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#2244913 - 10/31/20 03:01 AM Analyzing and Acting On Bank Data
Compliance516 Offline
Junior Member
Joined: Aug 2016
Posts: 44
Are there any prohibitions or considerations a bank should consider, either regulatory or legally, when analyzing account usage trends and other data in current customers' accounts, developing new products from this, and then marketing/making offers based on that data collected?

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#2244914 - 10/31/20 12:09 PM Re: Analyzing and Acting On Bank Data Compliance516
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 85,443
Galveston, TX
Why would you be in any way prohibited in using your own data? As long as when you make offers you don't cross a line such as fair lending, it just sounds like a good business and marketing practice. Sure beats the heck out of pulling a promotion out of a hat with no data behind it and saying - hey, let's try this..
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