Micronotes has partnered with Experian to give community banks access to consumer credit data for marketing, that until now has been inaccessible because of cost and a lack of campaign execution technology. Access to the data, however, is only part of the problem. Most community bankers are wearing many hats and simply don’t have the resources to put the data to work to grow loans with current, much less prospective new customers.
Micronotes has reinvented the way community banks engage with their customers. Imagine the conversations you could have with your existing and new customers if you could combine all of your internal and third-party data, machine learning, to start digital conversations at scale without banker intervention. That’s what Micronotes enables you to do and the results speak for themselves:
- 7% increase in personal loan assets on the balance sheet within the first 40 days.
- 27 point increase in the average FICO score across the loan portfolio.
- 12X response rate compared to industry standards.
- 89% of loan applications were approved and over 90% were funded.
By leveraging big data beyond the walls of the bank, and an increasingly robust tech stack, Micronotes is enabling community banks to punch well above their asset class and deliver a customer experience that simply wasn’t possible until now.
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