Facts n Data | Industry Details

One of the oldest and the most critical industry in any economy, BFSI sector has faced complete transformation and disruption in the wake of digitalisation. Since year 2000 in general, and since 2015-16 in particular, the industry has seen exceptional changes, particularly in terms of increasing competition and regulatory pressures. This brings many challenges such as :

Customer side challenges:

Customer retention
Customer engagement & loyalty
Customer-product mapping
Own-base retargeting – up-sell/ re-sell
Increasing market share
Customer one-view
Managing customer experience across touch-points
Managing and understanding customer lifetime value

Competition side challenges:

Product differentiation
Competition insights
Competition strategies
Increasing the pull of various deals/ partner offers

Channel side challenges:

Increasing adoption of new channels in some segments
Differentiation own digital channels from competition’s
Uniform customer / family experience across channels

Managing costs

Managing NPA’s – reducing bad debt

Connect with us to understand how our customized offerings for the BFSI sector can help you to overcome these challenges.

HOW FACT'n'DATA CAN HELP?

Customer Mapping ( Product & Channel)

Facts ‘n’ Data® have proprietary Machine Learning based algorithms that use concepts of Game Theory to map right customer with right product that increases stickiness. This is particularly important for renewal-based products such as insurance.

Customer One-View

Create exceptional customer segmentation for better targeting, cross-channel marketing and eliminate siloed or duplication of data. Our AI-based proprietary algorithms and skilled talent help in creation of customer groups to generate customer one-view and customer influencer circles through a detailed automated data cleansing, recovery of poor quality data, grouping data from multiple streams & sources, and, augmenting data from external sources.

Make Faster Credit Decisions

Our AI-ML based proprietary tool pulls data from different credit agencies, cleanses & augments this data, and runs predictive models to create customer segments based on financial discipline & responsibility. This assist financial institutions choose the segments to target based on the risk appetite.

Enhanced Customer Experience

Our tested models perpetually measure customer engagement & satisfaction by means of rotating online panels while keeping a tab on the perceptual map. We utilize our in-house tools to analyze the omni-channel customer journey to understand pain points and work on their removal.