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Challenge

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. As such organisations have traditionally managed businesses through product silos, deploying an advanced analytics solution means re-hauling architecture to provide a real customer relationship view that recognizes the totality of every relationship.

Solution

TCS BaNCS OPTiX from Tata Consultancy Services is an advanced analytics solution that enables a financial organisation to gain a “one customer, one enterprise” view.

Having delivered financial solutions across business domains to more than 450 financial institutions worldwide, we have designed TCS BANCS OPTiX that leverages on our experience. With its own data layer that accepts data from multiple applications in the ecosystem and with over 50 banking and insurance-specific analytical models, TCS BaNCS OPTiX helps generate insights about customer lifecycle around acquisition, development and retention alongside product performance, branch productivity, among others.

Benefits

  • 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

 

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