Typically most financial institutions have multiple products and services. You face numbers and performance pressures on all these products and services. Also you often run into conflicting business pressures to push asset and liability products. Then there are multiple communications needed to be had with customers. You have to activate some customers. You have to cross-sell to some. You have to upsize some relationships. And so on. And you have to do this for multiple products and services simultaneously.
How do you achieve all these business goals?
The Customer Value Maximization platform allows you to have conversations with customers. The smartness of the platform is the way in which it allows you to have conversations. It uses sophisticated machine learning algorithms running on a big data platform to analyze your customer master and transaction files. Once you set the business goals and the products for which you are trying to achieve those goals, the rest is a series of button clicks to design your conversation.
The platform already knows which customers to target. Which segments to include and exclude. Which customer cohorts to prioritize. What messaging to design. What kind of conversations to have over what channels.
Based on that, the platform dynamically suggests different criteria you may want to consider for your conversation. You simply select what you want and what you don’t want. And using the prebuilt assets, conversations get initiated with customers over multiple channels. And since this is about being able to understand all customer behavior, not only do conversations get triggered, but also customer responses are tracked and analysed for further action. The customer value maximization platform is channel agnostic too.