Knowing your bank customers
The objective of the marketing departments of financial institutions is to open a dialogue with customers to meet their financial needs through new products and services launch. Marketing departments use new technologies to obtain deeper knowledge of their customers aiming at offering them personalized promotions leading to boost the bank institutions profits.
The banking sector is aware of customers´ volatility. If customers feel their banks no longer satisfy their needs, they leave them. Customers retention involve greater customer satisfaction to reduce churn propensity and consequently better chances of launching new services.
In Grupo AIA, we have provided AI based- systems for over 30 years to give support to commercial activities. In 1991, long before Big Data and Machine Learning´s boom, Grupo AIA developed (in collaboration with Banc Sabadell) solutions, such as SÉNECA, a first generation business expert system.
Currently, Grupo AIA is developing innovative solutions for marketing departments through predictive models based on Machine Learning, Deep Learning and Text Mining latest techniques. This allows us to obtain a powerful characterization of customers and customers life cycle for developing integral models designed to help to understand and forecast churn and their buying propensity of new products and services.
Knowing in advance when a customer will need financing is also essential for financial institutions. Grupo AIA can predict customers need for financing, as well as the channels, products and most suitable time to offer it to them.
In short, Grupo AIA´s technology enables to get deeper knowledge of banking customers and allows us to provide effective solutions to marketing departments.