Customer KnowledgeAugmentation and Activation

KEY TAKEAWAYS

Understand how to leverage customer insight.

Build an integrated and tailored E2E customer journey.

Learn more about the technology enabling Customer Value Augmentation.

WHO SHOULD READ THIS DOCUMENT?

CMO

CIO

CDO

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Drowning in Data... Missing the Gold

Leveraging Long-Lasting Relationships Insights

In the mining industry, regardless of all the technology now available, there is still

some guesswork involved. Looking at geologic traits and other indicators, miners

know where there is a good possibility of finding gold but have no certainties.

In the financial industry, however, banks and other organisations, know where

the rich ore-bearing ground is. They are seating on a proprietary, non-replicated,

or copied asset that can make all the difference in knowing customers, their

patterned behaviours, risk profile, and how they prefer to engage, but struggle to

extract the coveted nuggets.

There aren’t many industries where organisations have so much data about

customers for such a long period of time. For example, I have had the same bank

for the last 25 years which, by the way, is the same as my father’s.

My bank has been my partner when I wanted to go to university or buy my first

apartment. It knows how much I make and where I spend it, but I never truly

felt they used that knowledge to either enrich my experience or deliver tailored

offers. Why is that?

There is a wealth of value to explore in untapped customers’ financial

behaviour and banks are in prime position to reap the benefits, but they need

to adapt.

The transformation has already begun with banks introducing more channels, learning best practices from digital native banks and fintechs, and even creating new digital business models to test what works, aiming to later integrate those learnings into the core business.

Still, banks are drowning in data and have very little insight on how to transform

it into actionable knowledge to better serve customers, personalise offers, and

deliver a consistent customer experience.

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Furthermore, through segmentation, banks can use their knowledge about

current customers to define campaigns and other initiatives to fulfill one of their

main objectives, attract new customers. Their continuous appetite for growth

steams from delivering unique and innovative value propositions to current but

also future customers which today can be, in many situations, challenging.

It’s clear that very soon ‘Customer intelligence’ will be the most important

predictor of revenue growth and profitability. The use of behavioural analytics will

be key to identify customer friction points and there will be a surge in building

technological capabilities to get more insight on customers’ needs.

From risk takers, tech-savvy, and hungry for innovation customers to techavoiders that value human touch, banks must accommodate different engagement approaches and insights to differentiate customer profiles. This happens not because they don’t have the data, but because they can’t mine it.

A New Engagement Model for the Digital Age

By nature, financial products are complex and both companies and individuals

are deeply affected by their financial choices, so there’s a foreseeable need for

contact, ensuring a correct understanding of what is at stake.

Bank tellers, financial advisers, and other resources are key in accommodating

customers’ requests and providing value-added and timely information. They

benefit first-hand from customer insights, which enable them to provide not

only a better service, but also to increase the customer value by offering the best

solutions.

In addition to assisted channels, there is the emergence of self-service

applications aiming to allow customers to engage on their terms, when they

want, going as far as allowing customers to configure product features, including

pricing. If, in this case, the human factor is eliminated, the need for accuracy is

even greater, otherwise, the sale may fail or the inquiry can go unanswered.

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Customer expectations have changed mainly due to the experience from other

digital native organisations, coming or not, from the financial sector. The easy

interactions, the tailored offers, integration between physical and digital channels

or the unmatched service, creates a gap between what many financial institutions

can deliver and what customers are getting elsewhere.

Responding to the pressure to change, banks must find a balance between

opening but guaranteeing trust continues to be paramount, at all levels.

Up to this point, the perspectives presented argued for the need for banks to

not only gain insights and knowledge from the data they already have, but also

the challenge in adjusting to new customers’ demands and how they choose to

engage.

However, the biggest challenge is how to orchestrate these two dimensions and provide customers with experiences that leverage the knowledge banks have delivered in a seamless way, using whatever channel customers choose from.

The holy grail of an enhanced experience in the banking sector is to have an

holistic and end-to-end perspective of the customer experience.

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CUSTOMER

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Celfocus Customer Knowledge Augmentation and

Activation is a modular and integrated framework tailored

to leverage banks’ customer knowledge and deliver tailored

services.

This framework is anchored in 2 main modules. The first comprises the tools and

technologies to augment customer knowledge by activating every single customer through automated AI and Cognitive data insights, and the second aims at delivering tailored experiences that trigger new targets, portfolios, and customer lock.

