Shanghai Commercial Bank (SCB) has selected IBM’s behavioral analytics solution to improve its digital banking strategy.
The behavioral analytics platform, built by Built by IBM and partner ICO Technology, is the first such platform deployed in Hong Kong.
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The platform includes IBM InfoSphere Biglnsights, IBM DB2, IBM DataStage, IBM Cognos, IBM UNICA, IBM Power 8 for AIX, and Power 8 for Linux.
The technology will help the bank gain a better insight on its consumer banking and SME customers, which in turn will help it create personalised e-banking services and marketing campaigns, according to IBM.
The platform will gather behavioral data from the bank’s internet portal and its Facebook fan page, and combine it with the bank’s internal transaction data and customers’ portfolios. The data will offer meaningful insights on customer needs which can be utilised by the bank to offer personalised and automated marketing campaigns using IBM UNICA.
The bank also intends to leverage the platform to accumulate behavioral data from other social networks including WeChat and Taobao in the future, the technology vendor added.
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By GlobalDataSCB chief of information technology & operations & alternate chief executive Burton Cheng said: "Giving us an accurate understanding of customers’ behavior and changing needs, the integrated data and the new insights will help us create personalized, targeted campaigns, and develop tailored offerings to satisfy those changing needs of our mass affluent or tech savvy customers. As a result, we expect to build sustained relationships with our customers and expand our market share year-on-year."
