Case Study 1
2 Case Study
Revolutionizing customer relationships for a leading US financial services company The client is a leading financial services company with ~$1.9 trillion in assets, offering a full suite of personal banking products, including deposits, cards, mortgages, auto loans, personal loans, and wealth management services.
Transforming connectivity with AI-powered customer insight for a leading MNC telecom company The client is a multinational telecom company and one of the world’s leading providers of technology and communications services, with 115 million wireless retail connections and 30 million+ business connections.
Challenge The client was tasked with enhancing the digital channel mix in their sales and service interactions with customers. Despite substantial investments in boosting digital traffic and analyzing challenges in the digital journey, the current digital sales rate fell short of the desired levels. The client aimed to investigate an AI-driven approach to delve deeper into customer challenges at scale and through automation.
Challenge The bank was experiencing passive customer churn and sought to reorient its customer relationships to build trust, drive personalization, and improve services, aiming to restore its position as a custodian of financial value rather than be merely a seller of products. However, the traditional approach of building bespoke models was insufficient due to long lead times and regulatory complexities.
Solution We designed a scalable personalization framework to deliver optimal conversations that would provide defined value to both, the bank and its customers. This framework included end-to-end modeling, decisioning, and an eligibility system, allowing more than 500 use cases to be deployed at scale. These models would determine the best time and type of conversation with customers, aiming to reduce churn, increase cross-selling, and encourage customers to self-serve by taking more products from the bank. Additionally, we built and co-developed a comprehensive automated pipeline modeling framework with the client and vendors. This framework encompassed all aspects, including Customer 360, building an enterprise-grade feature facility, an automated modeling framework, model validations for risk and regulatory approvals, and orchestration with various frontline points. Benefits We significantly reduced model development time from 4 months to just 2 weeks, marking a transformative achievement given the challenges posed by disparate data and regulatory approvals in the banking sector. Model development time reduced from 4 months to 2 weeks
Solution We developed a System of Intelligence named AIDE, recently patented in the US, that utilizes advanced AI and engineering to meticulously evaluate millions of customer journeys, pinpointing friction points and their underlying causes. Initially conceived as a proof of concept (POC) to validate the strength of AI insights, the solution was later expanded to encompass service journeys and was fully automated. The client established a digital war room equipped with TV screens displaying insights derived from the AIDE solution. Following the successful deployment of the digital friction solution, the client expanded our partnership to include additional use cases such as IVR optimization, personalized customer engagement leveraging customer DNA, optimization of care centers and call routing, AI industrialization encompassing ML Ops and model monitoring platforms, forecasting for diverse scenarios, and NLP applications for CX and complaint management. Additionally, we extended our geographic alignment to India, collaborating with teams across the US and India. Benefits • Increase in digital conversion rate with almost a billion dollars of annual incremental CLV • By making website design changes based on these findings, the provider increased online smartphone purchase rate by ~1.4 percentage points • Significant improvement in the move forward rate CSAT and annual incremental CLV.
~10% Improvement in the move forward rate
• ~10% improvement in the move forward rate
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Fractal Analytics Limited | Annual Report 2023-24
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