Complete Customer Lifecycle Management

Transcription

1 Complete Customer Lifecycle Management neural technologies

2 Complete Customer Lifecycle Management Most organisations are faced with daily decisions on how to manage their customers. These decisions range from initial fraud and credit assessments on new customers, managing customers through their lifetime to ensure the profit potential of each account is maximised, and finally the management of accounts to ensure maximum revenue, and if necessary an orderly closure. Neural Technologies Minotaur product suite provides the tools and capabilities to simplify these decisions. Prospect Segmentation, Response Modelling Fraud Prediction, Credit Risk, ID Theft Never Pay Prediction Initiate Profitability Analysis Treatment Method Selection Collection Channel Management Revenue Assurance Collect Link Analysis Intelligence Service Attrition Modelling Anti Money Laundering Rules Neural Analytics Retain Customer Segmentation, Customer Lifetime Value Revenue and Profit Modelling, Target Marketing Cross Sell/Up Sell About Neural Technologies Neural Technologies provides risk management and business intelligence software to businesses around the globe. The company s Minotaur suite comprises a range of products that provides various industry sectors with advanced insight, enabling superior understanding of customer behaviour, motivations, preferences and purchasing propensities. Such knowledge allows organisations to protect key revenue streams, by employing dynamic and ongoing risk assessment, as well as maximise profits, by identifying new sales opportunities within their existing customer base. Revenue losses due to fraud, bad debt, credit risk, customer attrition and incorrect billing can all be identified and mitigated; and revenue generating strategies, such as cross selling and up selling of products, can be successfully formulated. Neural Technologies Minotaur product range is the culmination of two decades of extensive research and development into analytical processing, neural predictive and behavioural modelling and data mining. Such comprehensive experience has enabled the company to develop a powerful, proprietary architecture, differentiating its products from the competition and delivering outstanding return on investment for its clients. Neural Technologies products provide valuable support to business performance management activities, aid regulatory compliance and provide endto-end decisioning throughout the customer lifecycle.

3 Flexible Products & Pricing Neural Technologies products are available as a standard in-house installation or on a cloud/software as a service (SaaS) basis. They range from individual analytical models or standalone modules to manage a specific application, to full-blown systems capable of managing numerous applications. A variety of licence and payment methods are offered to satisfy the individual requirements and budgets of each organisation. Pricing options include: In full, based on customer numbers In full, based on throughput On a quarterly rental basis On a monthly/quarterly SaaS basis Performance based, a shared risk model You are truly a remarkable company who puts its customers first. You are not only a first class vendor, you are an exceptional team who went above and beyond the contract to support the implementation of DIRECTV s fraud management system. DIRECTV Cloud Services For many small and start up organisations, the initial licence, maintenance and hardware costs involved in purchasing an in-house solution are prohibitive. Neural Technologies hosted approach addresses these issues and offers many other benefits: Minimal investment (no upfront licence fee or hardware required) Payable on a monthly/quarterly basis Rapid implementation and return on investment Reduced and more efficient use of resources Configurable to meet your specific business requirements Easily accommodates new products and services, and business growth Interfaces with various data sources Compliant and consistent decisions A secure, proven hosted environment that eliminates down time Support of experienced team with extensive domain expertise We chose Minotaur because it is a single technology platform for multiple risk management applications and is configurable to meet our needs. Minotaur has the flexibility to add new data feeds, rules, neural models and profiles as our business needs change. T-Mobile/T-Systems, USA