By encompassing the Customer Value Augmentation and Enhance Customer

Experience modules, the solution provides banks’ full control of the customer

journey from planning to execution, focusing on building the technology

capabilities to get more intelligence about customers’ needs, and how to best

serve them.

Celfocus Customer Knowledge Augmentation and Activation

ENABLEscale & speed

TRIGERnew business

PROVIDEa seamless experience

Enhanced CustomerExperience

HANDLEyour data

Cognitive &Automation

TAILORyour customer

ACTIVATEmeaningful insights

Customer ValueAugmentation

BusinessAutomation

CustomerTouchpoints

Open Banking

SmartCampaigns

Machine LearningEngine

Smart CampaignsManagement

Automated Products Portfolio

Robotic Process Automation

Business ProcessManagement

API Monetisation

API Management

Systems Decoupling

Home & MobileBanking

Customer ValueOptimisation

Customer Journeys

Automated Document Classification

Automated Transactions Classification

CustomerInsight

Customer Hologram

Customer Profiling

AutomatedDocument Parsing

CUSTOMER VALUEAUGMENTATION

UNLOCK DIGITALTRANSFORMATION

ENHANCED CUSTOMEREXPERIENCE

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Customer Value Augmentation

CUSTOMER VALUEAUGMENTATION

CUSTOMER INSIGHT

Giving a meaning to massivevolumes of data, transactionsand documentation

Fast Data Access and Data Profiling based on Machine Learning patterns. Enables tailored user experiences o�oading Core systems data demand.

SMART CAMPAIGNSIntegrates Customer Profiling into Product Portfolios, activating pro-active and tailored campaigns based on profiles and behaviours.

88%EFFORT REDUCTIONof document classificationactivities on a US Tier 1 bank

ESTIMATED REDUCTION OFCALLS TO THE CORE SYSTEMof a Saudi Arabia Tier 1 Telco.

85%

OF PRODUCT CAMPAIGNSacross customer channels are

BEING AUTOMATEDON A TIER 3 TELCO.

93%

CUSTOMERHOLOGRAM

CUSTOMERPROFILING

MACHINELEARNING ENGINE

AUTOMATED PRODUCTS PORTFOLIO

SMART CAMPAIGNSMANAGEMENT

COGNITIVE & AUTOMATIONAutomated AI and ML systems that accurately extract, classify and deliver large volumes of data with minor human intervention.

AUTOMATED DOCUMENTCLASSIFICATION

AUTOMATEDDOCUMENT PARSING

AUTOMATED TRANSACTIONSCLASSIFICATION

Using advanced AI and ML algorithms, the solution empowers banks to look at

customers from a different stance. It can be used in a wide array of solutions to

improve customer lifetime value and optimising the sales of financial products.

Using the same data, banks can understand what attracts some segments and

drive them to act and others to leave. This knowledge offers an opportunity

to target the in-danger segments with motivating offers and products, thus

reducing churning.

Never like today could Mass Customisation be achieved. Microsegmentation

enables more precision in the type of offers proposed, but also additional

agility on how those offers are delivered, through a robot advisor or reacting

immediately to a customer behaviour (like proposing insurance when renting a

car or alerting customers of higher-than-average spending patterns).

Still, generating insights have very little value, if they aren’t actionable. Celfocus Cognitive Automation solutions ensure customer activation through automation, managing complex and diverse smart campaigns.

Investing in retention, intelligent engagement, and nurturing loyalty are key to

transform the customer experience. Banks have a unique advantage to explore

these dimensions.

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Enhance Customer Experience

Celfocus Customer Knowledge Augmentation and Activation framework

automates and orchestrates back office processes leading to shorter turnaround

times, faster answers, and transaction transparency, thus providing better service,

regardless of the channel used.

It looks at the journey from a holistic perspective, breaking organisacional

transational and data silos, putting the customer at the realm of the experience,

and building the response around it. Customer experiences are vastly improved

with automation, from onboarding, product acquisition or service benefits,

both at the assisted or self-service level.

With the plethora of interaction touchpoints available, customers don’t really

care which one they use but they are keen on having the same consistent,

context-based and customer-oriented experience, from the moment a customer

visits the website, engages with a customer service representative or visits a store.

