Today In Data

Today In Data: Correctly Capturing The Moment Of Inspiration

The magic moment in commerce is when the customer sees it – and wants to buy it. The moment of inspiration when if that “buy button” is near enough at hand, the customer is going to convert. Sounds simple – but it’s not always easy to pull off. Inspiring a customer is not easy work to start with, and sometimes those charged with protecting consumer interests get a weirdly upside-down perspective on the issue – and they start giving consumers what they think they should want instead of what they actually do want. Sometimes it’s about inventing a new, more digital experience for customers to want. And sometimes it’s about knowing one’s customer base and integrating for the future to avoid the risk of being stuck in the past.

Data

$2.19 billion: Valuation attached to China’s Baby Tree platform after Alibaba’s investment.

$2 billion: The amount of deposits Canada’s first digital bank EQ has taken in since its founding in 2016.

$1 million: What a NYC taxi medallion cost in 2015. Today, they auction for around $175,000.

51 percent: Share of millennials who are more willing to purchase from brands that offer a strong mobile experience.

.25 percent: Share of Overstock.com’s sales that are actually done in bitcoin (or another cryptocurrency).

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Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.

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