Category: Customer Lifecycle Management

Ekata

Don’t Let Fraud be the “F” Word: 4 Ways to Bring Value to your Fraud Team

Profits are slim in eCommerce. Specialty, department, and discount stores see a 6% to 10% operating margin, whereas Amazon and similarly-structured companies operate with an average 1.3% margin*. The only way to improve margins is to raise prices or cut costs (or a combination of both). Since raising prices turns away customers, most retailers choose […]

6.21.2017

Ekata

The Good Borrowers Inside the Belt

Online lenders are not risk averse. With average default rates looming around 30%, they’re conditioned to accept a certain amount risk. However, the reward (in the form of high interest rates) makes the risk of potential default worth lenders’ while. The one risk lenders cannot tolerate is fraud. We know that roughly 1 in 3 […]

6.8.2017

Ekata

The Identity Credit Connection

For years in the U.S., the Social Security Number has been the gold standard in identifying and verifying the credit history of prospective customers. But as financial institutions look to reach new and untapped markets, the legacy SSN may give way to a modern and potentially more secure string of digits: the cellphone number. Consumer […]

4.21.2017

Ekata

Clear, Concise, Consistent – Client Support: Part 6 in a 6-Part Partner Series

Read Part 5 in the series: Marketing and Selling – Getting the Word Out and Joint Selling At Ekata, we follow the 80/20 rule and invest our time and energy accordingly – into our partners and clients. However, the time spent identifying, integrating with, and taking a partner model to market is just the beginning […]

2.16.2017

Ekata

A Hummer or a Hybrid? Identity Verification in Lead Generation and Origination in Online Lending and FinTech

How are you growing your online lending business? Is your lead gen program a Hummer getting 6 miles to the gallon? Or is it a hybrid Lexus SUV with equal clearance, greater comfort, and 26 mpg?  If yours is like dozens of our online lending customers’ businesses, you are spending out your ears on lead […]

2.7.2017

Ekata

Marketing and Selling – Getting the Word Out and Joint Selling: Part 5 in a 6 Part Partner Series

Read Part 4 in the series: The Key to a Successful Partner Integration is in the Details Any partnership built without a strategy of how to market and sell the joint solution will ultimately fail. Above all, the most important aspect of marketing and selling a joint solution is to fundamentally understand the market for which […]

1.19.2017

Ekata

Getting Down to Business: Part 3 in a 6 Part Partner Series

Read Part 2 in the series: How We Look for a Good Fit You have done your due diligence in qualifying a potential partnership, so now the next step is to put an agreement in place. This is the critical juncture where the framework is built to structure the partnership, including establishing the critical details […]

1.5.2017

Ekata

Newest Challenge for Lenders: "Loan-Stacking"

Have you ever heard the term “loan-stacking”? Admittedly, it’s a new term to me.  Recently, the topic of loan-stacking came up during a conversation with a Community Bank. We were discussing their onboarding and underwriting processes and the banker mentioned loan-stacking as a business challenge that has been particularly difficult to solve for, especially with […]

10.13.2016

Ekata

Rejecting Good Customers? Address Validation Helps

Customer Insult Rate The majority of merchants I work with are happy with their fraud rate. These merchants have strong, layered fraud prevention processes that help prevent fraudulent order approval. However, when I ask “What is your customer insult rate?” the answer is often in some form of “I don’t know.” To take a step […]

10.12.2016