (think Amazon, Netflix, and Uber.) I was reminded of the sea change that is moving our industry towards intelligent customer management while at the Chief Data Analytics Officers (CDAO) event in Boston last month. I contributed to a panel discussion about the emergence of machine learning in financial services, where I was joined by industry peers with first-hand experience transforming their business with data-driven insights. The efforts of fellow panelists and thought leaders, like José Murillo of Banorte, were on full display. Our lively exchange made clear that the disruptive forces of Artificial Intelligence (AI) and Machine Learning are here to stay.

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Recapping CDAO: Examining the Transformation of Risk Management

Last week's CDAO presentation on Single-Family Data Governance & Management by Freddie Mac illustrated how traditional back office activities are aligning and impacting front office processes.  We continue our recap of lessons learned at CDAO with this week's focus on risk management. This April, we were delighted to attend as well as participate in the Financial Services-focused Chief Data & Analytics Officer conference in Boston.  This annual gathering brought together senior-level data practitioners in financial services to share their latest innovations, best practices, challenges and use cases.  The concept of monetizing or commercializing data assets is revolutionizing the Financial Services industry by using governed data strategies partnered with business initiatives to realize data-driven transformation benefits.

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Data Governance at CDAO Financial Services Conference Boston

This April, we were delighted to attend as well as participate in the Financial Services-focused Chief Data & Analytics Officer conference in Boston. This annual gathering brought together senior-level data practitioners in financial services to share their latest innovations, best practices, challenges and use cases.

In: Finance
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Experts in Our Field: NexJ Recognized as Leaders in Nucleus Research Value Matrix

Our hard work continues to get noticed as Nucleus Research, a global research and advisory firm, has once again recognized us as an Expert in their most recent CRM Value Matrix.

In: Finance
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AI in Financial Services: Work Faster, Better, and Smarter Today.

It’s interesting that artificial intelligence is such a hot topic these days because AI itself is not new. The concept of an ‘artificial brain’ was discussed by scientists in the 1930s. In 1950, Alan Turing created the Turing Test to distinguish machines from ‘thinking’ machines.

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Intelligent Customer Management – The Untapped Value of AI in Wealth Management.

It’s been astonishing to see the amount of media attention around Artificial Intelligence (AI) in recent months. From the dystopia of HBO’s Westworld to the hype of Salesforce's Einstein, we’ve been inundated with larger than life claims about AI and its abilities. 

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Operationalize Business Results with Semantic Modelling

The flexibility and cost effectiveness of Apache Hadoop was quickly recognized by many organizations as an effective delivery vehicle to empower business users with operational self-service query and analytic capabilities.  Many organizations established, or are presently establishing, data lakes for operational intelligence query and analytics capabilities for the field personnel who need them most, best understand the data, and are the most capable of actioning insights gleaned. 

In: Finance
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Beyond Sales Force Automation

Clients choose NexJ because they are looking for a highly integrated solution as a strategic investment in their business. Their primary goals typically include improving the customer experience and driving cross-sell and upsell. To accomplish these goals, commercial and corporate banks are looking for an integrated banker experience that uses an enterprise view of the customer to drive cross-system workflows and enable bankers to collaborate across channels, regions, and lines of business. 

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Data Lake Query Quality

Many organizations established, or are presently establishing data lakes as a cost effective means of provisioning operational intelligence query and analytics capabilities directly to the field personnel who need them the most, understand the data the best, and are the most capable of actioning insights gleaned.  Sounds like an ideal arrangement.  

In: Insurance
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Deciphering Vendor Speak, Part 3: ‘Increase Productivity’

Who doesn’t want their team to work faster? And not just faster, but better as well? It’s what we all want. That’s why ‘increasing productivity’ is a key driver behind many front-office system upgrades. It’s also the reason so many vendors promise productivity improvements. So how do you sort out the empty promises from the legitimate? 

