Apar helps an ASEAN bank setup a Centre Of Excellence in Data Analytics and develop data science solutions for its different business units
The client is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. It has a wide retail branch network with 1,080 branches across the region.
The group’s business activities are primarily in the areas of Consumer Banking, Wholesale Banking, comprising Investment Banking and Corporate Banking, Treasury & Markets, and Group Strategy & Strategic Investments, with its core markets being Malaysia, Indonesia, Singapore, and Thailand. The Decision Management team is responsible for developing data-driven decision systems for the bank.
The bank’s initiatives involve using AI and machine learning providing
- Improved customer experience through increased personalization and ease of banking
- Bringing down operating cost by automation and data-driven decision systems for existing processes
- Increasing Revenue by use of predictive and prescriptive analytics
The bank has been storing data for past few years but all of the analysis done on data was descriptive. Also, the process for analysis was not automated. This resulted in decisions being taken after events had occurred and delays in decision making due to time consuming processes. The data security concerns of BNM made it difficult to access data outside Malaysia which made it difficult to get industry experts in data science into the team.
Enterprise end to end implementation spanning development of data science solutions for different business units including but not limited to consumer banking, compliance, Commercial banking, transaction banking, and other business across South-East Asia.
The Apar Difference
- Personalization of banking products and services
- Targeted Campaigns for products are launched based on the propensity of a customer to take-up the product
- The team is now able to develop predictive reports which in turn help with prescriptive analysis of the data
- Predicting customer attrition, defaulters, and anti-money laundering
- Optimization of banking operations like branch operations, ATM cash optimization, and personalization of customer care and services
- Analyzing customer profile and providing personalized products and services based on customer propensity, demographics, and preferences
- Compliance and Risk analytics predictive solutions
- Predicting customer propensity to buy different banking products and provide personalized campaigns and offers on the digital platforms
Apar did an exceptional job in identifying and setting up our Centre for Training and Development focussed on Data Science. Apar’s deep domain knowledge and experience in setting up niche technology centers have been of great value to the bank. We have been getting a high quality of decision analytics from the Apar team which has helped our consumer bank in its growth and improving outreach to our customers across ASEAN.
Managing Director and Head of Decision Management