Hyper- Personalized Loyalty Program
"AI &ML can provide an efficient and optimal solution with big data ensuring accurate forecasting, product positioning, and ideal customer targeting.”
In a world where mobile banking, digital payment, shopping points, and discount offers have become the norm; the banking sector is presented with an opportunity to provide customized, personalized services that suits the consumers’ needs and create even more close relationships with them to be the ultimate banking service provider. While the banking industry is still exploring these options, many new challenges emerges from this situation. Like, providing right services for customer needs, handling dynamic customer demands, offering customer delight with personalized and real-time rewards and many more. This is where precisely, the need for Artificial Intelligence and Machine Learning comes into play.
A reputed banking firm with four thousand plus employees with an annual turnover of upwards of $600 million. The firm is a crucial player in the retail banking business and wanted to develop the positioning of their retail instruments in the market by targeting the right customers and providing them personalized offers.