Advancing Banking and Insurance with Customer Analytics
Get customer insights for data-driven retention and activation of high-value clients.
Drive growth of your business with better targeting, increased CLTV, and improved digital adoption. Prevent the risk of losing customers due to friction in the customer experience. Reduce and better control your costs related to acquisition and retention.
Activate your current clients
Whether your challenge is customer friction, efficiency, customer churn, lacking a single customer view, or you are not sure exactly what your issue is – we will work with you to define the problem and we guarantee to deliver a solution. Customer analytics bring benefits in these areas:
Connecting traditional banking with digital
Clients are increasingly turning to digital channels for advice and sales. The expectation from the client is to get a personalized, omnichannel experience from their bank or financial services provider and if they do not get this, they will quickly seek it elsewhere. Achieve a single customer view enabling such experiences, to reduce friction, and beat your competitors.
Segmenting clients based on value, not volume
Financial services institutions need to activate high-value customers more effectively through granular segmentation and personalization. Enable predictive modelling of CLTV and propensity to churn and retain your most valuable customers.
Data-driven decision-making for product offerings
Micro-segmentation is helping to tailor products to the specific needs of customers and keep them engaged with your brand. Test and learn which offerings resonate most with customers and how your portfolio needs to evolve to keep up with the demands of your valuable clients, before they look, and go, elsewhere.
How our data and customer analytics services are helping leading banks and insurance companies
Analytics helping your business growth
CLTV, Retention, and Churn
Predictions of customer lifetime value (CLTV). Analysis of customer churn and customer churn rates and improvements to loyalty programs.
Classify your customers based on machine learning outputs (e.g., predictive RFM Analysis) to identify your best clients.
Map customer touchpoints by making a list of when and how your clients engage with your brand.
We facilitate the creation of master customer records called a single customer view or 360-degree customer view.
How we help you
Enable your customer data for an omnichannel experience and improved results
Integrate different customer touchpoints, customer behavior data, and customer expectations to help better understand your customers’ needs and make better business decisions. An effective data framework is easy to maintain, easy to enhance, has one single source of truth, has quality rules defined, and considers all types and formats of data.
Why analytics services
Do you need data insights where the requirements are beyond your internal capabilities or infrastructure? Do you favor a rapid response to your business challenge? Do you need to innovate, prototype, or discover value quickly? Simplity is an award-winning, data-specialized consultancy with 12+ years of international experience from large-scale projects in highly secure environments, with a focus on data quality and management. We ensure quality insights backed by our knowledgeable and experienced team of data scientists and analysts.
How we deliver value fast
1. Initial meeting and discovery phase 2. Brainstorming and data assessment 3. Solution proposal 4. Proof of concept 5. Implementation and recommendation 6. Rollout, evaluation, and optimization