Challenge
Banks today are facing the challenge of offering the optimal product to their customers at the right time. Our client needed to take measures in order to operationalize different projects in data-driven marketing, collate all relevant information about their customers.
In this project we also needed to combine strategic views of the client with the state-of-the-art technological solutions to reach maximum efficiency in marketing operations.
Solution
In this project we helped our client to identify the preferences of the customers and adjust their marketing and sales strategies accordingly. This was achieved by creation of Customer Analytical Record (CAR) with around 800 features covering socio-economic and business-relevant data and feeding two analytical models.
The AI-based models were aimed at predicting churn probabilities and product affinities for existing and potential customers.
With the help of these predictions the client was able to refine strategic decisions as well as focus their campaigns on more profitable customers.
Result
The customer acquisition cost was cut by 20%
Client - International Bank
