Banking Finance & Insurance

Banking Finance & Insurance

Application Description:

Problem Use Case

  • One of the Retail and commercial banks, operating an advanced distribution network with 85 branches, 140 ATMs, 32 kiosks, 12.000 POS’s, six web portals, internet banking and a call center; collaborated with to ensure that its payment (debit) card stayed on “Top of Wallet” for more frequent customer usage.
  • Bank wanted to ensure that its payment card stayed on top of its customers’ wallets by generating more frequent usage.
  • They wanted to leverage the power of its transaction data to decode the behavior.

Solution Provided

  • Canopus determined how to generate usage-based card clusters with one methodology.
  • We estimated the size of each customer’s wallet by a distribution and stability analysis methodology.
  • We analyzed the size and share of wallet with a cluster wide distribution of cards methodology.
  • We profiled card clusters for both size and share of wallet with a nearest-neighbour methodology.
  • Canopus determined a card user’s wallet size, share of wallet and potential to spend; and developed complex, multi-level methodology of a payment card user’s potential using the “Top of Wallet Index”.
  • Identified $3 million in incremental spend.
  • Protected $1 million POS spend attrition in the first year through a set of five customer engagement themes customized for its portfolio.

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