Category Archives: Banking Industry

Posts about the banking industry

New Release: Financial Industry Vertical Pack

Some text analytics scenarios need more than general purpose resources to get the results you need. If you are familiar with MeaningCloud, you’ll know that resource customization is one of our main features and great advantages. The parametrization available in the different analyses we offer enables you to adapt our tools to exactly the type of analysis you want. You can do this in two ways: using any of our predefined resources or creating your own with our customization consoles.

In this line, we are happy to announce that we have released a new vertical pack for the finance industry. This pack will allow you to analyze your financial contents and interpret them according to a standard vocabulary (FIBO™).

MeaningCloud release

Continue reading


Voice of the Customer in the banking industry

The Voice of the Customer (VoC) is a market research technique that produces a detailed set of customer wants and needs, organized into a hierarchical structure, and then prioritized in terms of relative importance and satisfaction with current alternatives.

Voice of the Customer (VoC)

The Voice of the Customer (VoC) is not a new concept. In one way or another, it’s been included in quality assurance processes for years, and yet, its full integration in the workflow is a pending tasks for many companies. The Voice of the Customer allows you to listen, interpret and react to what’s being said, and then monitor the impact your actions have over time.

The current challenge companies are facing comes from the volume of data available. In this digital age, feedback is ever-growing and not just limited to the periodic surveys sent to clients. Word-of-mouth has gone digital and has become more relevant than ever: everyone with a Twitter or a Facebook account has an opinion, and more often than not, it’s about the products and services they consume.

A typical client

A client

As so many other sectors, banking needs to figure out how to translate this first-hand source of knowledge their clients are providing into something useful, something that can be used in the company’s decision-making process.

Voice of the Customer combines two key aspects of information extraction: the need to know in detail what the customer is talking about and to interpret correctly his feelings about it. The former gives a quantitative view of the feedback obtained while the latter gives a more qualitative analysis, measuring what clients think a company is doing right or wrong.

The banking domain has the added difficulty of providing an extremely wide array of products and services, each one of them with very specific subcategories and received through completely different channels.

Continue reading