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Experian’s core expertise lies in data and analysis, which enables our customers to get unique insights which lead to making informed decisions for profitable growth. We work closely with Decision Analytics clients in more than 60 countries across diverse industries, including financial services, telecommunications, retail, leasing, automotive, insurance, government agencies and utilities, enabling them to make billions of customer-focused decisions annually.
Contact us to know how you could leverage our global expertise to achieve business growth.
Maximizing Customer Profitability
Overview:
With retail banking now involving a complex web of customer relationships, traditional methods of handling each customer account separately have become obsolete. In addition, a limited view of account-level relationships with the bank has resulted in inconsistent and conflicting customer engagements.
In this scenario, it has become critical for banks to generate customized responses and solutions for each customer with a consistent strategy. Increasingly, banks are recognising the significant benefits gained by implementing customer-level management to understand and capitalise on existing customer relationships, which in turn help banks to realise maximum customer satisfaction and value.
What Experian’s Customer Management solution does best:
Provides a 360-Degree View of Customers: Brings together automated customer-level management, data management, predictive analytics and expert consulting to enable banks to connect with customers as individuals rather than as a disparate collection of accounts.
Offers Behavioural Data Analysis: Data is aggregated from all the customer's accounts and combined with demographic and credit bureau data. Using behavioural scoring models at account and customer level, a customer profile is created that encapsulates the individual's entire relationship with the bank, which also helps the bank to identify its most valuable customers.
Formulates Strategy based on Behavioural Data: Customer behavioural data mining provides outcomes on measurement of risk, customer profitability, propensity and lifetime value to ensure the dynamics of the customer relationship are understood and used to drive a wide range of appropriate and relevant customer management strategies. These strategies can be applied at both the customer and account level.
Feedback Generation: The customer profile is used to streamline and automate a wide range of activities such as customer reviews, application decisioning for existing customers and collections management.
Overall Benefits:
Experian’s Customer Management solution delivers the following benefits:
Increased income with additional lending
Increased sales by making effective use of resources
Reduced bad debt write off
Reduced collections costs
Increased cross sell
Compliance with Basel II requirements