BFSI

Increased campaign conversion rates by 2.4x to 4x resulting in 72% increase in new card issuance

Challenges
The client is a leading regional Asian bank with over 10M retail banking customers. They wanted to expand their credit card business. They lacked a systematic and quantitative framework to acquire customers for credit card services based upon their customer footprint at a lower cost.
Solutions
An end-to-end customer acquisition solution was built, including the following components: Customer Propensity Model and segmentation, Customer Value Model with customer pre-credit decisioning risk criteria, a stratified business implementation strategy layer to match customer profile and journey with different touchpoints, channels and frequency was developed.
Outcomes
Up to 4X
increase in conversion from marketing campaigns
72%
increase in number of cards issued
20%
lower cost of card issuance
ElectrifAi’s solution achieved 4X and 2.4X conversion rate improvements in telemarketing and SMS campaigns respectively. There was a 72% increase in the numbers of cards issued, with a lower 20%-unit cost of issuing cards.