Regional European bank quadruples digital sales with AI/ML enabled personalization

The bank had set its sights on driving digital sales with AI/ML enabled cross-sell personalization, improve conversion rates for its credit products and increase loan disbursal through a new targeting framework. The bank observed a constant decline in customer engagement metrics (acquisition, cross-sell, retention etc.) despite marketing and technology investments.

Some of the key challenges were low cross-sell and retention rates for credit products, almost negligible digital sales, and limited client segmentation and data-science capabilities to offer personalized services.

As part of a digital transformation strategy, Our Solution leveraged Full stack Data, AI and Cloud for ML-driven, cross-sell personalization. It delivered cross-cutting insights and actionable recommendations that included the following: optimal product identification based on ML models to maximize response rates, personalized product marketing & channel instrumentation (emails etc.) for campaigns, monitoring and model refinements on an ongoing basis.

The ML-driven, cross-sell personalization solution successfully drove the bank's digital transformation. It delivered a significant increase in digital sales, improved conversion rates, and enabled a more effective and personalized marketing strategy.