4 Customer Acquisition A significant and growing problem for organisations today is the loss of revenue through providing products or services to those who cannot, or will not pay. It s crucial therefore, to assess all potential customers at application stage to determine whether they pose a credit or fraud risk. Advanced analytics provide vital decision support and are a valuable addition to existing in-house screening policies, fraud bureau and credit agency checks. Credit managers face a difficult challenge. The aim of taking on as many new customers as possible needs to be weighed up against the requirement to take on the right kind of customer, with the right offering and on the right terms for the business. Our predictive analytical models enable you to make decisions about new customers and to set credit limits relevant to their situation. The use of individual rather than blanket credit limits encourages increased spending from high value customers, helping to improve customer satisfaction. Determine appropriate initial credit limits There has been a 20% increase in attempts to commit fraud by including lies on application forms, e.g. for finance, insurance or other products. CIFAS Fraud is a costly business with far reaching effects, threatening both profitability and shareholder value, as well as denting consumer confidence and damaging corporate reputation. Our products identify anomalous trends and patterns within data that are likely indicators of fraudulent activity, plus cross reference against unique identifiers, such as passport, social security or national insurance number to highlight identity fraud. Spotting fraudsters at application stage substantially reduces risk. Prevent fraud before goods or services are provided Identify re-offenders Reduce false positive rates Detect insider or collusion fraud Understand emerging fraud types Interface with bureaus and other credit checking agencies Provide services that map to application criteria Consistent and objective assessment, focusing analyst or underwriter expertise on marginal cases Formulate strategies for credit lending

5 Prospect Segmentation, Response Modelling Fraud Prediction, Credit Risk, ID Theft Never Pay Prediction Initiate Profitability Analysis Treatment Method Selection Collection Channel Management Revenue Assurance Collect Link Analysis Intelligence Service Attrition Modelling Anti Money Laundering Rules Neural Analytics Retain Customer Segmentation, Customer Lifetime Value Revenue and Profit Modelling, Target Marketing Cross Sell/Up Sell Never Pay Risk A particular problem many companies face is the prospective customer who never intends to make a payment, not even the first one. Technically speaking these customers are different from the usual bad debt cases, and neither are they classified as fraudsters. Realising the losses companies take on such cases, Neural Technologies has developed analytical models that identify such customers at application stage. Prevent subscriber acquisition cost Achieve clarity in grey areas Reduce risk exposure Prioritise collection processes Identity Theft The process of confirming identity theft is laborious and time consuming. Typically, investigators look for matches or discrepancies between application data and external systems such as directory assistance or consortium/bureau, etc. Our analytical models automate and prioritise your fraud cases so that investigation time can be reduced and focused on those that have a high probability of closure and greatest reduction in financial loss. Reduced investigation time Automation of high propensity fraud/non fraud alerts Prioritisation of fraud cases Objective decision making through statistical rather than human interpreted results Enhanced and more accurate fraud prediction Identity theft is a growing problem. In the US, one in every ten customers has been victimized by identity theft. Javelin Strategy and Research

6 Customer Management Once acquired, each customer needs to be carefully managed so the potential for revenue maximisation is fully realised. Analytical models provide powerful insights into the drivers behind customers decisions, helping to determine factors such as purchasing propensity, profitability and risk of attrition. The most and least profitable customers can be identified, along with new sales opportunities. Such powerful knowledge enables organisations to make smarter marketing decisions. Fraudsters have become more sophisticated and organised than ever before, and are constantly changing tactics to avoid detection. Continual monitoring of your customer base will help to differentiate fraudsters from genuine customers. We look at and analyse a myriad of data sources to identify anomalous trends and patterns that are likely indicators of fraudulent activity. We not only monitor customer data, but also look at transactional and network activity, as well as employee activity to combat threats from within. Features & benefits Manage a variety of frauds, including internal scams Improve false positive rates Identify new and evolving types of fraud Calculate estimated loss, rate of loss and savings made Mine your data for more proactive fraud management 50% of fraud comes from external sources and 50% originates from internal sources. IDC Continuing to monitor customers for credit risk throughout the lifetime of their account is important; not only to mitigate loss, but also to help make informed decisions about how valuable (if at all) that customer is to the business. Should you continue to offer credit to particularly poor payers? Could you offer additional services to good payers to boost revenue? We constantly monitor the outstanding debt of your customer against their credit limit and produce alerts if the credit limit is exceeded or likely to be exceeded before the end of the bill cycle. Credit limits are automatically adjusted, according to spending/ payment behaviour, helping you to encourage further spending from good payers and fostering customer satisfaction. Monitor total account exposure against calculated credit limits Manage the credit limit and credit class dynamically, depending on spending/payment behaviour Predict credit limit breaches in advance, in time to put preventative measures in place Segment customer base, e.g. demographically or by behaviour for special treatments Since implementing Minotaur we have achieved faster and more accurate identification of fraud and reduced our bad debt figure from 2.8% to 1.3%. VimpelCom

