HDFC Bank harvests micro-moments to improve customer engagement from real-time offers| Persistent Systems

HDFC Bank harvests micro-moments to improve customer engagement and increase revenue from real-time offers

Leverages distributed architecture to manage millions of personalized offers every quarter cost-effectively.

Challenges
  • Slow turnaround times of customer onboarding
  • Slow to rollout new product features
  • Slow, manual operations, prone to data entry mistakes

The system monitors credit card transaction data from thousands of retail point of sale (POS) terminals and online channels in real-time and profiles them against customer behavior to determine the next best offer. It leverages a distributed architecture to manage millions of personalized offers every quarter in a cost-effective manner. The time to market and feedback management for an offer is reduced to hours from days and weeks, resulting in agility to adjust or experiment with new ideas in real-time.

The RTO platform leverages several components including streaming analytics, in-memory grid and distributed queue technology, built on a combination of an Oracle and open-source stack.

Transaction data is matched in real-time with customer demographics and reference data from the Data Warehouse. Pre-defined rules defined by business teams are then evaluated against this transaction and a customized offer is sent on customer’s mobile and email ID in under a second.

“We wanted to create personalized experience for our customers and thereby provide more value to them. CAPIOT helped us in building highly scalable real-time offer platform for our Credit Card customers, leveraging best of the technology stack enabling us to create customer delight.”

Shashi Mishra
Deputy Vice President – IT, HDFC Bank Limited
Outcomes

The RTO platform serves a variety of up-sell and cross-sell offers ranging from instant loan alerts to limit upgrade recommendations, plus merchant-specific offers on spends in specific categories like travel, hospitality and jewelry. The interactive SMS and emails sent to the customers enable a conversation between the brand and the consumer.

The feedback captured is used to tweak offers and improve the marketing campaign’s efficiency without IT intervention.

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You can also email us directly at info@persistent.com.

You can also email us directly at info@persistent.com