Sold by: EXL
EXL™ Transaction Insights offers a one-stop solution for mining deep insights from bank data. Built on EXL domain experience, analytic prowess and engineering expertise, the solution extracts deep customer insights such as strength & stability of their income, obligations, financial ecosystem and preferences. This helps financial institutions with a holistic 360-degree view of a customer assets and liabilities that can be leveraged across risk, marketing, and product design use cases to improve customer experience and strategies across the complete life cycle.
Overview
EXL™ Transaction Insights enables financial institutions to significantly enhance their understanding of customer risks, needs, and preferences. The AI-based solution mines every data element from bank account transaction description to extract the maximum information present within. Solution then enriches this information with additional context using an industry-leading metadata layer based on more than 15 million records from our partnerships with commercial bureaus as well as significant investments in curated vertical lists. The solution also identifies recurring transaction patterns over time, thereby build an understanding of intent behind these transactions. This becomes the building block to categorize transactions in over 300+ categories and develop 2000+ rich, predictive and custom attributes about each customer. These attributes can be directly plugged-in to solve use cases across risk, marketing, and product strategies.
Highlights
- Enhance credit risk /probability of default models: Enhance risk assessment utilizing attributes across cashflow, customer financials, recurrence patterns, and risk triggers which can be used standalone or as a supplement to credit bureau data to comprehensively assess customer creditworthiness. Debt capacity evaluation: Analyze customer income/revenue, their expenses, and debt obligations.
- Enhance customer experience: Enable/increase instant decision rate as well as automate income verification process while onboarding a new customer through our real-time secure APIs to provide a seamless customer experience. Wallet insights: Understand customers financial ecosystem, tradelines, existing product basket, share and usage in customer wallet. Leverage the solution insights to grow your share of wallet.
- Increase pre-approval and cross-sell campaign effectiveness: Leverage customer behavior, engagement, and wallet insights to enhance customer response models and customize marketing campaigns.offers, and next-best actions. Boost collections: Help understand the possible risk factors behind the credit event w.r.t. ability and willingness to pay, forecast future cash flows & identify right time for customer contact to improve the overall collection process
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United Kingdom and Europe St Clare House, 30-33 Minories, London, EC3N 1DD T +44 (0) 207.767.3500
United States (Global Headquarters) 320, Park Avenue, 29th Floor, New York, New York 10022 T +1 212.277.7100 F +1 212.277.7111
Contact Us: transaction.insights@exlservice.com