NeoStats increased business profitability for an African MNC bank through data analytics transformation
“NeoStats has brought a combination of strong partnership and expertise in Data Analytics to help build these critical capabilities within our organization. They have guided at executive level while growing the skill base within the organization. Through practical use cases, they have delivered fast and continuous value for the organization while establishing long-term capabilities”
Chris Hughes
Group Chief Operations Officer, Letshego Holdings
ROI
0
X
Increase in data driven Loan Sales
+
0
%
Increase in digital sales
+
0
%
Situation
The bank is aiming to increase market share, profitability, and enhance digital sales. Despite efforts in the past, these objectives have been impeded by certain limitation
Challenges
- Limited Data: The bank has a restricted amount of data available for analysis.
- Outdated Analytics Technology Stack: The existing technology stack is outdated, impeding previous transformation efforts.
- Customer Engagement: There is a need to effectively cross-sell, retain, and engage customers using modern techniques.
Solution
- Leverage advanced analytics, AI/ML, and external data to enhance customer engagement strategies.
- Implement new technologies to update the analytics stack and improve data utilization.
- Collaborate closely with sales, product, and digital teams to ensure a cohesive approach.
- Adopt a continuous improvement mindset by regularly measuring outcomes, learning from results, and optimizing use cases.
