CenterState Bank Selects Big Data Software Provider Emcien to Automate Data Analysis

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Financial Services Provider Selects Analytics Leader to Bring Competitive Advantages of Automated Data Analysis to Its 600 Partner Banks

What we’re seeing with Emcien is a paradigm shift where there is no longer wasted effort on manual analysis.

Emcien, a pioneer in automated data analysis software, announced today the acquisition of another customer, CenterState Bank, which is a correspondent bank for more than 600 small to mid-sized banks.

“As a bank, we are swimming in data, the problem is making it actionable,” says Chris Nichols, Chief Strategy Officer, CenterState Bank. “Emcien is not only reducing our processing time, but has increased the accuracy of our predictions with regard to both fit and power. This is allowing us to better separate signal from noise and use that signal to help our stakeholders faster.”

CenterState Bank will leverage Emcien’s technology to improve the operational success of their customers by leveraging data through automated analysis. Ultimately, this relationship will facilitate a customer-centric approach through data.

Using Emcien’s automated pattern discovery product suite, small and mid-sized banks will gain the analytical capabilities enjoyed by large financial institutions as community banks will be better able to:

  • Leverage credit data to detect default patterns among different customer segments and different project types
  • Use operational data to contain and manage Bank Secrecy Act risk
  • Automatically tailor offers, rates, and terms to match each customer
  • Analyze sentiment to identify service issues, customer complaints, and new opportunities for product offerings
  • Preempt churn by identifying and contacting the customers most likely to defect
  • Completely automate loyalty programs
  • Gain insights into and act on sentiment analysis, predictive analytics and emerging trend discovery, fraud analysis, service optimization and more.

“Financial institutions carry more valuable and actionable data than almost any other industry and one of the biggest factors driving profitability is gaining insight into that data,” says Radhika Subramanian, CEO, Emcien. “We are pleased to expand our product offerings within the financial sector and help banks grow through our partnership with CenterState Bank.”

“Banks hear about Big Data and they get overwhelmed,” said Nichols. “What we’re seeing with Emcien is a paradigm shift where there is no longer wasted effort on manual analysis.”

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Maria Stephens
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