Cashflow Forecasting
Cashflow forecasting is a powerful tool to help financial institutions and their customers understand and predict cashflow throughout the current and upcoming months — arming them with the data-driven insights needed to maximise deposits, savings and ROI.
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Ways to help your customers
Accelerate data-driven cashflow analytics
Accurate projections help customers make informed decisions about their spending and savings. By using sophisticated models that analyse historical data, financial institutions can predict future cashflow scenarios with remarkable precision
Proactively mitigate overdraft usage
By understanding expected account balances, customers can avoid the pitfalls of overspending and ensure they have sufficient funds to cover upcoming expenses. This proactive insight can help minimise the stress of living pay-check to pay-check for customers and drive deposits for institutions.
Encourage more informed decision-making
With the power to accurately forecast a customer's income and expenditure, you’ll be able to capitalise on both cross and up-sell opportunities and design innovative solutions that truly resonate with your customers. This foresight helps customers manage their finances in a way that increases their disposable income and their ability to afford essential services and products.
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Tangible ROI and benefits
By using sophisticated models to forecast and analyse predicted spending, Cashflow forecasting opens up limitless opportunities to drive tangible ROI, maximise revenue and improve customer satisfaction, engagement and retention.
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Optimise affordability decisioning
With a detailed understanding of a customer's incoming and outgoing cash flows, banks can make more informed decisions regarding the creditworthiness of an individual - reducing risk and accelerating decisioning.
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Maximise overall deposits
When customers have a clear view of their cashflow, they're more likely to deposit excess funds instead of spending them, leading to an increase in overall deposits and meaning you’ll be able to capitalise on both cross and up-sell opportunities.
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Minimise overdraft usage
By encouraging customers to remain in the black by minimising overdraft usage, financial institutions can improve financial stability across their customer base but also radically improve customer satisfaction too.