Community Banks need a COVID-19 response aimed at managing risk and improving customer experience
Incedo’s “Analytics-as-a-Service” helps Community Banks leverage advanced analytics, machine learning and artificial intelligence to deliver measurable impacts
Based on our prior experience of providing end-to-end solutions for banking clients across multiple geographies, Incedo’s "AaaS" comprises of 'Ready to Serve' critical business solutions enabled as backend engines across Growth, Retention & Risk areas for the bank.
Incedo’s "Analytics-as-a-Service" : Key Features
Comprehensive and scalable service that leverages combination of AI/ML enabled technology accelerators and deep banking domain expertise to drive sustainable business impact
Library of pre-built ML models across customer lifecycle for retail and corporate banking portfolio, spanning across risk management, customer retention and growth areas
Rapid and Automated provisioning for data connections with on-prem data, cloud migration and use of model libraries enables insights and recommendation generation in a matter of few weeks and not months
Incedo’s CX Optimization platform enabled data discovery, model development, automated hyper parameter tuning and model operationalization
Best in class data security features including encryption and tokenization, identity and access management and security intelligence log to ensure your data is secure and protected
Pay as per use cases delivered and availability of contracts with duration as low as one year ensures that even small banks are able to scale up AI/ML for their decisioning
How it works ?
Bank’s personalization & CX optimization journey powered by Incedo’s “Analytics-as-a-Service”
The customer is a large regional bank that wanted to deepen existing customer relationships, reduce attrition rates and improve digital sales.
They had done extensive research on digital and cross-sell benchmarks and understood improvement was a significant opportunity. However, they did not have the data science and analytics capabilities to capitalize on the opportunity
- Low Cross Sell & High attrition rates – Low penetration of existing relationships and attrition of high value customers
- Almost no digital sales – Driving sales to higher cost channels
- Little client segmentation & data science capabilities – Inability to target personalized offers
- Cloud based digital ML platform – Implementation of AWS based cloud platform, developed iteratively with use cases across growth and retention engine
- Targeted Cross Sell Campaign Strategy – Driving sales to higher cost channels
- ML enabled attrition management – Improved retention rates for high value credit product holding customers
- Digital Integration & Experimentation – Learning based campaign experiment design, measurement and execution
2X improvement in conversion rates and incremental sales for cross Sell program
+ 20% Retention
20% improvement in retention rates for high value credit product holding customers
Improvement in digital channel contribution for sales across products
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