Gaining sales visibility and boosting performance in banking
Context & Objectives
A leading bank in Belgium was looking to offer the most relevant products and services for each client’s situation and monitor the sales performance of its agency network.
But they suffered from a lack of visibility on the clients’ relationship with the bank and their activities' intensity.
The goals of this project were threefold:
Classify its client base into segments to prioritize commercial actions
Build a common reporting tool to monitor the commercial performance of the bank’s agency network
Comply with the National Bank of Belgium requirements in terms of financial stability and active clients’ activities.
Approach
We first searched for all indicators of clients’ activity by extracting product holding data, the amounts and variability of assets on the accounts, the variation from one product to another, the renewal rate on the existing product, and socio-demographic information from databases. We also extracted the transactional information needed to establish an accurate profile of the client’s usage.
Secondly, we built a historical data mart to establish a clear vision of each client’s product possessions and types of transactions for the last two years of the relationship.
Third, we summed up each client’s assets and information, then we weighted these levels of activity to assign clients to the relevant segment.
Finally, we automated the creation of this data mart and a monthly Excel reporting on the percentage of clients in each segment, available for the entire bank’s agency network.
Results
This project achieved three results:
A standard measure of each active client’s activity with the bank to improve the offer of products and services
A unified view and better monitoring of the commercial performance throughout the bank’s agency network over the long term
A saving of millions of euros by correctly reporting the states of secured assets on the clients’ accounts to the National Bank. The ambitious bank had thus extra financial resources to support its commercial activities.
