Category Archives: CFPB

Leverage social media complaints to improve customer experience

Today’s strategic business agenda needs to center on customer experience. A core part of that is paying close attention to customer needs and resolving problems quickly – and social media plays a key role. By leveraging vast amounts of customer feedback on social networks like Twitter and Facebook, companies can gain insight into how to

Read More

A multi-million dollar growth spurt as the CFPB turns 3

Last week, the Consumer Financial Protection Bureau (CFPB) turned 3 years old.  When the CFPB launched in July 2011, it wasn’t clear what power this regulatory progeny of the Dodd Frank Act would wield.  Today, there is no doubt about the agency’s authority.  With 9 products in its ever-increasing purview, the CFPB now hosts over

Read More

Leveraging Predictive Analytics to improve customer experience – PAW Chicago

Event: Predictive Analytics World, Chicago 2014 Presentation:  “Leveraging Predictive Analytics and Alternative Data Sources to Improve the Customer Experience” Case Studies: CFPB, Capital One, Citibank, Bank of America Speaker: Steven Ramirez, CEO, Beyond the Arc     Date:  Tuesday, June 17, 2014, 3:05 – 3:25 p.m. Eastern Time Register online > Using customer feedback to drive decisions is nothing

Read More

2013: A busy year for the CFPB, an expensive year for banks

Since its creation in 2011, the Consumer Financial Protection Bureau has been busy establishing its jurisdiction and authority over financial services providers. In 2013, the agency continued to expand its impact, assessing almost $2.8 billion in fines and restitution. It continued to step up its oversight as well, with initiatives in two new areas –

Read More

Use text analytics to improve customer experience

While organizations have historically used customer feedback to make business decisions, the location and depth of customer data has drastically shifted in recent years. As social media adoption continues to increase, consumers are turning to outlets, such as Facebook, Twitter, forums, and blogs, to share positive and negative experiences about brands. Given the high level

Read More

Leveraging regulatory data to improve customer experience

We’re in the “Age of the Customer” –which means increasing challenges to meet evolving consumer demands, resolve problems rapidly, and comply with a changing regulatory environment. Customer experience is more important than ever to compete effectively and win business. In a recent article published by DataInformed, Beyond the Arc CEO Steven Ramirez highlighted how companies

Read More

Mining the CFPB Complaint Database to Improve Your Customer Experience

Analytics Update Sallie Mae learns a hard lesson in the importance of data analytics. If they had been paying attention, they could have seen all their customer experience problems coming. In August 2013, Richard Cordray, head of the CFPB, announced that the agency was turning its gaze toward student loans.  So it was no surprise

Read More

Leveraging customer feedback to drive business success

Event: Predictive Analytics World, Chicago 2014 Presentation:  “Open Your Eyes and Ears: Leveraging Predictive Analytics and Alternative Data Sources to Improve the Customer Experience Speaker:  Steven Ramirez, CEO, Beyond the Arc, Inc. Date: Tuesday, June 17, 3:05 – 3:25 p.m. Register online > In today’s competitive market, the name of the game is customer experience,

Read More

Customer Experience analytics: A costly but avoidable lesson for Sallie Mae

Sallie Mae, the leading student loan provider, recently announced it expects to spend $70 million to address issues raised by government and regulatory agencies about its lending practices.  Based on our ongoing analysis of the Consumer Financial Protection Bureau (CFPB) complaint database, this expense came as no surprise to Beyond the Arc. Sallie Mae could

Read More