Element / BFSI - Customer 720
Single Repository of Customer Intelligence and Lifetime Value
Problem :
Financial institutions often struggle with fragmented customer data spread across various systems-ranging from transaction histories and digital interactions to demographic details. This disjointed view prevents banks from accurately understanding customer behavior or calculating metrics like Customer Lifetime Value (CLV), limiting their ability to strategize and personalize experiences.
Solution :
Customer 720 consolidates all relevant customer information–behavioral, transactional, and interactional–into a centralized platform. This single source of truth empowers teams to compute CLV, analyze customer journeys, and gain a 360-degree view of each client.
Outcome :
Banks gained unprecedented visibility into individual customer value and preferences, enabling more informed business decisions. This intelligence drove improved customer segmentation, targeted engagement, and higher return on investment from relationship management efforts.
2. Proactive Retention Strategies
Problem :
High-value customers are often lost to competitors due to a lack of early warning systems that flag potential churn. Traditional retention strategies are reactive and generic, failing to address specific customer risk factors or behaviors that signal dissatisfaction.
Solution :
Customer 720 applies predictive analytics and behavioral modeling to identify at-risk customers and recommend personalized retention actions. The platform enables automated deployment of timely and relevant campaigns through preferred customer channels.
Outcome :
Financial institutions significantly improved retention rates by intervening earlier with personalized, high-impact engagement. Loyalty among premium customers increased, attrition dropped, and customer lifetime value was protected-safeguarding long-term revenue streams.
3. Cross-Selling and Upselling
Problem :
Banks often miss revenue opportunities due to a lack of visibility into customer needs, resulting in one-size-fits-all product offers that fail to resonate. Without tailored insights, relationship managers struggle to effectively cross-sell or upsell products that align with customer life stages or financial behaviors.
Solution :
Customer 720 leverages AI-driven analytics to uncover patterns in customer data, revealing timely opportunities to offer complementary products or higher-tier services. The system identifies high-propensity segments and automates product recommendations.
Outcome :
Banks achieved higher conversion rates on personalized product offers, strengthened customer relationships, and boosted per-customer revenue. Customers received more relevant, value-added services–enhancing satisfaction and deepening engagement.
4. Automated Consumer Onboarding
Problem :
Onboarding new customers remains a friction-filled process in many banks, involving multiple manual steps such as document collection, identity verification, and compliance screening. These inefficiencies cause delays, poor first impressions, and high dropout rates.
Solution :
Customer 720 streamlines onboarding by automating document verification, regulatory checks, and profile creation using AI and integrated workflows. It accelerates approval processes and ensures data accuracy across all touchpoints
Outcome :
Onboarding timelines were shortened, customer experience was vastly improved, and operational risk during the onboarding phase was reduced. The platform enabled banks to onboard more customers quickly while maintaining compliance and quality.
5. Community Engagement Insights
Problem :
Banks often fail to localize their offerings or community initiatives due to a lack of regional insights into customer behaviors, preferences, and demographics. This disconnect reduces the effectiveness of outreach and diminishes the bank’s perceived relevance in specific communities.
Solution :
Customer 720 analyzes customer data geographically and demographically to identify community-level trends, needs, and preferences. The platform empowers banks to create regionally tailored offerings and initiatives that resonate with specific local audiences.
Outcome :
Banks were able to build stronger relationships within key communities, launch more relevant products, and boost brand trust. Enhanced local engagement contributed to customer acquisition and retention at the community level, driving loyalty and long-term value.