BFSI / Cards / Customer Service What Business problem does it solve? Most organizations operate contact centers to resolve customer queries and record calls for audit purposes. Contact centers have prefixed call reasons to understand the topic of calls. But most…
Predict & Optimize retention program profitability using a financial model
BFSI / Cards / Retention What Business problem does it solve? Attrition can be seen as a difficult situation for any organization when they are not fully prepared. But when organizations are well prepared, it can be a great opportunity to…
Predict & Optimize marketing program profitability using a financial model
BFSI / Cards / Existing Customer Management What Business problem does it solve? When there are multiple offers for customers, optimizing the right offer becomes crucial. There are two balancing aspects of optimization – The response of customers towards the offer…
Increase marketing campaign revenue by focused targeting through predictive ML models
BFSI / Cards / Existing Customer Management What Business problem does it solve? Responses to marketing campaigns on average vary between 2%-5%. However successful campaigns can generate a 10%-12% response rate. Various factors make campaign response above average, and one of…
Reducing acquisition cost by increasing application acceptance rate
BFSI / Cards / Acquisition What Business problem does it solve? Each month, numerous applications are rejected during prospect screening, primarily due to customer risk, high debt behavior, and incorrect information. Each rejection costs the bank in terms of resources that…
Improve customer satisfaction for the card business by reducing complaints using advanced analytics
BFSI / Cards / Customer Service What Business problem does it solve? Did you know that every complaint has a revenue or cost implication attached to it? For example a complaint of dispute not having been resolved not only has an…
Minimize revenue loss from churn by using proactive trigger
BFSI / Cards / Retention What Business problem does it solve? Only a few customers suddenly want to close a card due to reasons that can neither be predicted nor can be actioned upon. Most customers show a gradual journey towards…
Increase customer revenue by managing customer sentiment through the contact centre
BFSI / Cards / Customer Service What Business problem does it solve? Apart from the value prop of the card, one of the biggest drivers of customer satisfaction and loyalty is interaction on the contact center. On average 20-30% of calls…
Reduce servicing costs and maintain customer satisfaction using FAQ chatbots
BFSI / Cards / Customer Service What Business problem does it solve? One of the top bottom lines of card business is the contact center and all organizations want to optimize the cost to maintain higher profitability. However, reducing costs comes…
Reduce credit card customer churn using advanced machine-learning models
BFSI / Cards / Retention What Business problem does it solve? Attrition for credit cards is more complex than other products as customers with low/no fee products choose to silently attrite with no engagement and customers with fee products mostly choose…