CHALLENGE Traditional banks, facing stiff competition from neobanks, are scrambling to boost sales and increase the lifetime value of their current client base. One strategy is leveraging digital communication channels to connect with customers. However, traditional banks are struggling to keep up with the ever-evolving customer expectations in a digital landscape. Reaching customers with the right message at the right time through their preferred channels is becoming increasingly difficult, leading to declining customer engagement and loyalty, ultimately impacting sales.
SOLUTION AlumniHub developed a suite of AI-powered solutions to address the mentioned challenges:
Customer Insight: A personalized communications distribution system that helps banks increase customer engagement in digital channels.
Omnichannel Optimization: A system for optimizing omnichannel communications with customers.
RESULT
4% Sales Growth: Achieved a 4% increase in sales of banking products and services.
35% Increase in Transactions: Noted a 35% increase in the number of transactions in the mobile application.
55% Increase in Conversion: Observed a 55% increase in conversion upon opening.