TCS Customer Intelligence & Insights™ for banking
AI-driven insights for personalized banking customer experiences
Banks find it difficult to personalize relationships and increase lifetime value with customers
Customers expect the same personalized services, products, and advice from their bank as they get from other industries. Unfortunately, many banks struggle to gain visibility across data silos to understand customer behaviors, sentiments, and preferences. They are unable to personalize customer engagement and offers in real- time to deepen customer relationships and grow customer lifetime value (CLV).
- Relationship managers do not have the real-time, data-driven insights needed to engage effectively with customers throughout their customer journeys.
- Marketing professionals are unable to proactively target the right customers with the right banking products and services via customers’ preferred channels.
- Risk managers are ineffective at reducing customer default, predicting early pay-off, and monitoring portfolios.
The effects of not addressing these challenges typically are:
- Not able to meet CLTV objectives
- Low marketing conversation rates
- Low conversion on cross-sell/up-sell offers
- Inactive and/or overactive channels
- Decreasing or flat revenue
- Slow up-take for new products
- Low engagement rates
- Channel abandonment
- Churn rates higher than industry average and internal benchmarks
- High abandonment rates for key processes (such as loan applications)
Explore a flexible customer analytics and real-time CDP software solution, with prebuilt use cases for banking
TCS Customer Intelligence & Insights™ (CI&I) for banking is a flexible customer analytics and real-time CDP software solution, with prebuilt use cases for banking. CI&I collects and unifies first party and multi-source customer data and makes it available to CI&I customer analytics and other systems of insight and engagement – enabling banks to improve cross-sell, upsell, customer experiences, and retention, while reducing loan defaults.
CI&I is powered by a robust underlying platform that provides advanced AI/ML capabilities. Its pre-built use cases for banking sit on an extensible enterprise platform that monitors, manages, and optimizes the customer experience in real-time. CI&I enables banks to understand their current and potential customers better, identify and capitalize on opportunities faster, and build loyalty and value with every customer interaction.
- Key Features & Benefits
TCS Customer Intelligence & Insights for banking delivers the following benefits:
Retail Banking
- Customer Analytics: Activate deep customer insight and foresight with Customer 360/base view, Next Best Offer, and Digital Persona Discovery.
- Marketing Analytics: Increase conversion & acquisition with better targeting features, dynamic segmentation, events-based marketing, and Next Best Action.
- Lending Risk Analytics: Reduce the risk of defaults and improve overall portfolio performance with features including probability of default, probability of early payoff, and covenant recommendations.
Business Banking
- Intelligent Prospecting: Identify and acquire new SMB customers with business fit discovery, banking intent signals, and contextual product recommendation.
- Actionable Cashflow Insights: Improve cross-sell and upsell with cashflow prediction and cashflow exceptions, ranked leads, recommendations and alerts, and loan default reduction.
- Real-time Activation: Improve retention, manage risk, and grow customer lifetime value (CLV) with contextual product recommendations, real-time journey tracking, probability of early payoff prediction, and customer lifetime value calculation.
