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NGData_Full-Color-Mobile
retail banking

Transforming Customer Engagement at a Multinational Bank with Real-Time Campaigns

Results
  • Increased click through rate on banners with a 3.5 uplift.
  • Increased conversions (credit card applications) through banners with a 2.5 uplift.
  • Reduced marketing pressure 24% on the addressed population.
  • Increased relevance of the offers made to the visitors.
  • Ability to distinguish new visitors, recurring prospects and customers.
  • Control of marketing pressure of each banner.
  • Web channel personalization capabilities.
  • Faster time to market for online campaigns.
  • Ongoing, continuous learning through building Customer DNA profiles for numerous use cases.

The bank operates a network of more than 1,200 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs over 80,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services. The bank’s retail data analytics team was looking for a platform to better engage, target and service their customers for several use cases, and to properly orchestrate the omnichannel (assisted and unassisted) discussion with their customers.

The bank wanted to achieve the following business goals: Improving customer engagement using real-time personalized communication (one-to-one marketing); Becoming a customer-centric organization; The ability to target customers with the most appropriate products and services based on the unique interests, behaviors, preferences propensities of each individual; To be able to respond in real-time to credit card transactions made, with the best gift recommendation for each customer or audience; To be able to run multiple campaigns in real time for a particular country.

In just the two weeks after deployment:

  • 372K Customer DNA profiles (customers and prospects) were built.
  • 106K more relevant, personalized banners were served to 30K customers.
  • Integration focused on all web properties and use cases to SMS channels had been identified.
  • Predictive churn and acquisition models were built, and interest modeling based on website visits were done within the NGDATA IEP.

 

Solution

The bank selected NGDATA and its IEP to collect and process 300+ real-time transactions per minute to build Customer DNA profiles that serve as the basis for this customer engagement initiative. The IEP allows real-time offers to the eligible customers when they perform any credit card transaction, and provides the perfect synchronization of the total customer base within the bank – to creating the list of eligible customers and to propose gifts according to the rules defined.

With NGDATA’s IEP, the bank was able to implement a next best action marketing program for each and every customer, using highly targeted and relevant website banners based on individual preferences and behaviors. By collecting, analyzing and acting upon real-time customer data, they could coordinate sales activities across channels for each customer, tailored to their individual needs.

The bank’s initial deployment of the IEP was in support of their internet banking banner display functionality. The first two phases of deployment were intended to support smart bannering based upon the IEP’s Customer DNA, beginning with the public (unauthenticated) website, followed by the private (authenticated) website. In addition to offers made through the website, mobile and tablet channels were also included in the second phase. All current and future deployments support a cross-channel next best offer system.

NGDATA’s IEP provides the bank an insights-driven, analytical solution that adapts an omnichannel customer experience as soon as the first interaction occurs. By tracking customer behavior in real time, across all digital touchpoints and leveraging machine learning techniques, context-dependent insights are pushed to the channels to guide the customer/prospect journey in a consistent, cross-channel fashion.

Prior to the implementation of the IEP, every visitor of the bank’s web properties were being presented with the same banner(s), no matter their customer makeup. With NGDATA’s IEP, visitors are now shown banners, in real-time, dependent on their individual interests, based on behavior, propensities, predictive analytics, wealth status, credit card transactions, product ownership, online engagements, banner feedback interactions, and a plethora of other data points. All behavior is tracked in order to continuously serve relevant banners at each visit. Very quickly after the initial project, the bank deployed the IEP into various other units of their locations across Asia-Pacific.

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