Given customer expectations for personalized and contextual services in real-time, how can banks reimagine their services, respond and stay relevant today? Advanced analytics play an important role in the banking industry – be it for customer acquisition and retention, account management and growth, or branch/product productivity and performance. Advanced data analytics embody systems that learn on the go, fine-tuning their responses over time. For a bank this translates to gaining an understanding of its customers in the context of their relationship with the financial institution’s brand, and engaging with them through relevant offers on the right channel, at the right time with the right message.
Answering the question, “What is a customer going to like even before they begin looking?”, TCS BaNCS OPTiX is an analytics solution that offers contextual insights to a bank, rendered through enterprise apps and embedded analytics, enabling faster adoption.
It comes pre-configured with more than 50 banking-specific analytical models, helping generate insights about customer lifecycle around acquisition, development and retention alongside product performance, branch productivity, among others. Enabling contextual behavior, customer centricity and enterprise agility, this solution helps banks leverage the power of new or extended ecosystems.
Contextual information about customer buying behavior, spending patterns, life events, segmentation, life-stage analysis
Predictive models describing the “next best product” and information about customer lifetime value
Focused cross- and up-selling through a recommendation engine, coupled with market-basket analysis and uplift modelling
Reduced customer attrition through profitability scores, portfolio and sentiment analysis
Improved risk identification by predicting loss given default, exposure at default, and default churn
Better understanding of loan repayment patterns that can help the bank to control delinquency