Case sharing: A bank uses these 20 things to achieve digital transformation

1. Project background

With the refined operation of the bank’s business, business activities Gradually transforming from batch to interactive, personalized and scenario-based methods, more and more banks are using data to build their own precise marketing channels and scenarios. A certain bank's retail division hopes to make a breakthrough as soon as possible under this trend. Current situation, building digital solutions to combat competition and customer churn.

2. Pain point analysis

The retail business department of a certain bank is currently facing two major problems. On the one hand, it comes from customers, and on the other hand, it comes from competitors.

Customers' expectations of banks have changed. They hope that banks can provide customized services and improve service collaboration, convenience, consistency and control.

At the same time, competitors are actively using digital innovation to redefine value creation to better meet neglected or unmet customer needs. This has resulted in the phenomenon of different banks in the same area using digital technology to seize local customers.

In addition, the senior executives of the bank’s retail division have little understanding of digital intelligence, lack of knowledge on how to realize the digital transformation of the bank, and are even at a loss, even if they spend a lot of money. The money did not achieve the desired results.

3. Solution

Faced with these problems and challenges, the bank joined hands with Guoyun Data to customize a solution for the bank's retail department to cope with its own development.

Step one: Through a comprehensive survey of the bank, Guoyun Data helps it create six major maps including strategy, business, demand, application, algorithm, and data, thereby helping it find the crux of the problem.

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Step 2: After determining the strategic map, transform the strategy into 20 things that can be executed. Doing these 20 things well means that the transformation is basically successful, so that Business units have a clear sense of purpose.

(1) Build a new retail digital middle platform. Open up personal finance, mutual finance, CRM, data warehouse and external purchasing of third-party data, government data, and Internet data;

(2) Establish new retail users, establish data asset pools such as products and outlets, and establish new Retail data organization enables self-service data analysis and improvement, greatly improves operational efficiency, and makes data visible and usable.

(3) Establish a data-driven operation system;

Refined operation: user grouping; portraits of key customer groups: different operating strategies and methods for different customers such as middle-aged and elderly people, commercial loans, parents and children;

Stock operation: increased contribution of users who pay wages on behalf of others. Create user portraits for payroll agency users and conduct intelligent cross-selling

(4)? Product recommendation: Establish a differentiated customer tiered marketing service system, locate and focus on key strategic customer groups

(5)? Improve customer management and service capabilities, achieve value enhancement through in-depth operations, improve the ability to recover lost customers, and use big data technology to establish an efficient customer churn early warning system to achieve early warning, prompts, and reminders for early recovery and automatic recovery

(6)? Create customer portraits. Establish NetEase Loan customer acquisition model and risk model, and automatically and intelligently screen personal loan customer whitelists

(7) Establish a customer fission system. Achieve high-quality customer fission through customer recommendation, draw portraits of the main recommended customers and the relationship chain of the main recommended customers, realize one-click recommendation, and reward the recommendation;

(8) Establish a competitive intelligence system. Monitor the dynamics of competitors and competing products in real time to help more reasonable and real-time pricing adjustments, formulation of marketing strategies, adjustment of popular products, product portfolio recommendation strategies, etc.;

(9) Financial management users. Expand the scale of financial management users, establish a precise customer acquisition model, strengthen wealth management, accelerate the expansion of credit cards, and enrich the wealth management product line.

Use technical models to achieve accurate customer acquisition models, accurately recommend potential whitelists for financial management to front-line employees, and create real-time dynamic portraits of wealth management customers to allow front-line employees to provide customized, personal, and consulting-oriented marketing service models;

(10) Promote a refined sales management system, establish regular inspection and supervision of the head office, branches and branches, and achieve militarized target management;

(11) Create a new retail headquarters digital operation and command system: guided by strategic goals, sort out detailed key indicators of the business, operate in full-link closed-loop, and achieve real-time dynamic management and control of refined operations;

(12) Real-time warning: adjust the digital management of branches and retail head offices The system, according to the head office strategy, can issue tasks to the system in real time;

(13) Outlet portraits: Realize outlet digitization, operating status, and health index analysis, guide outlet optimization based on outlet portraits, and rank different outlets , learn from each other, and share experiences;

(14) Promote offline channel optimization: establish an outlet site selection system to provide personalized and accurate site selection plans, establish an accurate recommendation system for whitelisted users around the outlets, and based on internal and external Accurately acquire users with data and make outlets more accurate;

(15) Implement digital customer management for front-line sales staff;

(16) Iteratively innovate online channels: establish a mobile banking terminal The end-to-end customer behavior tracking system guides the optimization of mobile banking and provides conversion rates in every environment from user login to conversion;

(17) Based on data analysis and precise marketing recommendations: recommend the results to mobile banking, The customer service center is transformed into an important online channel, undertaking marketing and customer management functions, and becoming a semi-profit center;

(18)? Integrated online and offline operations: accurately locate high-potential customers online and provide offline push, offline outlets attract customers to online virtual stores, transforming from single, isolated channels to integrated channels;

(19) Frontline empowerment system: using data analysis, customer recommendations and sales Encourage automated process management, build high-capacity, professional frontline teams to achieve digital performance, and let every employee know today's actions, the income earned by the actions, and the income status;

(20)? Number Intelligent user management system: Allow frontline employees to clearly see the dynamics of their customers, implement repurchase reminders, automatically customize plans and other solutions.

Step 3: Based on these 20 things, quickly help the bank’s retail division build a digital platform for the department, including a data center, an intelligent marketing cloud platform, etc., and work closely with the bank’s technology department On the one hand, it quickly met the needs of the retail department, and on the other hand, it avoided the situation of heavy investment and insignificant results in the past, and achieved the set goal with 20% of the budget. At the same time, various levels of digital transformation course training were conducted for senior executives and middle-level personnel in the bank's retail department to help them quickly understand the methodology of digital transformation and related implementation paths and products.

4. Final effect

Through the construction of data middle platform, the bank solved the problem of repeated reconstruction due to traditional methods, large investment in each chimney, long construction period, and inability to respond to business quickly, etc. problem. Help banks deepen customer operations, enrich products and services, promote comprehensive marketing, and accelerate channel transformation. The cost of acquiring new customers has been reduced by 5 percentage points compared with the past. At the same time, tens of thousands of lost customers have been restored, easy conversion between different channels has been achieved, and preliminary annual statistics have reduced investment and personnel costs by 5 million.

5. About Guoyun Data

Guoyun Data Group was established by the original Alibaba Data team to provide customers with digital transformation services in an original "digital transformation partner" approach. The company is also a supplier that can provide customers with a three-in-one comprehensive and high-standard digital transformation comprehensive service of "strategy + technology + talent".

Guoyun Data’s original digital transformation methodology guides customers’ digital transformation implementation. This methodology has recently been derived into "Digital Transformation Methodology: Implementation Path and Data Middle Platform", published by Machinery Industry Press. The author is the founder of the company Centaur Ma Xiaodong, the book is now on general sale. "Digital Transformation Methodology: Implementation Path and Data Middle Platform" is a work that comprehensively explains the enterprise digital transformation methodology from the four dimensions of strategy, technology, talent and management. It is a summary of the experience of more than 70,000 enterprises served by Guoyun Data.