Solution Brief
Become a Customer-First Retail Bank
in the Digital Age TCS Customer Intelligence & Insights for Banking
About Digital Software & Solutions (DS&S)
BACKGROUND
Digital transformation has changed the landscape for retail banking. New digital technologies, increasing customer expectations and emerging agile competitors are making it harder for banks to attract, retain and grow today’s digitally empowered customers.
They increasingly want their financial institutions to provide connected experiences, such as helping to secure a home, rather than selling a mortgage.
Our point of view is that for banks to thrive, they must understand and engage with customers in more meaningful ways that address holistic goals with timely contextual offers and personalized service. Instead of reacting only to transactions in customer journeys, banks need to shape those journeys and deliver greater value in context to the customer's goals and situation. We help banks
dss.tcs.com
Tata Consultancy Services' Digital Software & Solutions Group is part of one of the world's largest IT Solutions firms. Our experience delivering consumer-focused digital transformations to the world's most successful organizations has informed the development of our portfolio of products for the retail, banking, communications and smart-city sectors.
Connected Consumer Intelligence™.accomplish this by enabling them to create
TCS Customer Intelligence & Insights for Banking Solution Brief
2 | P a g e
Success hinges on finding and onboarding your ideal customer before your competitors do, and then on anticipating and adapting to changing customer needs throughout their connected experiences. But
customer-centricity alone isn’t enough. Given that yields are declining, regulatory pressures are increasing and profit margins are squeezed, banks need to accomplish these tasks while minimizing operational costs.
Product Overview Tata Consultancy Services' (TCS') Customer Intelligence & Insights (CI&I) for Banking is built to improve the customer experience with deep analytics, decision-support and operational intelligence. CI&I for Banking is advanced analytics software with out-of-the-box use cases for customer, marketing and operational analytics. Utilizing the underlying platform, users can develop additional use cases for all their analytic needs.
CI&I for Banking uses analytics to derive insights from customer data, helping you understand customer needs and predict the best form of interaction across all physical and digital touch points.
CI&I for Banking is designed for the business user. As afully integrated software solution developed by industry experts, CI&I for Banking combines 360-degree customer visibility with behavior and propensity modeling, persona discovery, segmentation, scoring and customer product journey tools to deliver insights and analysis. Customizable KPI-based alerts and system generated next-best-offers help engage customers and deliver personalized experiences. Banks can optimize on-boarding journeys, retain and sell more to current customers, attract and acquire new customers and drive operational efficiency. They can identify and capitalize on opportunities faster and provide superior experiences at every point of customer interaction.
CI&I for Banking lets users access and analyze their data quickly, reducing reliance on IT. It is built around a modular architecture and runs on the low-code TCS CI&I Banking Platform – a big data analytics platform designed to deliver Connected Consumer Intelligence™. The CI&I Banking Platform enables users to build and leverage their own analytics models to develop and operationalize additional use cases. It includes advanced analytics, machine learning, a rules engine and banking data models, all built with open source components and a broad set of APIs and data connected for easy integration to other production systems and apps (such as CMS, CRM and marketing automation tools).
Key Features and Capabilities CI&I for Banking includes extensive features to helpusers perform advanced analytics across all of their key data sources, develop intelligence about customer opportunities and engage them with personalized journeys that deliver superior experiences.
• Customer 360: Detailed insight into each customer’sprofile, accounts, activities, offers, preferences, loyaltyinteractions and selling opportunities.
• Customer Base Analysis: Holistic perspectives of the entirecustomer base, or segments, including profiles,preferences, activities, KPIs, product white space,responses to offers, etc.
• Digital Persona Discovery and Analysis: Automatic andcustomizable persona discovery of your mostdifferentiated customer types.
• Behavior & Propensity Modeling: Insights into productaffinities, future customer behaviors and propensities.
• Customer Product Journey Experience: Visibility andtracking of customer on-boarding journeys and metricsacross product mix.
• Next-best Offers/Next-best Actions: Model-drivenrecommended actions and offers for retention, upsell andcross sell opportunities.
• Event-based Marketing: Perform personalized marketingby configuring and tracking customer financial and lifeevents for segmentation and reporting.
• Customer Segmentation: Customizable customersegmentation capabilities for exporting targeted customerlists for marketing.
• Operational Dashboards: Wide range of reports anddashboards for tracking operational metric.
