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success story

Virtusa Improved Lifetime Value via AI-Led Next Best Action Up- and Cross-selling for a Large Global Bank

The Challenge
  • Managing a large number of SMBs to maximize lifetime value was quite challenging for the bank
  • SMB customers typically had high churn rate
  • Timely activation and retention action need personalized context driven action
  • Collection with high operations cost
  • SMB Financing opportunity estimated at $2.6T
The Solution

Virutsa leveraged AI technologies to detect lifecycle and macro-economic events for SMBs, enabling:

  • A unique approach to combine knowledge driven, context-based (events, life stage, current relationships) and micro segmentation's collective behavior to derive recommended actions
  • Optimization between lifetime impact of the action (and possible downstream all opportunities) and a chance of acceptance of recommendations
  • Micro-segmentation of customers for very focused recommendations
  • Feedback-based auto tuning to re-calibrate recommendations
The Solution
The Benefit
  • Customer Experience
    • The bank started creating unique personalized experiences for customers per their needs
    • The bank improved customer loyalty via tailor-made recommendations
  • Revenue Generation
    • Lifetime value of customers was prolonged through upsell/cross-sell, retention and activation opportunities
  • Cost Reduction
    • Reduced sales and marketing costs
    • Reduced cost of activation and retention
    • Timely action causeg reduction in collection cases
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