Make better use of your data. Or connect with subjects from other sectors, realise joint campaigns and thereby monetize your own data.
Banks own enormous amounts of data relating to their clients and their property, which can become a valuable source of information for companies from other sectors. Join forces, and instead of the complicated creation of new communication and sales channels, monetize the data you have – in an anonymized manner, in accordance with our legislation.
Examples of data monetization
- Transactional behaviour – information from the description of individual bank transactions involving deposits and expenditure allows you to map your clients' lifestyles and recognize important life moments (e.g. furnishing their household, childbirth, planning a holiday, buying a car etc.). Understanding your client will enable you to better offer products, whether thanks to relevance or their timing. Don't just offer your services and products – connect with your business partner and increase your profits.
- Client solvency – information about the fulfilment of your client's obligations to their telecommunications operator can be a valuable resource, for example for insurance and leasing companies which can better evaluate the risk when providing their services.
- Credit requirements – information about client behaviour on your business partner's website can lead to the provision of credit. Make use of it.
- Client creditworthiness – do you know what your client is buying, or what they own? Then you can calculate your client's creditworthiness, and better target your sales strategies. This knowledge can be used not only by you, but also by your partner from another sector (retail, manufacturing etc.).
The effective utilisation of client behaviour data is an excellent basis for contextual communication, personalised offers and micro-campaigns.
According to research, monetization of own data brought about a 1-2% increase in banks' total annual profit (Accenture). But the potential is much higher.
As a third party, we can connect both parties' portfolios, and analyse the client's typology which is interesting for all the participants. The actual data monetization will take place completely securely, and fully in accordance with the applicable legislation. We work only with anonymized data, over which we will display clearly defined business use cases.
During the effective mining of banking data for event-driven marketing campaigns, the conversion rate is up to 12 times higher. (Adastra client case)
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