A major bank in Southeast Asia needed a solution to improve the speed to offer and relevance of credit card usage promotions conducted via email. They had the latest data science software but low prioritization in IT and limited access to data scientist support meant timeframes of 6 to 12 months from idea generation to implementation. By the time the promotions were implemented they were already stale. The suboptimal outcomes achieved resulted in a lack of interest in this valuable communications channel from bank staff and poor reception by cardholders.
The bank sought the OneAnalytix solution to remedy this dismal situation. Using AI/data science, we were able to instantly identify relevant prospects and generate the target lists for each promotion. This allows the bank to send email messages only to those customers with a high probability of response, greatly reducing the number of messages wasted on customers who would likely find the message to be spam. This results in fewer nuisance messages to customers, leading to higher response rates and greater customer satisfaction. Further, since the prospect list was highly targeted, the bank was able to use SMS to communicate with cardholders in real time knowing that the message would be relevant.
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