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KXEN, An SAP Company

InfiniteInsight® allows us to turn analytics into a competitive advantage. 

Kunter Kutluay
Head of Retail Credits

Finansbank Reactivates Half of Its Previously Dormant Customers

Challenge

  • Three years of declining interest rates had brought huge growth in the market for loans and credit, while at the same time Finansbank, Turkey's fifth largest financial institution, was seeing industry-average levels of dormancy among its existing customer base.
  • Predictive analytics projects used to take as long as six months.

Solution

  • To help reduce dormancy Finansbank turned to analytics technology and set up a dedicated marketing analytics team.
  • After an extended evaluation of analytics tools, the Finansbank team chose InfiniteInsight®, which soon became the predictive analytics tool of first choice for predictive analytics.
  • InfiniteInsight® impressed the team with its ease of use by non-experts, the quality of the analytical models it produced, and the sheer speed of its operation.
  • Using InfiniteInsight® a complex analysis of customer data was performed involving a large number of variables, including past transactions, product ownership history, actual or predicted income levels, demographics and other factors.

Results

  • The marketing analytics team completes two concept to execution data mining projects each week using InfiniteInsight® and the team believes KXEN’s technology allows more analysis to be put into every action.
  • Within 4 months of starting the project to combat dormancy using InfiniteInsight®, the bank had successfully reactivated half its previously dormant customers, turning them back into active revenue generators, reduced the risk of them defecting.
  • Target population reduced by around 50% while maintaining a healthy conversion rate.
  • Monthly credit card transaction volume has increased by well over the industry average.
  • The bank substantially grew its market share in one of the most contested markets in Europe.
  • An early deployment in an investment cross-sell application generated encouraging results by accurately identifying prospects for investment products based on a credit card holder’s spending patterns.
  • Predictive analytics projects that used to take as long as six months can be done in a few days.
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Industry: Financial Services
Size: Large
Region: EMEA