A large credit union was trying to increase the utilization of products and services offered. Trianz was engaged to develop a recommendation engine for advising financials products to the customers.
Business Challenge
A large credit union was trying to increase the utilization of the products and services offered.
Technology Components
Microsoft SQL server, R programming language
Approach
Trianz met the advanced analytics group at the credit union to determine their goals and how they can complement their current infrastructure and analytics capabilities.
After determining the available data and the goals of the credit union, we suggested to build a recommendation engine that can be used by all credit union employees to suggest products and services when interacting with customers.
During the six-week engagement, we developed and operationalized a recommendation engine.
Transformational Effects
An additional $30 million in revenue was attributed to the recommendation engine along with a good customer reception for the product and service recommendations. It ultimately resulted in additional revenue and more satisfied credit union members.