• Alerts and Notifications: KPI and rule base alertframework for customer experience and product journeys.
• Service Request & Complaint Analysis: Visibility into andanalysis of customer service metrics.
• Call to Action: Configurable calls to action for notifyingfront-line systems for managers, tellers and call centers ofrecommendations for targeted actions and offers to driveimproved customer-centric operations.
TCS Customer Intelligence & Insights for Banking Solution Brief
3 | P a g e
Business Use Cases
CI&I for Banking uses advanced analytics and decision rules to uncoverdifferentiated buyer personas and develop customer segments.The software enables banks to deeply understand customer goals,propensities, product affinities and actions with extensive dashboards,reports, a rule and KPI-based alert framework and product journeymanagement with next-best-action functionality. Banks can focusthese capabilities on stimulating sales of home equity, auto and and education loans; retirement products; credit cards or productbundles. They can enhance loan on-boarding journeys, personalizeservice levels and reduce attrition. And they can streamline
customer facing operations.
Increase marketing efficiency and impact with better targeting:
CI&I for Banking can perform principal component analysis across all
levels of data maturity and customer attributes to create rich
customer personas with deep visibility and insights about
sentiments, propensities, product affinities, interactions and selling
opportunities. Use these to gain a deeper understanding of your
audiences and generate persona-based segmentation lists for more
targeted marketing.
Increase cross sell and upsell across customer base with
personalized offers and experiences: View detailed customer profiles, dashboards and reports with
predictive insights about next-best-offers. Customer experience alerts let you understand when and a why
customer, or a group of customers are having a service issue, applying for a loan or taking the next step in a
key process.
Business Benefits
Helps banks attract, retain and
grow customer accounts through
better understanding, engagement
and experience across all physical
and digital channels. CI&I for
Banking provides the insights
needed to redefine the banking
experience, increase the
effectiveness of marketing
initiatives and streamline
customer-centric operations.
• Differentiated customer
acquisition with rich persona-
based marketing
• Deeper understanding of
customer goals, sentiments,
propensities and affinities
• Operationalized calls to action
and recommendations to
front-line systems and
stakeholders
• Reduced customer churn,
increased loyalty and larger
share of wallet
• Improved customer
experiences across connected
customer journeys
• Short time to value with pre-
built analytics, open-source
architecture, IoT-ready
integration and industry-
specific dashboards, on an
extensible data analytics
platform with simple API
integration to other production
systems and applications.
Figure 1: Dynamic customer segmentation
TCS Customer Intelligence & Insights for Banking Solution Brief
4 | P a g e
Figure 2: Examine customer profiles and scores
Figure 4: View product performance by geography and other demographics
Figure 3: See all customer scores together
Figure 5: Select from a wide range of banking reports and analysis
TCS Customer Intelligence & Insights for Banking Solution Brief
5 | P a g e
Figure 6: Create customer product journeys to drive cross sell and upsell Figure 7: Create process and sub-processesFigure 8: Select KPIs for alert setup
CI&I Banking is built on a scalable foundation that readily integrates into existing IT environments. It is built using
open source components such as Apache Spark and Hadoop and leverages industry-standard protocols such as
PMML (Predictive Modeling Markup Language)
Figure 6
Figure 8
Figure 7
TCS Customer Intelligence & Insights for Banking Solution Brief
6 | P a g e
Awards & Recognition
All content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content / information contained
here is correct at the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded, transmitted,
posted or distributed in any form without prior written permission from TCS. Unauthorized use of the content / information appearing here
may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties.
Copyright © 2019 Tata Consultancy Services Limited
About TCS Digital Software & Solutions GroupTCS Digital Software & Solutions Group delivers on the promise of Connected Consumer IntelligenceTM.. Our experience working with the world's most successful enterprises drives the development of integrated software that helps them meet the higher expectations of today's wired consumers and citizens. With TCS DS&S Group software, organizations can design experiences that logically connect every touch point of the consumer's digital and physical journey.
To learn more:
Visit : dss.tcs.comEmail: [email protected]: Catering to the Connected Consumer
About Tata Consultancy Services Ltd (TCS)Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery ModelTM , recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has a global footprint and is listed on the National Stock Exchange and Bombay Stock Exchange in India.
For more information, visit us at www.tcs.com
IT ServicesBusiness SolutionsConsulting