CDP Solutions for Retail Banking

Achieve true 1-to-1 personalization in real-time across all your communication channels with our intelligent engagement platform for Retail Banking that goes beyond your standard CDP.

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  • Reducecost per acquisition
  • Increaseshare of wallet
  • Boostinvestment fee revenue
  • Top up firstin wallet percentage
  • ImproveNPS and CSAT

AT A GLANCE

The CDP to maximize the customer lifetime value (CLTV) of your banking customers

 

NGDATA’s Retail Banking Solution is designed to be customer-centric and maximizes profitability by allowing for 1-to-1 personalization in real-time. Our solution is more than a standard Customer Data Platform (CDP).

 

Leveraging on its real-time advanced customer analytics, the solution allows you as a retail bank to exceed customer expectations. Interact with your customers in real-time with the right message on the right channel, developing customer engagement and boosting customer retention.

SOLUTION OPPORTUNITY

A Customer Data Platform that creates value with every customer interaction

 

Our Retail Banking Solution helps banks offer the personal service customers received from their local community bank, positioning you as a trusted financial advisor throughout the entire customer lifecycle. Think of the following situations:
• Starting a banking relationship
• Managing day-to-day finances
• Optimizing debts
• Switching homes
• Preparing retirement

 

All these events are personal, as should be the interactions with your customers. Using your customer data effectively is absolutely essential during these times of turmoil: customers seeking investment advice need different messaging than people who have just been laid off.

Increasing engagement with a CDP to boost loyalty and revenue

 

Today your customers – especially millennials – have multiple bank accounts. Mobile devices and digitized processes make this a lot easier to manage. Great for the customer, but it makes it harder for retail banks to maintain the primary bank relationship. And banks take all kinds of measures to remain ‘top of wallet’ and to ‘win’ customers. In the US, retail banks hand out ‘bonus money’ when customers open a new account. But this only leads to opening more accounts …

 

No one wakes up in the morning all excited to take out a mortgage. They are thinking about a new home. You need more than the right product to win those customers over. You need ways to get them to select you as their primary bank ànd to retain them as customers. Make sure you can follow-up on their financial situation, their historical and current behavior and their preferences and affinities so you can interact with them on the spot with relevant content, insights, and product offers, no matter the touchpoint. And learn continuously from this. That is what drives long-term engagement with your customer and ultimately drives revenue.

WHY NGDATA

AI-powered self-service tools for the smart marketer

 

Our Retail Banking Solution lets you build and maintain customer relationships by delivering real-time, omnichannel, customer-centric 1-1 experiences, while complying with data privacy regulations (GDPR, CCPA). Our solution comes with a specific out-of-the-box (OOTB) retail banking DNA and starter campaigns, all available through an intuitive UI built for the business user.

 

Marketers can begin reshaping banking engagements right away, overcoming the challenge of starting with a blank slate. Next, you can decrease the time-to-value of new use cases with our Retail Banking Customer DNA, as this calculates typical markers used to build customer-centric campaigns more quickly.

 

Marketers can leverage the power of big data to build campaigns on top of unified customer insights from digital, transactional, CRM and third party data sources. This way, they can easily design real-time campaigns with great speed and agility.

BENEFITS

Improve KPIs across the board with our engagement solutions for financial services

Client onboarding

Drive customer acquisition and increase the CLTV in the initial stages of the customer life cycle by maximizing the product footprint and customer engagement.

Customer activation

Increase revenue from your customer’s portfolio and improve retention by smart campaigns that activate customers to utilize services linked to the products they acquired previously.

Cross-sell smarter

Improve up- and cross-selling revenue, conversion rates, and reduce sales costs. Anticipate customer intent through behavioral, propensity and journey analytics and respond with Next Best Actions and Offers.

Increase retention

By calculating churn scores in real-time and automatically delivering experiences aimed at turning the situation around, you can increase the retention rate.

Increase loyalty

Increase customer loyalty by delivering service and information-related experiences in order to improve the value for customers.

WHAT'S INCLUDED

A complete analytics and customer engagement solution for banking

Surpassing a CDP platform, our Hospitality Solution - validated by subject matter experts - has a comprehensive and sophisticated set of predefined metrics and models. These reduce the time to market for retail banks and lets them instantly engage with customers in a smarter way to obtain results sooner.

Our Retail Banking Solution provides a real-time Customer DNA: this is our IEP’s comprehensive customer profile that consists of a 360 view of each customer with attributes (metrics) and values that describe customers in a very detailed and comprehensive way. This contains omnichannel interaction data and banking-specific insights are designed to drive smart, connected, and immediate engagement. It shows, for instance, a customer’s cash withdrawal trend changes based on all registered individual withdrawals or interactions.

Our Retail Banking Solution delivers out-of-the-box campaigns that drive 1-1 interactions at the right time, on the right channel and in the right context that aim to acquire, cross-sell, activate and retain customers. Our OOTB solutions leverage our real-time Customer DNA built on top of 1st, 2nd, & 3rd party data. Through customer journey stages you further personalize that journey with curated experiences, and with our smart audiences, you can then enhance campaign targeting. Think of converting savers to investors with a “start to invest”-campaign based on their savings behavior.

We leverage our product’s built-in machine learning pipeline to generate propensity and churn models where necessary, thus reducing heavy data science work. Accessible through a user-friendly interface, the business user can expand and explore audiences, revealing untapped opportunities. You can easily select customers with a similar profile to the ones that recently activated a new credit card.

NGDATA’s Intelligent Engagement Platform is Certified as a RealCDP and meets all core CDP requirements and supports enhanced CDP capabilities and best practices.

David Raab

CDP Institute
OUR APPROACH

We’ve Done This Before

Our strategic and prescriptive approach to building solutions ensure rapid delivery and success.

PHASES

01
Requirements & Planning
02
Solution Design
03
Solution Build
04
Validate & Deploy

Requirements & Planning

During this phase we’ll identify your industry pains & strategic objectives. We’ll identify operational personas, pains, and goals. Lastly we identify your solution categories & associated objectives.

Solution Design

Here we define the high level functional design. We define framework components including foreseeable propensity models and data model. We also define and select relevant use cases with functional requirements and definition of offers, experiences, and metrics.

Solution Build

NGDATA alongside our solution partners set-up your solution environment and start building entity and interaction schemas. We configure metrics, load test data, build key integrations, and text.

Validate & Deploy

After validating the solution, NGDATA deploys our IEP within clients environment while providing ongoing support, maintenance, and overall solution optimization.

01 Requirements & Planning

During this phase we’ll identify your industry pains & strategic objectives. We’ll identify operational personas, pains, and goals. Lastly we identify your solution categories & associated objectives.

02 Solution Design

Here we define the high level functional design. We define framework components including foreseeable propensity models and data model. We also define and select relevant use cases with functional requirements and definition of offers, experiences, and metrics.

03 Solution Build

NGDATA alongside our solution partners set-up your solution environment and start building entity and interaction schemas. We configure metrics, load test data, build key integrations, and text.

04 Validate & Deploy

After validating the solution, NGDATA deploys our IEP within clients environment while providing ongoing support, maintenance, and overall solution optimization.