The solutions division of Forte Consultancy Group today announced release of a new plug-and-play solution for segmenting and predicting behavior of credit card customers for the financial service providers. With what the company calls a 'ReadyWare', credit card providers will gain a 360-degree view of their customers for more pro-active marketing activities in a matter of days.
The new ReadyWare addresses most critical credit card marketing challenges through built-in segmentation, attrition prediction and usage propensity models, such as:
- Pro-actively retaining high value cardholders who have high attrition risk
- Customizing offerings based on cardholder profile and lifestyle
- Pro-actively stimulating spend and preferred behavior, such as
- Cross-selling second or supplementary cards to single cardholders with high potential
- Identifying and addressing customers with decreasing spend and those that are occasional users
- Motivating cash withdrawal and installments for customers who are likely to increase their profitability through them
- Motivating revolving behavior for customers with low risk to increase spend over time
Ali Pirinccioglu, General Manager of Forte Consultancy Group, explained the rationale behind the new solution as, "Our consultancy team has completed at least a dozen customer analytics projects for credit card providers across Europe and Asia, in just the last 2 years. In almost all cases our clients demanded solutions that can be implemented fast enough to react to changing market conditions but were also cost efficient enough to keep their short term profitability at bay. The collaboration between our consultancy and development teams helped us build such a solution, which can be deployed in a matter of days and provide answers to most common analytical CRM needs of credit card providers.". Berkin Ozmen, Forte Wares' Managing Partner added, "Our team's learnings from working with the leading credit card providers across our region have been extremely valuable for us. We were not only able to come up with the most sought after analyses and models, but had the chance to test our new solution against real world scenarios before releasing it into the market."
Forte expects the ReadyWare to be especially attractive for banks which currently have limited to no data mining software and models in place, as it would give an instant boost to CRM capabilities. Yet, Mr. Ozmen suggests that "Even companies in more advanced states can benefit from our ReadyWare, as it would provide them a quick and low-cost opportunity to challenge their existing models, which can be worth millions on its own."
The company announced that it will be also showcasing the solution during ABTEC 2014, the leading invitation-only event for the financial technology community in the Middle East & North Africa region, on 8-9 April - "We believe that this ReadyWare, as well as our other solutions fit perfectly with ABTEC's vision of introducing game-changing technology to the most passionate and innovative IT leaders, which is why we also became a sponsor of the event."
Forte Wares Managing Partner also hints that their current product portfolio is just the beginning and the company is set to become an innovation power house for the BI domain with new products in 2014: "We cordially invite all delegates to our stand at C03, for a demonstration of how our solutions can boost their analytics capabilities, as well as witnessing the launch of our next BI solution - named CIWare, which will change how analysis and reporting is done, forever."
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About Forte Wares
Forte Wares is the analytics and BI solutions division of Forte Consultancy Group, the preeminent analytics-driven services group in the EMEA region, operating out of its offices in Istanbul and Dubai.
Contact Information
Forte Wares
+902122309004
info@fortewares.com
www.fortewares.com
© Press Release 2014
