Banks, with a deep understanding of their customers’ needs, play a vital role in their lives. They provide personalized solutions tailored to individual requirements, ensuring customer satisfaction. Whether it’s offering flexible account options, customized loan terms, or personalized investment advice, banks try to meet the unique financial goals and aspirations of their customers.
By actively listening to customer feedback and continuously innovating their offerings, banks ensure they stay aligned with the evolving needs and preferences of their clients. Meta data, like market trends and branch insights, helps in seeing risks, but also in capturing sales opportunities earlier than competitors could.
Blenddata was asked to extract customer information from several public systems, such as stock information, forecasts on liquidity and news information. This data collection should be optimized for a banker to increase the value they bring when contacting the client. All the information gathered should be generally available within the bank on their own single source of truth data platform.
We created and engineered multiple data pipelines that automatically match publicly available data with a uniform customer definition. This information can be used across dashboards, internal applications and custom-made apps.
Publicly available data typically falls outside the scope of personal data, as it is information already intended for public consumption and does not directly identify individuals. Therefore, it is not considered a violation of the General Data Protection Regulation (GDPR).
The outcome of the project is improvement in the acute events that happen around a customer. Targeted marketing has been optimized, and it has enhanced personalization: The bank can tailor their communication and offerings to align with customer needs, delivering a more personalized experience and create targeted marketing campaigns that are more likely to resonate with the intended audience, resulting in higher engagement and conversion rates.
On top of that, we created competitive advantage: analyzing industry data, customer reviews, or market trends, we identified gaps in the market and uncovered new opportunities.