Personetics’ technology enabled Hyundai Card to truly understand its customers’ transaction behaviors in real-time and supply them with useful insights such as spending forecast based on recurrent activities, duplicate charges, subscription cancellations, category anomalies and an additional line of credit for eligible segments. Solution: Data and AI-Driven Insights that Create Genuine Value Hyundai Card envisioned their customers using data and insights to better manage their personal finance and lifestyle – to feel more cared for, and ultimately engage more with the card. When customers chose to log in to the Hyundai Card app, the company wanted them to do more than check their monthly spending. “Hyundai Card prides itself on personalized financial and digital services, so it was imperative that we move beyond standard PFM, and provide genuine value to our customers through a new, unparalleled level of personalized insights with a clear and significant business impact,” explains David Deok Hwan Kim, Head of Card Business at Hyundai Card. Hyundai Card identified an opportunity to advance ahead of its competition by providing customers with personalized insights and advice they could use to make more informed spending decisions, while also highlighting the many benefits of its credit cards. Most companies’ PFM offerings were based on basic transaction data, such as monthly spending and spikes in certain categories, without proactive personalized guidance and advice that would impact a customer’s spending and financial habits. In an increasingly competitive market with many South Korean financial companies launching personalized money management services, Hyundai Card needed to stand out. “Hyundai Card rapidly pushed ahead its collaboration with Personetics to gain a competitive edge in the market by offering an advanced PFM and personalized engagement service which provides its customers with practical insights and highlights Hyundai Card’s winning points,” says Hyundai Card CEO Ted Chung.Ĭhallenge: Building a Customer Engagement Offering to Stand OutĪ great digital product for customer communication wasn’t enough. This enhanced functionality, added to the existing Hyundai Card services, and gave its customers a truly unique and useful in-app experience – generating an average customer satisfaction score of 4.7 out of 5 and click through rates of over 15% and are expecting to increase up to 20% at the end of this year. Joining forces with Personetics allowed Hyundai Card to leverage the global experience, library of over 250 built-in personalized financial data-driven insights and advice, and, the real game-changer, the Engagement Builder insight customization tool. To position itself as a market leader, boost customer engagement and truly differentiate from the crowded credit card marketplace, Hyundai Card determined it was time to depart from its modus operandi of developing all technology in-house and ventured on its first ever fintech partnership with Personetics. The company sought to employ a strategy of data science-enabled ‘Super Customization’, moving away from simple and inefficient mass marketing activities, and toward a more personalized approach that made its 3.7 million app users feel cared for. Hyundai Card, the leading provider of credit cards tailored to customer lifestyles in South Korea, started to prioritize personalization as part its digital offerings. Overview: ‘Super Customization’ to Better Manage Finances and Lifestyle Hyundai Card Uses Personetics to Create a Market-Leading Personalized Credit Card Experience
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