AI Driven Hyper Personalized Product Recommendation for Retail Banking
Our client is a leading Bank based out of New Zealand. They are serving retail & business clients across region and covering products like Bank Accounts, Credit Cards, Loans & Insurance.
Problem Statement
With huge amount of data, client wasn’t able to fully utilized it to provide hyper personalized recommendation to its customers and somewhere lacking the competition in market.
Our solution
We suggested an AI based hyper personalized recommendation engine which will leverage real-time data, predictive analytics and advanced AI models for personalized offers to bank’s users.
Results
DataFram System helped its client in increasing sales and client’s retentions big time. Our Hyper Personalized recommendations built to ensure customer’s needs and sentiments are met at right time. We ensured that misuse of data showcasing aggressive spam marketing is avoided at all level of product recommendations.
Deep analysis of customer behaviours, transaction patterns and sales queries also helped bank to mitigate risk of possible fraud and defaults. We used extensive data security and privacy policies while implementing the solution to ensure that the system is future ready keeping the rapid change of technologies in mind.