Financial Services

Overcome the pressure to lower costs and deliver more value for your customers by unlocking the power of data.

Remain competitive with our five core digital elements:

Develop digital products and services to deliver differentiated value propositions

Evolve the member, advisor, and branch officer experiences to drive engagement

Execute new digital marketing strategies in order to acquire and deepen relationships with members

Streamline operational functions through actionable insights

Leverage data and analytics to optimize cost structure, reduce task turnaround, and improve the quality of service to your members

Attract the right customers

Our team of experts at Aimpoint will help your organization enhance productivity and create significant value.

Highlighted customer success

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Decreased fraudulent cost by 73% with machine learning

Global Financial Institution

Fraud Detection

Client challenge: The client’s rule-based fraud detection on the payment processing system was ineffective. The rules were manually development by fraud experts by analyzing different fraud transactions, leading to cognitive biases, recency bias, and simplicity. 

Our Approach: Leveraged machine learning to develop a fraud detection model. The algorithm was trained on 1 year of historical data consisting of billions of transactions with more than 200 variables.

Outcome: Implemented model was able to pinpoint 65% of the fraud transactions and reduce fraud-related costs by 73%. 

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Substantially increasing customer retention

Global Banking Company

Customer Retention

Outcome: The client was looking to increase customer retention through a deeper understanding of transactions and interactions that led to customer attrition.

Our Approach: Leveraged 300 plus variables across customer interaction channels and transactions to segment customers into 16 distinct segments. The number of variables was reduced through correlation indexes. A random forest model was leveraged to understand highly correlated events with customer attrition within each customer segment.

Client challenge: Determined banking branch visits and fees were highly correlated with customer attrition. Recommended elimination of fees for certain customer segments and incentivizing branch visits for customers at risk for attrition.

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