In the competitive landscape of retail banking, understanding customer behavior and preferences is crucial for driving revenue growth. Yet, most banks still rely on broad, blanket outreach, often pushing different products to large, generic customer lists with limited visibility on true potential and affinity of customers.
This leads to inefficient campaigns, slow conversion cycles and lower ROI.
This case study highlights how a leading bank transformed its Fixed Deposit acquisition approach by leveraging Kentrix’s real-time customer enrichment solution. It was able to achieve a remarkable 2X increase in revenue while maintaining the same outreach volume.
Challenge – Limited Customer Intelligence
The bank faced a common yet critical challenge in retail banking operations. It had insufficient customer intelligence for effective product targeting. Despite maintaining a customer database of 4,40,000 accounts, the bank’s internal data infrastructure lacked the depth required to identify high-potential customers for Fixed Deposit products.
Their approach to promoting FD product was a typical mass-marketing approach. Sending a common messaging to the entire customer base without meaningful segmentation and targeting. This led to following consequences:
- Low conversion rates due to irrelevant messaging reaching customers with no interest in FD products
- Suboptimal resource allocation with marketing efforts spread thin across unsuitable prospects
- Extended sales cycles as the sales team wasted time pursuing low-propensity leads
- Customer fatigue from receiving irrelevant product communications
- Missed revenue opportunities by failing to prioritize high-potential customers.
What the bank needed was smarter targeting, powered by deep customer level insights. They partnered with Kentrix for this purpose.
Kentrix’s Approach – Real-Time Customer Enrichment API
Kentrix deployed its real-time customer enrichment solution directly into the bank’s customer journey.
Each individual customer profile was enriched with high-value intelligence signals including:
- Household income
- Psychographic consumer segmentation
- Customer lifestyle affinity indexes
- Region type
The whole database of 4.4 lakh customers was enriched with granular intelligence. The API-based model ensured seamless integration. The enrichment was done in real-time without batch processing delays. Machine learning algorithms identified high-affinity FD prospects.
The Targeting Strategy
Using the enriched customer profiles, Kentrix’s propensity models identified customers exhibiting:
- Strong savings orientation
- Appropriate income levels for FD orientation
- Financial stability markers
- Investment product engagement history
The data-driven approach enabled the bank to create a high-propensity customer cohort from within their existing database. These were customers most likely to respond positively to FD offerings.
Results
| Metric | Traditional Approach | Kentrix Propensity Model | Improvement |
| Customers reached | 4,40,000 | 4,40,000 | Same base |
| Daily revenue | INR 3.5 Cr | INR 7.2 Cr | 2x increase |
| Revenue Cycle Time | Baseline | 50% of baseline | 50% reduction in revenue generation cycle time |
| Process Efficiency | Baseline | 2x baseline | 2x improvement in process efficiency |
These transformational results happened without increasing campaign budgets or marketing intensity.
Key Success Factors & Takeaways
This case study demonstrates that success in selling financial products isn’t about reaching more customers, it’s about reaching the right ones. Kentrix’s customer enrichment solution proved that sophisticated data intelligence can transform marketing ROI without expanding the target universe.
- API First Architecture
The real-time API approach enabled seamless integration with existing systems while maintaining data freshness and accuracy.
- Propensity Modeling
Machine learning-based propensity models provided the predictive edge necessary to identify hidden opportunities within existing customer relationships, turning data into actionable intelligence.
Conclusion
This partnership between a leading private bank and Kentrix exemplifies the transformative potential of customer data enrichment, propensity modeling, and AI-powered targeting in financial services.
The ability to understand customers at a granular level, predict their needs, and engage them with precision will define the next generation of banking excellence.
For financial institutions seeking to optimize cross-selling effectiveness, accelerate revenue generation, and improve customer targeting precision, Kentrix offers the intelligence layer that transforms customer data into competitive advantage.
How Banks Can Use Kentrix’s AI Solutions?
Banks across India can use Kentrix to:
- Scale customer enrichment
- Identify high-propensity upsell & cross-sell cohorts
- Optimise DSA distribution
- Support branch expansion strategy using data
If you’d like to evaluate growth opportunities inside your existing customer base, write to us at [email protected].
