The bank’s existing loyalty and rewards programme has an unsatisfactory penetration rate and is not leveraging data sufficiently to entrench customers. The bank also has an aggressive drive for improving market share through increased primary banked customers.

On the back of earlier work done for the bank, BSG was asked to assist by leveraging customer intelligence and data, to enable the bank to better understand their customer’s financial behaviours and spending patterns.

To drive business value, an organisation requires data preparation and enrichment as the cornerstone activities to consolidate and transform disparate data into a format that will drive business value. For this project BSG developed analytics models to segment customers based on their value, behaviour and affinities. Insights were then drawn, using these models and customer data, to answer key business questions.

The customer insights revealed would not only be of value to loyalty and rewards, but given the extended nature of data collected, the whole bank would be able to benefit from a deeper understanding of their customers.

What was unique about this project was BSG’s approach of innovative thought processes to push the boundaries of how to. Instead of merely relying on the information given to BSG, innovation was utilised to creatively change the given data structure to release hidden information through transformations and feature engineering. This was all achieved through continuous engagement and collaboration with the bank’s key stakeholders.

By expanding the BSG toolset and using what is most appropriate , the information was extracted effectively and efficiently to present the information in a story that non-technical business owners could relate to.

Focus was maintained on surfacing only information that is actionable, implementable and non-trivial i.e. real intelligence that the bank can utilise to better understand their customers in a way that is beneficial both to the bank and the customer.