Case Study: Financial and Banking Services Provider improves customer acquisition by 17% with Quantzig customer analytics

Customer Analytics in Banking Helps an American Bank to Improve Customer Acquisition Rate by 17%

Financial and Banking Services Provider, a California-based banking giant with branches across the U.S., was facing major challenges around fraud detection, customer segregation, and weak customer acquisition. In 2018, the bank experienced nearly US$1 million in fraud activity and needed better customer analytics in banking to understand spending patterns, customer history, and high-value acquisition opportunities.

Quantzig implemented a customer analytics framework and analytics-driven dashboard to identify fraudulent behavior, profile and segment customers, and improve lifecycle management. As a result, Quantzig helped the bank improve customer acquisition by 17%, increase retention by 54%, and reduce financial fraud, saving US$25 million in FY2019, while also enabling more personalized interactions and stronger cross-selling opportunities.