Anticipate the Consumer’s Needs with Personalized Offerings

Why Personalization and Anticipation Are Table Stakes in Digital Banking

Going forward, it will not be enough for financial institutions to respond to the needs consumers express. Rather banks and credit unions will be required to learn how to anticipate the needs of customers and members by offering services that meet those needs even before the consumer realizes they exist. This requirement is being driven by the practices of Amazon, Google, Apple and other digitally savvy retailers. These companies have already established this ability to personalize the experiences and anticipate the needs within their relationships to consumers as a baseline for an acceptable user experience.

Few organizations possess more information about their customers and members than banks and credit unions. Yet, accessing, utilizing and enriching this information is difficult due to the disparate, legacy infrastructures of these institutions. D3 Banking has developed D3 Insight in order to provide a different approach to how banks and credit unions can leverage enriched information about their customers and members. With D3 Insight, anticipating digital consumers’ needs and personalizing their experiences is made a reality.

Enriched Actionable Data with A Key Stroke

With D3 Insight, executives and marketing personnel at financial institutions can view a comprehensive set of enriched data and analytics that allows them to better understand the current financial needs of consumers while also being able to see potential requirements they might have for the future. The D3 Banking platform categorizes all the digital transactions of all digital customers, including aggregated data, into groups designed to give consumers and small businesses a view to their financial health without heavy lifting. D3 Insight analyzes this data across a configurable set of parameters that can be applied within the digital relationship a financial institution has with a consumer.

D3 Insight produces dashboards, reports and statistical views of the digital banking user thus allowing the bank and credit union to understand the behaviors and financial requirements of their customers and members by demographics, geography and net worth. D3 Insight includes a campaign management console that gives the financial institution the ability to target a discreet segment of users, then communicate to them offerings and products that speak to their needs – now and in the future – via email, notifications, banner ads and other channels as developed.

Examples of campaign use cases for a financial institution using D3 Insight include:

  • Driving deposits for millennials by using D3 Insight to focus on this generational segment and sub-segments.
  • Moving inventory of repossessed assets, such as cars or homes, using D3 Insight campaigns to target consumers interested in the sale of car or mortgage assets.
  • Identifying consumers who may need consolidation of debt by marketing consolidation loans to customer segments who carry high balances on credit cards and have high value assets.
  • Increasing educational savings account deposits by identifying customers with increasing purchases associated with the birth of a child or the growth of a family.

The D3 Insight solution includes intuitive navigation design, functionally rich analytics and campaign charting. Charts in the system allow the user to change the view and work with data contained in the chart. The types of charts provided include bar charts, timelines charts, pie charts, heat maps and standard location maps. All charts contain a title bar showing the name of the chart and include controls to manipulate the view of the chart.

Generation, gender, income, asset accounts, loan accounts, term of relationship, net worth and access platform (e.g., browser or device type) are some of the analytical categories provided. D3 Insight users can see a comparison between campaigns as well as the ability to drill down into singular campaigns. Campaign performance by type – e.g., email, banner ad, notification – and results – e.g., delivered, read, clicked – can be assessed in specific or general terms.

Would you like to know:
  • The level of new customer or member engagement during the first 90 days?
  • The device types preferred by your end users?
  • The level of activity and features used by specific demographic sets?
  • The net worth of your customers and members?
  • The end users who could benefit from debt consolidation?
  • The customers or members budgeting for home improvements?
  • The end users that would benefit from a mortgage refi from another institution?