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Banking, Financial Services & Insurance

The digitization of finance has endowed plug-and-play technological flexibility onto banks and financial services (BFS) organizations. Data proliferation and the viability of big data analysis followed. Much of the generated data, however, often sits idly in storage servers until a discerning CxO becomes aware of the gold mine and looks up big data analytics to secure robust ROI on his/her data assets.

At Impact Analytics (IA), our approach to the BFS sector starts with an infusion of data into the three most important buckets - revenue generation, cost-reduction, and risk mitigation. We lay the groundwork for a financial institution to access data-backed intelligence that can guarantee maximum business impact. Our products successfully identify high-value, risk-worthy prospects by gauging contextual basics of individual customers. Our stress-testing technique identifies assets with greater risks and helps initiate corrective measures in time.

For BFS customers, advanced and predictive analytics are now a vital appendage to descriptive analytics. Predicting the financial customer, product and channel of the future has become a business imperative. Our advanced customer lifetime value models predict the next most likely product to be purchased by a BFS customer, powering near-end applications for internal marketers, whilst also equipping the front-line to make the most relevant offers. Our models demonstrate that when every customer touchpoint becomes instant, intuitive, and personalized, it germinates longstanding customer loyalty. Overall, IA’s clever financial analytics facilitate sustained profit growth and ensure long-term solvency.

Since the BFS industry runs on people’s money and extremely sensitive customer data, regulation under strong regimes and laws are a part of the parcel. IA has developed region-specific compliance frameworks. We also have a continuous-compliance monitoring software that reduces, both, the cost of regulatory compliance and the risk of non-compliance.

IA’s engagement with a micro-finance company (MFC) helped the latter reduce their overall collection process time by up-to 50%. We monitored their collection operations and studied their customers’ repayment behavior. By analyzing specific metrics of collection meetings, IA was able to create customer risk profiles and assign risk scores to the loan portfolios. By doing so, IA pre-empted payment defaults, enabled preventive actions, and we eventually helped the MFC reduce toxic loans.