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AI, Chatbots, and Intelligent Customer Management : Video Primers

Interested in AI, Intelligent Customer Management, or Chatbots, but having a hard time unpacking what they all mean? Adam Edmonds, VP of Products at NexJ Systems, explains everything you need to know in this series of short videos.
 

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Quantitative or Qualitative - What Are Your User Adoption Results?

High user adoption rates reflect that your company's software investments are being appropriately leveraged, and ideally show that users are engaging with the system. To determine the effectiveness of the software at your company, you need to know your user adoption rates.

In: Insurance
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Querying the Data Lake

The Apache Open Source contributions to Hadoop are numerous and cover a broad portion of a reference architecture. It has been some time since we considered foundational low cost storage and in-place query capabilities. And as we saw in the "Data Lakes" blog posting, many organizations utilized this foundational offering.

In: Insurance
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Deciphering Vendor Speak, Part 2: ‘Improve the Customer Experience’

Vendors have a similar language when it comes to describing the benefits of their solutions but that doesn’t mean you’ll get the same results with every solution. Whether you’re looking for CRM, customer engagement, business process management, or a customer insights platform, it’s worth your while to ask each vendor how their solutions deliver on their promises.

In: Insurance
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Intelligent Customer Management in Commercial and Corporate Banking

In my previous blog, we discussed how Intelligent Customer Management applies to Wealth Management and Private Banking. This blog will do the same but for Commercial and Corporate Banking. If you read my previous blog, you’ll find the description of the mechanics familiar, even though the examples are tailored to Business Banking. 

In: Finance
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Intelligent Customer Management in Wealth Management

The power of AI at scale

In my previous blog, I introduced the concept of Intelligent Customer Management that we discussed at NexJ Client Day. Many of our Wealth Management and Private Banking customers were eager to discuss how it could explicitly apply to them. 

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Deciphering Vendor Speak, Part 1: ‘Better Understand Customers’

Whether you’re shopping for customer relationship management, customer engagement, business process management, or a customer insights platform, you’re bound to come across similar vendor promises. “We’ll help you better understand customers. Improve the customer experience. Increase productivity.”

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NexJ CDAi at Neo4j GraphConnect New York 2017

This year, we were invited by Neo4j, one of our key development partners, to attend GraphConnect, their annual global gathering. This was the first year Neo4J held GraphConnect in New York, so NexJ was especially grateful to not only participate in this inaugural event, but to be one of the partner exhibitors as well. The gathering extended the reach of Neo4j, offering something for everyone, including developers, data scientists, big data architects, and business analysts looking to reveal new connections in their analysis.

In: Insurance
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Intelligent Customer Management

In early November, we welcomed our clients to Toronto for NexJ Client Day. Clients got together to share ideas and discuss the future of Customer Relationship Management (CRM) within financial services. The theme of the day was Intelligent Customer Management.

In: Finance
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It’s All About the Customer

I know, I know… I’m always talking about how it’s the age of the customer and how everything revolves around the customer. Guess what? I don’t just talk about it, I live by it too. Last week, it was my privilege to host our 2017 Client Day here in Toronto. We were joined by senior business and IT leaders from many of our customers from across the globe, across the country, and down the street. 

In: Insurance
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Omni-channel to Omni-digital: The New Normal

PwC's 2017 Digital Banking Consumer Survey summary, "(Don't) take it to the bank: What customers want in the digital age," proposes a new segment of consumers they've called "omni-digital." They define omni-digital customers as those who "don't use physical channels like branches or call centers to interact with their financial institutions." 

In: Insurance
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Investing in Data Insights

In today's financial services and insurance markets, you have access to massive amounts of information from multiple sources about your customers. The Internet of Things has led to an exponential increase in data types and sources, and assembling that information into usable insights can provide powerful knowledge about your potential or existing customers. 

In: Insurance
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AI & Your Competitive Edge in a Changing Marketplace

In our last post, we looked at the Artificial Intelligence (AI) platforms that banks are using to drive their digital initiatives. Now, we come to the central question that banks are faced with: “We have a great brand. How do we grow revenue? And can we increase customer loyalty while doing it?”. 