7 Prospect Segmentation, Response Modelling Fraud Prediction, Credit Risk, ID Theft Never Pay Prediction Initiate Profitability Analysis Treatment Method Selection Collection Channel Management Revenue Assurance Collect Link Analysis Intelligence Service Attrition Modelling Anti Money Laundering Rules Neural Analytics Retain Customer Segmentation, Customer Lifetime Value Revenue and Profit Modelling, Target Marketing Cross Sell/Up Sell Anti Money Laundering Anti money laundering legislation in most countries requires financial services institutions to prevent or report money laundering activities. This typically includes carrying out customer due diligence measures to check that your customers are who they say they are, as well as putting into place internal controls and monitoring systems. Our products will ensure you comply with anti money laundering regulations. Verify the identity of any person seeking to open an account Determine source and destination of funding and check account opener s name against any government provided lists of known or suspected terrorists/terrorist organisations Compare the customer to profiles of expected, projected and suspected behaviours, and through direct tracking of behaviour-violating regulation 61% of consumers take their business to a competitor when they end a business relationship. Kissmetrics Up to 2% to 5% of the worldwide economy is laundered money. International Monetary Fund Customer Attrition/Churn Management Stiff competition between organisations in many industries today has led to a buyer s market, with customers frequently switching their allegiance between brands in search of a better price or service. With advanced warning of customer attrition, and insights into the motivations behind it, you will be better equipped to take pre-emptive action. Predictive analytics provide you with a valuable understanding of the variables that influence customer attrition. Identify attrition/churn indicators Predict if, when and why a customer will churn, to enable the formulation of effective retention strategies Identify the most valuable customers to ensure they are retained Get the right message to the customer at the right time

8 Prospect Segmentation, Response Modelling Fraud Prediction, Credit Risk, ID Theft Never Pay Prediction Initiate Profitability Analysis Treatment Method Selection Collection Channel Management Revenue Assurance Collect Link Analysis Intelligence Service Attrition Modelling Anti Money Laundering Rules Neural Analytics Retain Customer Segmentation, Customer Lifetime Value Revenue and Profit Modelling, Target Marketing Cross Sell/Up Sell Customer Lifetime Value Customer lifetime value takes into account the monetary value a customer brings to an organisation spanning the entire period they remain a customer. It concentrates on maximising the value of customers by retaining them for longer and selling to them repeatedly. Different customers vary in their value, therefore it s beneficial to be able to segment your customer base so that appropriate treatments can be tailored for each segment. Determine which customers are most critical to the revenue stream so that retention measures are proactively put in place Identify which high-value customers are spending less, and which low-value spending customers have started spending more Use the information as justification for various customer acquisition/retention strategies and spending Targeted Marketing One of the problems with direct marketing is unwanted promotions. Consumers can be easily inundated with offers that are of no interest to them. For marketing departments unwanted promotions constitute cost without any benefit. Our analytical tools help you to be more targeted in your marketing efforts, by identifying which groups of consumers are more likely to be receptive to specific promotions. Understand customers motivations and market response Identify relevant customers to receive specific offers and tailor the promotion accordingly Provide a framework for different customer treatments Increase response rates and reduce mailing and acquisition costs

