Payment Processing Company Implements a Tool to Analyze Customer Activity and Better Retain Existing Customers

Overview

VNB Consulting helped a payment processing company develop a tool that enabled them to analyze customer activity and optimize pricing by performing a what-if analysis. This led to improved customer retention and satisfaction.

Customer Profile

Customer is a global leader in payment technology and services, offering a comprehensive suite of solutions to businesses worldwide. With a strong focus on innovation, they continuously strive to enhance their offerings and meet the evolving needs of their customers. Their extensive experience and expertise have solidified their position as a trusted partner in the payment industry.

Customer Situation

The client's existing data management approach was characterized by fragmentation and inefficiency. Multiple disparate tools were utilized to track various aspects of customer activity, resulting in a fragmented view of customer behavior. This fragmented data hindered their ability to effectively identify customers planning to switch services and implement targeted retention strategies. Additionally, manual processes for maintaining reference data were time-consuming and prone to errors, further exacerbating the challenges faced by the client. These inefficiencies limited the client's ability to make data-driven decisions and optimize their pricing strategies, hindering their ability to deliver personalized experiences and drive customer satisfaction.

Our Solution Offering

Financial Services Solution Offering

To address the client's challenges, VNB team proposed a solution that leveraged an existing application infrastructure that was already deployed in a different region. By onboarding the client's loyalty team into the existing application, we streamlined their data management processes and provided a unified platform for analyzing customer behavior. By aggregating data from diverse sources and leveraging Snowflake, the team extracted, transformed, and loaded the client's data into the desired JSON format, ensuring seamless integration with their Salesforce application. This approach not only simplified the client's existing processes but also reduced the time and cost associated with developing a new solution from scratch. The team used Power BI to develop rich dashboards to provide a detailed view and trends of current activity of a customer. This scalable and efficient solution empowered the client to make informed decisions, optimize their pricing strategies, and deliver personalized experiences to their customers, ultimately enhancing their overall business performance.

Customer Benefits

  • Consolidated Data Access: The unified solution offering eliminates the need for multiple tools, streamlining data access and analysis.
  • Improved Customer Retention: By optimizing pricing strategies and delivering personalized experiences, the client can enhance customer satisfaction and reduce churn.
  • Enhanced Decision-Making: Real-time access to accurate and up-to-date data empowers the loyalty team to make more informed and timely decisions.
  • Visualized Data: Power BI's interactive dashboards transformed complex data into easy-to-understand visualizations, allowing the loyalty team to quickly identify trends and patterns.

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