Keep customers and acquire new ones – artificial intelligence in financial services

Do financial institutions use artificial intelligence in their sales activities? What mechanisms are currently crucial in marketing automation? What are the benefits of such solutions? The answers to these questions were provided by the participants of the 6th edition of the “CEE SME Banking Club Conference”, during which the latest trends in the digital transformation in the segment of small and mid-sized enterprises banking were presented. One of the speakers at the meeting was Marta Mróz-Sipiora, Product Manager at Asseco Poland.

Financial institutions’ demand for smart banking solutions has been growing. Over 80 percent of these entities indicate that the implementation of artificial intelligence will enable them to better match the offer to their clients, and 56 percent that it will improve the fraud detection processes*.

The acceleration of digitization and growing amount of data make it necessary to automate marketing. In order for it to be effective, it has to work on the basis of artificial intelligence and machine learning mechanisms that are able to transfer available data sets, said Marta Mróz-Sipiora. The best confirmation of the usefulness of such solutions are the statistics, which show that the companies using them record over 450 percent increase in effectiveness in selecting potential customers and nearly 15 percent in sales efficiency while reducing the costs of marketing activities – she added.

The analytical system based on data and observation of customers’ online activities (social media, websites, mobile applications) determines the customer profile and recommends the best offer. It can be an offer aimed at acquiring a new recipient of products or services, as well as a retention offer addressed to existing customers. The operation of such a system is based on a 3-stage process, which includes: customer profiling, analysis and offering.

When talking to customers, I often hear a question about the function of machine learning and its use in the Asseco Customer Intelligence (ACI) system – said the Asseco expert. Our solution monitors customer behavior on the Internet and this is not only historical data, but also real time activities. This data is then analyzed, and thanks to the use of artificial intelligence, the system generates information that enables effective identification of potential customers and creation of a dedicated offer for them – she added.

 

 

 

 

 

 

 

 

 

 

 

 

 

*Source: The Economists Intelligence Unit