Financial service providers and fintech startups use data to spark innovations and mitigate risk.
Financial service providers collect enormous amounts of data from their customers. This data is analyzed and used in sophisticated models that drive business decisions. But this only tells them about their past or current customers' interactions. Financial service providers need relevant external data signals to provide them with more context on their current customers, and to better understand how prospects will impact their business.
Consolidating external data for analytics is resource and time consuming Explorium’s External Data Platform centralizes access to public, premium, and proprietary external data for business analysts, data scientists, and business leaders
Transforming, matching, and integrating external data is tedious work Explorium’s External Data Platform ML capabilities automatically match and integrate external data with your internal data accelerating time to value
Assessing the value of external data is inexact Explorium’s External Data Platform identifies the relevant external data signals and calculates the uplift in your ML models before deployment
The right external data is a competitive advantage.
Understanding the broader trends in the market and including them in predictive models improves their performance. Enrich your internal data with external data signals to gain better insights and improve business outcomes. Learn more
Refine customer lifetime value and churn analysis
Consumers have more options than ever when deciding on where to save and invest their money. Identifying profitable customers is critical - before they jump to a competitor. Redefine LTV and churn models by enriching your internal data with external data signals such as payment history compared to socioeconomic and income status, social activity, reviews of similar products, and income.
Enhance business credit risk assessments and boost profits
Lending decisions have gotten more complicated. Your internal data will only tell you part of the story. Risk models built around traditional financial records — bank statements and basic accounting documentation — don’t take into account external factors. Add external data sources to get a complete picture and mitigate risk while staying compliant.
Optimize marketing efforts through improved customer segmentation
Knowing who your best customers are and what services they’re more likely to need allows you to market more effectively to prospective customers. Send the right message at the right time to improve conversions. External data can enrich your internal information to better understand and target existing and new customers - both individuals and commercial businesses.
Explorium’s External Data Platform improves analytics and machine learning. Explorium enables organizations to automatically discover and use thousands of relevant data signals to improve predictions and ML model performance. Explorium’s External Data Platform empowers data scientists and analysts to acquire and integrate third-party data efficiently, cost-effectively and in compliance with regulations.
Information that is available from government records and other sources available to the general public.
We partner with established tier 1, 2, and 3 data aggregators and niche data providers to source premium data. Data aggregators provide raw and modeled data.
Data we acquire, process, and standardize to create derived data. Derived data can be used to enrich internal data and build new or existing ML models
Example data signals for Financial Services
Review based information:
Business rating and reviews
Average pricing of businesses in area
Number of sales
Growth and stability indicators
Number of businesses nearby by category
Foot traffic information: number of visits in the area, places people visited on the same day, etc.
Tourist attributes: hotels and attraction characteristics (number of hotel rooms in an area, etc.)
View our Data Gallery to see more examples and learn more.
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