Understanding the needs of banking customers in the digital economy
Adaptive tools improve marketing impact and engagement.
Personalized communications and superior customer experience
Jyske Bank achieved this using • SAS® Customer Intelligence 360 on Amazon Web Services
Jyske Bank uses SAS Customer Intelligence 360 to personalize customer experiences that increase profitability and create lasting brand loyalty
In recent years, the behavior of banking customers has changed. They have higher demands for digital solutions, as they have become more familiar with digital journeys inspired from other industries and their private use of digital interfaces.
Every customer has unique needs and expectations for individualized services. They also represent variable profitability for the bank. Jyske Bank, the third-largest financial institution in Denmark, wanted to offer relevant, timely services to foster good customer experiences as well as profitability.
Founded in 1967, Jyske Bank now has 3,940 employees and 42.6 billion DKK (US$6.1 billion) in equity. Working with SAS, Jyske Bank is taking a new approach to meet its customers’ needs and modernize the way it interacts with customers. The bank is using SAS Customer Intelligence 360 on Amazon Web Services to better understand its customers and optimize marketing efforts.
“We want to preserve and expand our strong relationships with our existing customers,” says Tom Palving, Center of Excellence Lead for Digital Communication and Sales Loyalty at Jyske Bank. “And for individuals who are not yet customers, we want to offer, through open banking, an opportunity to see how it feels to be a customer in our bank. Relationships grow from having a strong brand, strong advisory competencies and strong digital offerings.”
One aspect of a successful relationship is frequency of interactions. Jyske Bank wants customers to visit often, not necessarily a physical bank branch, but through digital channels. The bank sought a digital solution that could provide insights on each customer’s unique needs, build more customized touchpoints and design better user journeys.
Ten commandments for building digital relationships from Jyske Bank
At SAS Innovate, Tom Palving, Center of Excellence Lead for Digital Communication and Sales Loyalty at Jyske Bank, shares the bank’s 10 commandments for building digital relationships.
Many touchpoints – one workflow
With SAS Customer Intelligence 360 in place, Jyske Bank can plan everything from traditional events to email campaigns and digital advertising in one workflow. Learning is built into the platform, so the digital sales team at Jyske Bank gains a better understanding of how different types of communication impact each customer and which channels to use. The bank can track the influence in real time and adjust the approach as needed.
Palving points out that it is important to gradually implement new ways of working and new features, which the flexible structure of the platform allows for.
“SAS Customer Intelligence 360 is an out-of-the-box solution that can support the needs of Jyske Bank for years to come,” Palving says. “We do not need to use every module to get started; we can increase our usage and add more modules as we learn.”
We have seen that the SAS team has a high technical skill level, and they understand their platform very well. We get great advice on what to take into use as well as how to use it. It is obvious that SAS’ many years of experience handling data really helps create an efficient project process.Tom Palving Center of Excellence Lead for Digital Communication and Sales Loyalty Jyske Bank
Cloud hosting saves resources
Running SAS Customer Intelligence 360 on Amazon Web Services represents one of the first cloud implementations at Jyske Bank. Palving has great expectations in terms of saving resources, as there will be no running updates to the platform.
The collaboration between Jyske Bank and SAS in implementing the platform has been a positive experience, he adds.
“We have seen that the SAS team has a high technical skill level, and they understand their platform very well,” Palving says. “We get great advice on what to take into use as well as how to use it. It is obvious that SAS’ many years of experience handling data really helps create an efficient project process.”
Jyske Bank – Facts & Figures
650,000
individual customers
71,000
corporate customers
US$6.1 billion
in equity [42.6 billion DKK]
Les résultats présentés dans cet article sont spécifiques à des situations, problématiques métiers et données particulières, et aux environnements informatiques décrits. L'expérience de chaque client SAS est unique et dépend de variables commerciales et techniques propres, de ce fait les déclarations ci-dessus doivent être considérées dans un contexte. Les gains, résultats et performances peuvent varier selon les configurations et conditions de chaque client. SAS ne garantit ni ne déclare que chaque client obtiendra des résultats similaires. Les seules garanties relatives aux produits et services de SAS sont celles qui sont expressément stipulées dans les garanties contractuelles figurant dans l’accord écrit conclu avec SAS pour ces produits et services. Aucune information contenue dans le présent document ne peut être interprétée comme constituant une garantie supplémentaire. Les clients ont partagé leurs succès avec SAS dans le cadre d’un accord contractuel ou à la suite de la mise en œuvre réussie du progiciel SAS. Les noms de marques et de produits sont des marques déposées de leurs sociétés respectives.