VeriPark Customer Insights for Banking
Delivering personalized banking experiences requires a sharp focus on the customer. That involves knowing the customer and tailoring their experience using that knowledge.
With an exclusive focus on the financial services industry, VeriPark extends Dynamics 365 Customer Insights to help banks adapt their technology to better understand their customers, present personalized offers and market their products to the untapped customer segments rather than having their employees struggle with complex dashboards and lengthy analysis. The module provides real-time insights that power the entire customer journey.
VeriPark Customer Insights for Banking aims to prevent churn of customers, competitive buy-outs and product cancellations by predicting the likelihood of these negative outcomes from banking transactions and other behavioral data.
The solution works on top of Dynamics 365. It helps making sense of the customer’s current data and provides a smart 360-degree view through the analytical capabilities in its infrastructure. Centralized views enable employees to make instant cross-sells and up-sells based on the customer’s history.
Key Features
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Customer Data
Bring in customer data from various data entities available under Dynamics 365 with ease, whether the data is kept as transactional or behavioral format.
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Measures
Viewing both customer and overall business measures such as average credit card spending, investments, down payments and goals.
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Activities
Customer’s events on interaction timeline with time stamps such as purchase of insurance products or obtaining a loan.
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Interests
Product interests of the customers on a scale for various products.
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Channel Statistics
Comprehensive timeline of the customer activities and interactions across various channels.
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Life Event Detection
Detection of life events such as marriage, relocation, career change, job loss and travel.
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Churn Scores
Using VeriPark’s proprietary machine learning models to predict the probability of the customer’s preference to stop using the bank’s products over the specified time period in the future.
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Referrals Graph
Displaying relationships between customers based on Connections set up between customers.
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Household Graph
Displaying a graphical view of customer’s household and household members.
Key Benefits
- Enabling relationship managers to deliver a personalized customer experience
- Identifying the right customers to increase profitability
- Increasing competitive differentiation and driving customer retention
- Driving more informed conversations with real time consolidated customer data
- Increasing cross sell and up sell ratios
- Overseeing all channels for better visibility into utilization and preferences
- Connecting employees quickly to the information they need with role-based views
- Increasing profitability with informed, personalized offers and services
- Increasing compliance with regulatory requirements for enhanced data quality
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