By Fernanda Benhami, Customer Intelligence Manager at SAS
Big Data technologies have been providing more and more agility to understand the needs of customers of companies in different sectors. In the financial sector it is no different. With the expansion of communication and service channels for account holders, the amount of structured and unstructured data that can be collected and analyzed about customers is increasing. The challenge for banks is, therefore, to know how to use this information for the benefit of the business.
The increase in stored data has been due to a new customer profile, which requires a multichannel experience and agile service on different screens. While an account holder goes to the physical branch, on average, once a month, on digital channels accessed via cell phone or tablet, this interaction can reach up to 30 times in the same period, which multiplies the possibilities of collecting information.
Banking is no longer a place to go, but something you do. This new customer also uses the internet as a service channel five to seven times a month, while going to the ATM only three to five times in the same period of time. It is clear that the flow of people in agencies has been decreasing more and more, while digital channels are gaining more and more relevance.
The so-called 'bank 3.0' manages, through technology, to be ubiquitous in the customer's life and creates countless possibilities in terms of collecting and analyzing information. In this new era of banking institutions, the bank becomes intelligent and multichannel and needs to take advantage of this to develop new strategic directions focused on the behavior of account holders.
With the ubiquitous approach in digital channels, it is possible, for example, to offer products and services online, in real time, using available Big Data Analytics technologies. In this way, offers become more assertive and targeted, as they are made based on customer preferences, and the chance that they are successful increases. You can strategically apply predictive analytics to serve customers more effectively with their financial needs.
In parallel, social media monitoring makes it possible to engage customers, mitigate risks and react promptly to problems, in addition to enriching customer data with information that facilitates more effective propositions. All this made possible by digital channels, which allow banks to discover the best insights for each profile.
The increase in stored data has been due to a new customer profile, which requires a multichannel experience and agile service on different screens. While an account holder goes to the physical branch, on average, once a month, on digital channels accessed via cell phone or tablet, this interaction can reach up to 30 times in the same period, which multiplies the possibilities of collecting information.
Banking is no longer a place to go, but something you do. This new customer also uses the internet as a service channel five to seven times a month, while going to the ATM only three to five times in the same period of time. It is clear that the flow of people in agencies has been decreasing more and more, while digital channels are gaining more and more relevance.
The so-called 'bank 3.0' manages, through technology, to be ubiquitous in the customer's life and creates countless possibilities in terms of collecting and analyzing information. In this new era of banking institutions, the bank becomes intelligent and multichannel and needs to take advantage of this to develop new strategic directions focused on the behavior of account holders.
With the ubiquitous approach in digital channels, it is possible, for example, to offer products and services online, in real time, using available Big Data Analytics technologies. In this way, offers become more assertive and targeted, as they are made based on customer preferences, and the chance that they are successful increases. You can strategically apply predictive analytics to serve customers more effectively with their financial needs.
In parallel, social media monitoring makes it possible to engage customers, mitigate risks and react promptly to problems, in addition to enriching customer data with information that facilitates more effective propositions. All this made possible by digital channels, which allow banks to discover the best insights for each profile.
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