Even if credit histories and customerprofiles became available overnight, many bank managers would not know what to do with this information, says Mr Hedrick-Wong.
Believe it or not, banks are working to figure out how to store and mine videos, images, news and social media data to draw out accurate customerprofiles.
Know Your Customer: Knowing our customers and their financial profiles is a critical first step in assessing our relationships with current and potential clients.
Individual customers and companies became anonymized into aggregate profiles and scenarios, rather than enabling employees to collaborate on specific issues of each customer.