CDP Use Cases for Retail Banking
Our NGDATA use cases for retail banking have been created to solve common challenges businesses are facing.
Learn how NGDATA’s Intelligent Engagement Platform allows banking companies to prevent customer churn and create positive customer experiences in the four showcased below.
Mortgage awareness to onboarding
Guide customers through the mortgage journey. By leveraging the analytical journey capability within NGDATA’s Intelligent Engagement Platform, banks can create compelling acquisition journeys that are based on real-time customer insights. Inbound and outbound communications are combined within one journey and are optimized for the most appropriate channel at the right time.
Credit Card Location Targeting to Drive Engagement
Many credit cards display merchant offers, but in order to drive greater engagement, the offers presented need to be contextual both in terms of spending preferences and location. NGDATA provides a location-based targeting template to easily implement and scale merchant offers over time. To ensure the selected offers are relevant, the system takes the behavioral insights and customer analytics into account that are gathered in our Intelligent Engagement Platform’s Customer DNA.
Gaining a Top of Wallet Position for your Credit Card
Being the ‘top of wallet’ is often a battle of the best incentives and perks such as cashback and lounge access. In return, you get the customer’s attention and data to further maintain and develop a mutually beneficial and profitable relationship. The NGDATA Intelligent Engagement Platform combines strong analytics and decision-making capabilities which are key to ensure a customer’s spending pattern is continuously monitored and the right action is taken in real-time when deviating trends are identified.
Successful Credit Card Onboarding driving Engagement
The cashback spending goal use case includes an engagement-driven customer journey with ‘start to spend’ reminders in a certain period after the initial offer communication went out. The Customer DNA has models to predict if the spending goal will be reached at the end of a period. Depending on the deficit or excess in balance, the system will score and rank relevant next best actions.