Aug 01, 2022
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Service categories
Service Lines
Big Data
Domain focus
Banking & Financial Services
Programming language
Python
Frameworks
Hadoop
Subcategories
Big Data
Data Analytics
Data Science
Marketing Analytics
Predictive Analytics
Challenge
As part of its strategy, Raiffeisenbank CZ wants to use data on customers and their transactions in an advanced way to increase the relevance of offers from the customer’s point of view, target offers more effectively and increase the conversion rate of a large-scale campaign aimed at selling consumer loans.
As part of its strategy, Raiffeisenbank CZ wants to use data on customers and their transactions in an advanced way to increase the relevance of offers from the customer’s point of view, target offers more effectively and increase the conversion rate of a large-scale campaign aimed at selling consumer loans.
Solution
The solution needed to meet the following specifications:
• Increase the conversion rate of large-scale consumer credit campaigns
• Leverage other channels and increase success rates
• Integrate the solution into CRM and campaign management system processes
• Adhere to strict outreach policy requirements
The solution needed to meet the following specifications:
• Increase the conversion rate of large-scale consumer credit campaigns
• Leverage other channels and increase success rates
• Integrate the solution into CRM and campaign management system processes
• Adhere to strict outreach policy requirements
Results
A campaign offering consumer credit targeted at customers via the advanced use of transactional data produced the following results:
• Within two months, the bank reached approximately 95,000 customers through various channels
• The model identified the most suitable 10% of the customers to be reached by the call centre
• By selecting the right customers, the call centre increased its conversion rate sixfold compared to matching done without using the model
• Across all channels, the data-driven solution was 50% more successful than the existing model
A campaign offering consumer credit targeted at customers via the advanced use of transactional data produced the following results:
• Within two months, the bank reached approximately 95,000 customers through various channels
• The model identified the most suitable 10% of the customers to be reached by the call centre
• By selecting the right customers, the call centre increased its conversion rate sixfold compared to matching done without using the model
• Across all channels, the data-driven solution was 50% more successful than the existing model