Services need to be delivered seamlessly with a five-star digital experience that drives customer loyalty and engagement. To succeed in the digital age financial services firms need more than just a basic website or an app.
Shift the majority of routine transactions into your banking app and out of call centers.
Use AI to differentiate fraudulent interactions from legitimate business transactions.
Identify customers likely to churn and proactively engage them before it is too late.
Monitor and recognize abnormal trading patterns.
Becoming a digital finance leader with a 5-star rated customer experience means having a partner with a holistic understanding of your app.
LotusFlare builds models which help you predict when a customer is likely to churn, and then takes action to prevent your customer from closing their account.
To delight customers on digital channels, financial institutions need to combine best practices in user interaction and user experience design.
We built a churn prediction model based on machine learning for a large bank in Indonesia, which has 30 million retail customers across 5,000 branches. In less than six months, we gathered over 24 million data points and are now able to predict customer attrition at an individual level with over 80% accuracy.
Combined with personalized marketing offers to drive retention, we helped our client reduce customer attrition by 5% in the following quarters.
A few simple questions can help baseline your digital readiness and start a case for change. These questions uncover digital enhancement opportunities that LotusFlare’s products and services can quickly solve.