Phil, Director Customer Insights at a $15bn Regional Bank.

In addition to Predictive analytics, Phil’s team use Event Triggers to detect and respond to changes in customer behavior. To date they have had significant success with a solution that analyzes daily transactions to detect unusual deposits and withdrawals.

Distribution channel leaders in Branches and the Call Center claim that as many as half of the intervention leads that are generated from the solution are “false positives”, meaning the transaction is only one side of an internal product switch. Phil needs to differentiate between opportunities for action and transactions that can safely be ignored to improve the usefulness of the leads he is generating.

 

Problem: False leads generated by analyzing transactions flood distribution channels with low quality leads for interventions. Transactions fragment customer behavior into multiple unrelated events. Analysis of transactions to re-assemble the parts into a coherent customer behavior is extremely difficult.
Solution: Phil started using FlowTracker customer behaviour events generated as the source of Event Triggers leads. Daily balance “snapshots” uploaded to FlowTracker SaaS are processed overnight and fed into the lead distribution pipeline. 
Outcome: Branches and the Call Center both confirmed that the reduction in leads – and the increase in quality was a welcome change for transaction trigger events. As a consequence the percentage of leads being actioned increased from 45% to 85%.

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