Relationship Analytics

For retail banking

Zafin’s Relationship Analytics turns data into actionable insights, empowering Relationship Managers to identify customer behaviours and characteristics — and then make prescriptive recommendations to maximize product cross-sell, minimize channel costs, and enhance customer experience.

In conjunction with miRevenue for Retail Banking, business users can develop personalized offers for individual clients based on their value to the bank, and relationship managers can work with clients to reduce attrition and optimize their relationship by adding products, using lower-cost channels, and more.

 

Key Benefits

  • Deepen relationships by enhancing product cross-sell capabilities.
  • Enhance the client experience by delivering personalized product offers.
  • Increase retention by identifying and targeting clients exhibiting attrition risk behaviours.
  • Minimize channels cost by identifying and incentivizing activity with lower-cost channels.
  • Increase the effectiveness of marketing campaigns with behavioural insights.

 

Features

Customer Relationship Score (CRS)

A proprietary, algorithmically derived metric applied to every banking client that reflects value to the bank based on deposits, transaction volume, product portfolio, tenure, and more.

Next Best Product

Leverages client data to match banking services with the highest propensity for take-up for each individual client. Match products with client need.

Relationship Scorecard

Provides an intuitive home base for understanding all aspects of a client relationship, including the summary of client holdings and history, Customer Relationship Score, and Next Best Product recommendation.

CRS Optimizer

Shows the various ways the client can improve his/her CRS and includes a scenario analysis tool to show the hypothetical effects of deepening his/her relationship with the bank.

Offer Curation

Allows segment managers to build and individually price products based on specific criteria, and then offer them automatically across large client segments.

Channel Optimizer

Identifies opportunities for relationship managers to move clients from high- to low-cost servicing channels.

 

What is the Customer Relationship Score?

Zafin developed the Customer Relationship Score (CRS) to measure the breadth and profitability of customer relationships. The CRS ranges from 150 to 950 and is dependent on factors such as a customer’s account activity, the number of products they have with the bank, and their transaction patterns. The purpose of the CRS is to quantify the strength of the customer relationship in order for managers to respond to clients accordingly and develop more targeted product offerings.

 

Relationship Analytics further leverages the fee transparency made possible by miRevenue to influence changes in customer behaviour.

Zafin’s advanced, statistical models utilize big data and machine learning to deliver cutting-edge predictive capabilities. This translates into more informed offers with greater take-up, leading to happier customers and improved bottom lines.

Relationship Analytics is everything you love about miRevenue, but taken to the next level: Real Insights in Real Time.

 

Related Resources

 

Take the next step. Talk to Zafin today.

Contact us to learn how Relationship Analytics can help you develop deeper, more personalized, and more profitable relationships with your clients.