Consumer banks have suffered the consequences of poor decision-making infrastructure, and even banks with no exposure to subprime mortgages are enduring losses.
Lines of business too often make critical decisions regarding consumers in isolation, ignoring data, analytics, and expertise readily available elsewhere in the bank.
Tightening credit policies in reaction to the economic crisis is shortsighted in that it does not fix problems underlying the decision management infrastructure.
Because the number and variety of decisions made daily in consumer banks is vast, banks must develop a decision management infrastructure that leverages all elements of decision making.
Shared services, particularly for data management, provides a model for improving decision management in banks.
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