9 Cross-Selling Cross-selling of products and services to existing customers is not only a great way of increasing revenue, it also helps to engender customer loyalty. But how do you decide which customers to target and what products to offer them? Our analytical models enable you to tap into the hidden relationships within your customer data to identify good candidates for cross-sell and up-sell opportunities. Explore linkages between the products/services customers presently buy and the ones they might be persuaded to buy Increase customer satisfaction by only offering products for which they qualify, or that their profile shows is relevant to them Increase customer retention by providing customers with more than one product or service Minimise expenditure through focused marketing campaigns Customer Segmentation Customer segmentation allows marketers to classify and target groups of customers with appropriate marketing strategies that satisfy the different preferences of each specific group. Customer segmentation involves deciding what data will be used and collecting and integrating it from various sources. This can pose a huge challenge which is greatly facilitated by our products which enable you to segment your customer base, using multiple variables, for example: Geographic, e.g. region of the world, country or county, by region size or climate, etc. Demographic, e.g. age, gender, family size, income, occupation, education, socioeconomic status, religion, nationality, ethnicity, etc. Psychographic, e.g. personality, life-style, values and attitudes Behavioural, e.g. customers who behave in similar ways or have similar needs, such as benefit sought, product usage rates, brand loyalty, product end use, readiness-to-buy stage, decision making unit, etc. Companies focus on acquisition more than customer retention, even though it can cost seven times more to acquire new customers. Kissmetrics

10 Prospect Segmentation, Response Modelling Fraud Prediction, Credit Risk, ID Theft Never Pay Prediction Initiate Profitability Analysis Treatment Method Selection Collection Channel Management Revenue Assurance Collect Link Analysis Intelligence Service Attrition Modelling Anti Money Laundering Rules Neural Analytics Retain Customer Segmentation, Customer Lifetime Value Revenue and Profit Modelling, Target Marketing Cross Sell/Up Sell Research has shown that as many as 35% of delinquent debtors move annually. Lexis Nexis Collections Optimisation Bad debt is rising at an alarming rate, particularly in these recession hit times. Collections departments have to work efficiently to ensure that their bill is not left at the bottom of the pile. Analytics can help you develop a focused collection strategy, making the most of limited resources by identifying which customers are likely to pay, which ones are never going to pay and which method is likely to be the most successful in recovering the outstanding debt. This substantially reduces manual decision making, allowing manpower to be utilised in other areas of the collections process. Skip Tracing Prioritisation Locating debtors can be a time consuming task with associated cost implications. A disconnected phone, an invoice returned in the mail and payment overdue by more than 30 days are pretty good indicators that a debtor has "skipped" out on his/her obligations. Our analytical models make it quicker and easier for you to find delinquent debtors through the successful selection of the correct processes, treatments and tools. Identify the most cost and time effective means of validating contact details (e.g. phone numbers) for people and businesses Evaluate the many external tools, databases and services aimed at locating debtors Prioritise tools to recover outstanding debt in the fastest and most cost-effective way Group and prioritise accounts to be investigated, e.g. identify those with highest propensity to pay Optimise the order of treatment strategies to be used in approaching each account, e.g. phone, letter, , SMS etc. Identify accounts where payment is unlikely to be forthcoming, saving wasted time and effort Identify 'write-off' accounts at an early stage Prioritise accounts for shut off for non payment

11 Revenue Assurance & Process Analytics The increasing level of market competition and the complexity of emerging technologies are fuelling the need for more visibility of internal systems and processes to ensure that preventable revenue leakages are minimised. Our revenue assurance products are designed to help you ensure that all revenue generated by your customers and partner organisations is correctly billed or accounted for, and that the processes designed to support your revenue assurance function are working as efficiently as possible. They provide visibility of leakages and assurance that endto-end business processes are continually optimised. Monitor the flow of billable events through mediation, rating and billing to ensure all billable traffic is collected in the first instance and that none is lost before reaching the customer s bill Identify changes to system data, or the lack of changes, to ensure that processes are taking place in the correct sequence and in the expected timeframes Establish the consistency of customer, product and service data on the integrated systems to ensure that all services provisioned, or deprovisioned, are also recorded accurately in the CRM and billing systems Confirm the flow of revenue across external business relationships, such as inbound and outbound payments and content, to ensure full and accurate collection of monies owed, as well as accurate settlement with partners Minotaur provides Trilogy with better overall visibility so we can react quickly and independently to changing market conditions and changing risk scenarios. Trilogy International Partners

12 neural technologies Neural Technologies Head office - UK T: Brazil T: +55 (61) Chile T: USA T: Hong Kong T: Malaysia T: Singapore T: E: info@neuralt.com W: