Generating Sales Leads for SME and Corporate Through Supply Chain DataBFSI
Banks are still the customers’ primary trusted source for financial products and services. With their established reputation for reliability and security, banks have the biggest hold in the financial industry, whether it is in insurance, investment, personal, or business loans.
Leveraging this trust, banks can target new customers and to grow their client base by implementing effective lead generation strategies. Additionally using past history and behaviors they strengthen their relationships with existing customers by offering them tailored solutions leading to high ROI.
The client, a leading remittance house in the GCC region, sought a real-time names and transaction screening solution to mitigate risk and provide a safer financial space for their customers.
Challenges:
- Client lacked a benchmark for the accuracy of name-matching algorithms.
- Fine-tuning the model to reduce false positives and screening time without compromising on recall.
The team followed following approach to come up with a solution:
- Extract customer details like customer name, transaction type, transaction amount etc.
- Standardize the details to create a supply chain database of trading partners of companies.
- Create profile of topmost supply chain partners viz. buyers and suppliers.
- Map the partners to the bank’s existing customers to understand coverage.
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Create value proposition and prioritize lead list for the partners to be targeted.
With the implementation of our analytical solution, the bank can now:
- Prioritize the lead list based on the bank’s focus areas and propensity to acquire new customers.
- Pass the lead lists to the sales team, providing them with actionable insights and targeted leads for outreach.
- Execute acquisition campaigns for the identified prospects, leveraging the value proposition tailored to each partner’s specific needs and preferences.