Customer Data Management
[wtm_use_case_cats] Financial Institutions need data. As a matter of fact, big data has revolutionized the way in which financial institutions function. The volume and variety of data are contributed through social media and a large number of transactions. The data is present in two forms- Structured dataUnstructured dataWhile the structured data is easier to handle, […]
Customer Experience – Chatbots, Image Processing, Customer Onboarding, Customer Service Level improvement
[wtm_use_case_cats] Customer onboarding is the complete process that users go through when they act as clients of a bank or FinTech company. Onboarding experience can truly determine the customer’s current relationship with the organization.Being fully digital enables customers to manage their financial lives directly from their smartphone from day one. It invites customers to open […]
Churn Prediction
[wtm_use_case_cats] A churn model identifies customers at risk of churn or who are most likely to switch, so the business can take action from losing them. Churn model provides metrics such as the number and percentage of customers lost, using the history of churned customer we can do pattern recognition, use the model on existing […]
Marketing -Propensity Model
[wtm_use_case_cats] While upselling is the practice to give customers an option to buy a high-end product which is better than the one they are considering. Benefits for the company Banks target their own customer to sell the products or increase the customer’s basket size by upselling and cross-selling, thereby increasing the customer engagement by their […]
Real – Time Predictive Analysis
[wtm_use_case_cats] Machine learning algorithms are a promising tool used to predict trends in the financial market. Companies can train their machine learning apps on large amounts of data and in real-time scenarios. This approach allows businesses to react to market changes earlier and more flexibly than when forecasting with traditional methods. Financial companies can also […]
Recommendation Engines
[wtm_use_case_cats] The idea of the project is to have a recommendation system that can recommend products to customers. The product recommendation can be optimized and create new area for those product recommendations. Unlike traditional propensity model, these are more robust with larger amount of data and sophisticated algorithms which have higher penetration but harder to […]
Customer Segmentation
[wtm_use_case_cats] The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize the value of each customer to the business. Types of Customer Segmentation in the industry : CLV Focused Customer Segmentation, Segment via Cluster Analysis, RFM (Recency, Frequency, Monetary ) Segmentation Benefits for the company […]
Customer Lifetime Value
[wtm_use_case_cats] A Customer Lifetime Value offers a discounted value of the future revenues that are contributed by the customer. Essentially, it is the amount of money that they will spend on your products and services after the expenses of acquiring them as a customer. There are numerous types of CLV. The two most popular forms […]
Risk Modeling/ Credit Scoring
[wtm_use_case_cats] This technology is often used in fast lending for small amounts, when registering consumer express loans in real stores by credit companies, in the business of mobile operators or insurance companies. Scoring is the assignment of points by filling out a certain questionnaire developed by credit risk assessors. Based on the results of the […]
Fraud Detection
[wtm_use_case_cats] Banking organizations use it to monitor a considerable amount of transaction parameters at once for every account in real time. The algorithm examines historical payment data and analyses every cardholder’s action. Fraud detection involves monitoring and analysis of the user activity to find any usual or malicious pattern. Such models can be highly prominent […]