Advanced analytics is used globally by leading banks to drive customer value, increase profit and reduce revenue loss from fraud and non-performing loans.
Marketing and customer insight
- Maximising current and future customer value
- via segmenting customers based on their behavioural patterns and product usage
- Improving customer retention
- predict likelihood of customer churn and develop intervention strategies to retain high value customers
- Improving product design
- use insight into customer behaviour to design better, more personalised products
- Maximising marketing ROI
- demonstrate the effectiveness of marketing activity in driving profit and customer value
Credit risk and fraud detection
- Reducing the likelihood of loan default
- Identify at-risk customers for loan default. Score loan applications based on their likelihood to default on personal, car or other loans
- Identify key indicators of loan default and develop intervention strategies to reduce default rate (pre- or post- loan approval)
- Identifying and mitigating fraud. Detecting fraudulent activities
- Automated fraud detection systems rely on advanced analytics and rapid scoring of real-time transactions on risk of the transaction being fraudulent