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“ Being able to digest big data in order to understand customer trends and needs is the first step , then finding the right technology provider to support these needs comes second .
“ For example , banks are increasingly losing their customers to fintechs for crossborder payments ; if banks want to keep up , they need to team up with a low-cost crossborder payment provider to compete .”
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Personalised customer experience But how can companies ensure a personalised customer experience if the only point of contact with the customer is through technology ? Some experts believe the answer lies in better technology and the collection of data .
John DesJardins , CTO of
Hazelcast , the fast-cloud application platform based in Silicon Valley , explains , “ Real-time machine learning ( ML ) is the key to ensuring the personal touch in a digital world . With realtime ML , you can create AI-first autonomous experiences where personalisation is driven by [ the ] depth of data about the customer and their needs and interests .”
This also opens up new possibilities to dynamically and autonomously present relevant , meaningful , and valuable offers to the right customers at the right moment – the moment of interaction , says DesJardins , referencing the success of BNP Paribas Bank Polska .
Using real-time enabled responsiveness from existing banking infrastructures , BNP Paribas Bank Polska increased personal loan offer conversions four-fold – including the promotion of loans to customers whose low account balance has stopped them from getting their cash via ATM .
According to DesJardins , the bank ’ s IT team used Hazelcast ’ s Jet stream processing
86 July 2021