Customer 360

As the trends around investment management evolves, there is a strong need of improved decision making which helps customers choosing the right investment product and a better service.

Role

Sr. Product Designer

Client

Synechron

Project

Innovation Lab Accelerator

Platform

Web Application

The problem

As the trends around investment management evolves, there is a strong need of improved decision making which helps customers choosing the right investment product and a better service. There are also many constraints involved potential customers faces e.g. restricted budget, lack of expertise and increasing regulatory restraints. To mitigate all these challenges, Synechron will build a solution using the strong concept called propensity scoring. 

About propensity scoring

Propensity Scoring involves getting comprehensive view of client in terms of current and past behavior, in addition to portfolio and external data. Specific algorithms can be developed to provide digital propensity score for product and customer combination. Machine learning (ML) can be directly applied to these multiple disparate data sets to identify the features and combination of features in the underlying data that predict product purchases for each product in the firm’s product catalogue. The end-result is higher conversion rates, lower sales costs, and higher revenue.

Key Features

1. Customer Portfolio Information

2. Customer Interactions 

3. Customer Documentation

4. Customer Recommendations

5. Customer 360 Dashboard

6. Product Propensity

7. Retention and Churn Management

8. Digital Propensity Scoring

9. Financial Wellness Scoring

10. External Events Propensity

The Customer 360 platform will deliver a comprehensive view of the customers that Asset & Investment Managers could quickly reference by harnessing all relevant content and marrying that with every interaction with the existing customers.

The goal here is to ensure that investment management firms reduced time spent on client inquiries and devote more time to consultations, thereby increasing customer satisfaction and identifying new revenue opportunities that expanded overall revenue share.

The customer 360 dashboard will provide the holistic view of customers and their portfolios that Asset & Investment Managers could quickly reference. The Dashboard will have the below features and information: