Financial Services

Data Management

Global Payments Company Streamlines Customer Management

In times of crisis, receiving financial assistance and support from loved ones is paramount. As a leader in the Latin American money transfer market, our client has been assisting people with sending funds to friends and relatives for over 20 years. During this time, its business has seen exponential growth in scale, and so has the number of its contacts. Finding itself lacking an effective way to manage customer contacts and to maintain solid client relationships, the firm enlisted BlueGranite to resolve its conundrum. Thanks to its partnership with BlueGranite, it now:

  • Has a clean and accurate contact list of over four million customers, verified by industry leading web services and matching software
  • Can conduct customer analytics including calculating customer churn and customer lifetime value, both of which allow the organization to more accurately assess and grow its business’ values in a good position to build a mechanism to connect with previous customers and rebuild or maintain relationships more effectively, thus growing its revenue

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The global remittance market is massive in scale. According to Business Insider, the total sum of global money transfers is projected to equate to $615 billion in 2018. With the emergence of various new avenues of remittance, such as social media and FinTech startups, traditional brick-and-mortar outfits must seek new ways to maintain relationships with existing clientele and to attract new ones.

With hundreds of retail stores and thousands of retail agent partners spread across multiple continents, our client has amassed an impressive list of over four million customer contacts. Maintaining communication with its contacts had always been a priority, as it was a crucial link in the chain of account management activities. However, it remained a challenge due to outdated, inaccurate, and conflicting information: Names, phone numbers, home addresses, and email addresses change often for various reasons; such as marriage or moving.

With plenty of contacts but no surefire method to confirm the accuracy of the information, our client was in a bind. It enlisted BlueGranite with the goal of creating a master list of verified contact information for each customer. This list would put its client retention efforts back on track.

Our first step was to compile information from its three point-of-sale systems and standardize, correct, and corroborate the data. Finding many duplicate contacts within the system, we merged the duplicates into a single contact using fuzzy matching techniques.

Once records are matched, we created a golden record with survivorship rules to ensure retention of the best representative customer data. The final product was loaded onto Microsoft SQL Server Master Data Services for long-term storage, review, and integration into the company’s data and analytics solutions.

Additionally, we leveraged Microsoft’s SQL Server Analysis Services (SSAS) to provide a robust set of customer analyses, including

  • Customer churn analytics: BlueGranite helped categorize the business’ customers into “New,” Lost”, “Returning,” and “Loyal” by analyzing its clientele over different time horizons (e.g., 90- or 360-day window). Such effort allowed the client to determine which relationships had ended and when, thus gaining insights into and enhanced its customer acquisition and retention.
  • Customer lifetime value analytics: We also helped them set up analyses to determine its customers’ lifetime value through the number of customers over time, the average transaction amount of each customer, and the average time a customer remained a customer. These analyses enabled the client to determine the average value each of its customer had, effectively helped them assess the value of its customer base, thus business.

Lastly, we enabled data visualization and additional end-user analyses by deploying Power BI. We combined SSAS with an on-premises data gateway to deploy multiple on-premises Power BI connections and ensure secure data access. We taught the users the ins and outs of self-service BI, including best practices. Users are now leveraging both SSAS and Power BI to track customer activities; across various segmentations such as business type, geographies of both the senders and the receivers, and banks transacted; and enhance the organization’s customer retention programs.

Are you working with outdated and conflicting data? Let BlueGranite, a data and analytics leader, help you find the path to a single source of truth. Contact us today.

TECHNICAL OVERVIEW

  • We used the Melissa Data Quality Components for SQL Server add-in, and SQL Server 2016 Integration Services, to pull customer data from several point-of-sales systems and run it through a cleansing and Golden Records routine.

  • We landed the customer point-of-sales records, combined with the Golden Record, into a Customer model in the Enterprise Data Warehouse built on SQL Server 2016.

  • Our team created an analytics model in SQL Server 2016 Analysis Services Tabular, allowing end users to analyze and visualize Active, Inactive, Lost, and Loyal customers using dynamic DAX calculations.

  • End users utilize Power BI combined with the on-premises data management gateway to consume the customer model in Analysis Services by creating visualizations and sharing analytical dashboards with co-workers.

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