To make decisions and operate in context, the bank must always collect and analyze past transactions and other historical data for relevant entities. However, the most impactful contextual data is often that indicates real-time conditions. For example, although it makes sense to direct a home loan opportunity on the basis of Customer Goal Setting, if the Assisted Online Advisory Service or Bank also take account of the current status of Property Purchase by the Customer, the decision by the Bank will be more-informed. As a result, the customer will be better-served and the bank’s business will benefit.
Event-sensitive context discovery provides the strategic advantage of real-time situational awareness.
According to “Gartner” Events will become more important in the Intelligent Digital Mesh. There are two types of models that drive events - Request driven and Event Driven. Gartner suggests that both these models are complementary as can be seen from the Figure shown below.
An Assisted Online Advisory Service is a very good example of an emerging new channel for growth for banks (and indeed other Financial Products). The implement of the Intelligent Mesh can have far reaching potential for growth.