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Looking Around - Seeing The Benefits of Our Approach To Enterprise Development

Sometimes when you step back you can really appreciate things that may have become routine. I did this recently with our enterprise-first development approach. As usual, we are busy adding capabilities to our products that will make our client’s solutions even more valuable and I’ve been almost too close to it. 

In: Insurance
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Will Your AI Strategy Deliver Revenue & Increase Share of Wallet?

As consumers, we use AI platforms every day. Google uses AI to auto-complete your searches. Amazon builds personalized product recommendations based on the things you’ve bought in the past. Did you enjoy House of Cards on Netflix? Give it a 4 star rating and AI will suggest similar content that you’re bound to enjoy.

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Digital Content Part III: Converting Social Posts

This is the third and final post in my series on Digital Content. In the first post, we discussed how your advisors can build a personalized professional brand using NexJ Digital Engagement and Artificial Intelligence. In the second post, we discussed using the same AI tools to deliver personalized touches to your existing clients.

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Why Banks are Using AI to Differentiate on Service

Today’s leading businesses have embraced technology to innovate and find an edge in our connected marketplace. It’s the Age of the Customer, and your customers have more options than ever before to access the financial services they need. 

In: Finance
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CRM Adoption Starts with Integration

For a person to use something, they almost always have to believe they have something to gain. For a CRM system, that means that a person should get more information out than they put in. After all, if all you have access to is the information you entered, what’s the point?

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Artificial Intelligence (AI) in CRM: It’s not Skynet. Yet.

Artificial Intelligence is everywhere all of a sudden. It’s on our phones, in our homes (I’m looking at you, Alexa) and peppered throughout our online experiences. It’s the hot topic from the water cooler to analysts to the media to the major industry players. (I think we all know where Elon Musk and Mark Zuckerberg stand on AI by now.)

In: Finance
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Digital Content Part II: Customer Engagement

In my previous blog, I discussed the importance of using content to create a personal brand on social media. To recap, NexJ Digital Engagement uses Artificial Intelligence to match articles from public news and internal sources to a profile that is unique to each financial advisor or banker. 

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Sunsetting an Obsolete System

So when a system stops receiving support or development, it affects the health of the entire company. It can become expensive to maintain, difficult to upgrade, or so obsolete it risks pulling the company behind the competition. When people can't or aren't using the system, or when the system isn't able to provide the functionality that's needed, the organization must replace it.

In: Insurance
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Digital Content Part I: Creating a Strong, Unique Personal Brand

Digital brands are important. In the digital age, customers do research on their financial decisions before they even contact the bank. They Google, talk to friends and colleagues on social networks, and look at the websites for both the institutions and the advisors themselves. When it comes to financial decisions, they are looking for someone they can trust and who will be a partner, not just a vendor. Your institution and your bankers themselves must communicate a unique perspective that makes them stand out from the crowd before the client reaches out directly.

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Hadoop Data Lake

In this blog series, we’ll explore the concepts that make up the Semantic Data Lake. We’ll begin with an introduction to Hadoop – what is it and why was it developed? Techniques traditionally applied when mastering complicated organizational reference data such as customers often require centralization to enforce standardization. 

In: Insurance
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Beyond the Brochure - Why Project Success Begins with the Proof of Concept

You’ve seen the demo and read the brochure. You’ve read a dozen RFP responses, and expertly managed conflicting requirements and competing stakeholder expectations. You’ve short-listed the vendors, and authored a business case that you can be proud of. 

In: Insurance
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AI and the Rise of the Bots

It’s still a little hard to get used to. For a number of years this would be the week I would make my way to the Big Apple, the financial services mecca of North America, to attend #CRMEvolution. The event used to take place in a hotel right in Times Square. There was always a flurry of activity all around.

In: Insurance
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