Advanced Analytics Solutions to Profile Customers & Arrest Churn for a Leading Payday Loans Business
The client is a financial services company offering a streamlined mobile app that gives payday advances. Their revenue model includes customers offering an optional tip with each transaction. The application has premium/ smart features that help customers avoid overdrafts and maintain optimum bank balance.
The client was embarking on a technological modernization program to improve business workflow, increase revenue and decrease costs. In consultation with the client, Indium Software planned the modernization roadmap and its execution. This involved first- highlighting and subsequently improving the performance of several business operations & legacy systems, and secondintroducing new technological functionalities such as: Churn Analysis, User Profiling, A/B Testing, Product Analytics, Data Visualization Maintenance (on existing systems), Employee Data Clean Up and Python Code Linting. Descriptive and Predictive Analytics were applied to the client’s business operations to streamline workflows, increase customer retention, lower costs through loan losses and increase ‘tips’ (the source of revenue).
The application uses data from the following :
Zendesk – which holds customer IT support data
Adjust – which records user session logs and events
PostgreSQL – database which holds user details, bank account information, cash outs, activations etc.
Periscope – Data visualization tool.
- User Profiling
- Churn Analysis
- A/B Testing
- Product Analytics
- Data Visualization maintenance (Periscope)
- Employee Data Clean Up
- Python Code Linting