Today’s financial industry is faced with several challenges from budget cuts and increased competition to a growing demand for digital-first customer experiences. Banks and financial institutions need to increase agility and quickly respond to customers changing expectations to compete effectively with traditional financial service providers and nontraditional providers such as Apple, PayPal, Google, and Facebook.
To better serve today’s digitally empowered consumers, banks must understand and engage with customers across all digital and physical touchpoints with timely contextual actions, offers, and services that harness the potential of connected banking. To deliver the hyper-personalized products, services and experiences today’s customers expect across their unique journeys, banks need an in-depth understanding of individual customer personas, their life goals and lifestyle needs.
TCS’ Customer Intelligence & InsightsTM (CI&I) for banking is customer analytics software built specifically for improving the customer experiences in retail-consumer, small to midsize business (SMB) and corporate banking. CI&I applies advanced analytics and machine learning techniques to provide a 360 degree profile of each customer. It discovers customer personas, enables dynamic customer segmentation, maps customer onboarding journeys, and generates highly relevant, contextual next best offers and actions while protecting customer privacy that comply with global privacy regulations.
CI&I’s pre-built use cases sit on an extensible enterprise platform that is designed to monitor, manage, and optimize the customer experience in real time. It enables banks to better understand their current and potential customers, identify and capitalize on opportunities faster, and build loyalty and value with every customer interaction.
CI&I for banking differentiates in the market by providing a unique combination of:
- Prebuilt use cases built on domain specific analytics that enables automatic persona discovery, hyper personalized recommendations, customer 360 views, deep segmentation, real-time contextual offer recommendations and customer journey analysis that deliver actionable and timely insights.
- An open source, extensible IoT-ready platform that easily integrates existing and emerging IT environments and delivers insights to front-line stakeholders and systems such as mobile apps, websites, chatbots, tellers, marketing automation systems, and more.