Banks must focus on two different axes when it comes to

their engagement strategy. On one side, provide access,

from reinforcing assisted services response, supported

by empowered front-line resources, to develop its self-

service capabilities. To provide meaningful experiences,

banks must remove friction and deliver value in

each interaction. Open banking is one of banking’s

transformation levers. A business model, framed by

the European directive on digital payment services

PSD2, which defines how data can be exchanged in the

financial ecosystem and a driving force for innovation.

Celfocus Customer Knowledge Augmentation and

Activation framework delivers an open banking platform

to integrate with the bank’s ecosystem through secure

and monitored API’s, thus enabling the emergence of

new business models, improving digital agility, multi-

industry collaboration, and overall customer satisfaction.

ENHANCED CUSTOMEREXPERIENCE

OPEN BANKING

Digital enablers leverage the business to new scale, models and experiences

Continuous solutions delivery, through secureand monitored APIs. New o�ers and bundles are activated by a flexible monetisation process.

CUSTOMER TOUCHPOINTSMaximising Customer engagement through highly personalised and integrated journeys across multiple customer touchpoints.

96%TIME SAVINGtime saving was achieved withRPA in a timesheet process of1.000 employees on a Tier 1 SIin Portugal.

MONTHS from Project kick-o� to 1st invoicewas our delivery time-to-marketon a central Inter-Banking entity.

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CUSTOMER SYSTEMSINTEGRATED under a single unified frontendon a tier 1 telco in Ireland.

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API MANAGEMENT

API MONETISATION

SYSTEMS DECOUPLING

HOME & MOBILEBANKING

CUSTOMER VALUEOPTIMISATION

CUSTOMER JOURNEYS

BUSINESS AUTOMATIONEnables a scalable back o�ce, through automated events and actions. Activates processes e�ectiveness and a seamless user experience.

ROBOTIC PROCESS AUTOMATION

BUSINESSPROCESS MANAGEMENT

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Unlocking Digital Transformation Through an Innovate Delivery Approach

Over the last 30 years, Celfocus has worked with customers across the globe,

incorporating the latest technological trends and delivery methods to better

serve customers.

A company driven by a strong engineering backbone and human-centric

innovation capabilities, Celfocus helps companies carry out their vision and

transform their business by leveraging next-generation technologies and

multi-disciplinary agile teams.

With extensive hands-on experience in critical information systems, we know that

delivering successful projects requires knowing how to minimise risks and that

is why Celfocus’ approach to deliver innovative solutions is based on solid Key

Architecture Principles, Reusable Components, and Service Design approach.

Celfocus’ success was built by working in partnership with customers by

delivering:

Nearshore Capability - experience in multi-location

models with delivery team located in Europe.

Non-Intrusive Solutions - Our solutions enrich the

Client’s IT landscape without major transformations

on Core systems.

Test Automation & Engineering - Quality Assurance

assets speeding up delivery and leveraging Client’s

capabilities & autonomy.

Multi-Industry Experience - Predictability and

reliability through a wide range of multi-industry

knowledge and lessons learned.

Agile & DevOps Delivery - Collaborative and joint

delivery approach focused on Customer value and

Business time-to-market.

ACTIVATEProject setup &organisation activation

BUILDSolution foundationsdelivery

Handover

Inception

Knowing yourlandscape

Activate jointorganisation

Project Management Delivery Governance Solution framework readiness Solution Go-Live Handover to Continuous Delivery

Project Management Teams ramp-up / ramp-down Customer Success Management Governance & Reporting Continuous Knowledge Sharing Continuous Product Increments Operation in Production

KICKOFF

Solution Pillarsare ready

End of service notice

Handover toClient’s team

Unplugservice

Minimum Value ProductContinuous Collaborative

Delivery & Operation

EVOLVE & OPERATERoadmap delivery & utilisation by customers

About Celfocus

Celfocus is a fast growing, global high-tech company with a reputation for developing and implementing successful projects and solutions that drive business value.

By combining a deep business knowledge with the understanding of different technologies, while never losing sight of the customer experience, Celfocus built a reputation leveraged on an unexcelled track record.

Serving Clients in 25+ countries, Celfocus helps organisations transform their business in order to improve competitive positioning and ultimately their performance.

For more information about CELFOCUS, please visit our website

www.celfocus.com

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