Solutions

Customer Insights

Understand Your Customers’ Activity with Competing CC Providers

Problem to be Solved:

Consumers have on the average more than 2.3 credit cards in their wallet – competing for a space in the wallet is a struggle for FIs. Often, offering a unique set of card rewards provides a valued motivator to the consumer.

How Segmint Data Adds Value:

Using bill pay data, Segmint identifies customers making payments to affiliate card options, such as Home Depot. With these insights, clients can offer merchant rewards on their own credit card to motivate the customer to add the FI card to their wallet.

1. Use the endpoint listed below to pull the list of KLIs assigned to customers within the Competitive CC Payments per Month branch of the KLI taxonomy. The result will provide data describing the number of payments and amount of payments your customers are making to competing CC providers .

Endpoint: /kli/v1/partners/{{partner_id}}/kli_assignments/{{kli_code}}/children
kli_code: 33805543(Competitive CC Payments per Month)
kli_class: PUBLIC
kli_is_competitive: N
kli_is_leaf: Y

2. For additional details for each KLI insight, use the following endpoint. Cycle through each KLI code to obtain the total count of customers who have the KLI assigned to them.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details/{{kli_code}}
kli_code: Code of each KLI to obtain additional details

Provide Relationship Managers with Customer Insights about Held-Away Assets

Problem to be Solved:

Knowing what products customers have with you only reveals a portion of their share of wallet. When engaging in customer conversations, relationship managers need quick access to data revealing payments their customers are making to competing institutions for held-away accounts.

How Segmint Data Adds Value:

Insights from the transactions a customer processes can provide a wealth of valuable insights, including their held-away assets and merchant preferences, revealing their life events and ultimately, their financial needs. Relationship managers can use these insights to have meaningful conversations with their customers.

To retrieve held-away asset details for a single customer, use the endpoint listed below to pull the list of KLIs assigned to a customer within the Competitive FI Products & Activity branches of the KLI taxonomy.

1. Start with the Competitive FI Products branch to retrieve the set of held-away products and institutions.

Endpoint: /kli/v1/partners/{{partner_id}}/ucics/{{ucic}}/kli_assignments/{{kli_code}}/children
kli_code: 39668008 (Competitive FI Products)
kli_class: PUBLIC
kli_is_competitive: Y
kli_is_leaf: Y
ucic: UCIC of the customer being searched

2. Optionally search the Competitive Banks branch to retrieve all competing institutions the customer is sending payments to, regardless of product type.

Endpoint: /kli/v1/partners/{{partner_id}}/ucics/{{ucic}}/kli_assignments/{{kli_code}}/children
kli_code: 8847985 (Competitive Banks)
kli_class: PUBLIC
kli_is_competitive: Y
kli_is_leaf: Y
ucic: UCIC of the customer being searched

Create a Rewards Program with Relevant Benefits

Problem to be Solved:

Creating a Card Rewards program with rewards that incentivize your customers is often difficult because of diverse customer preferences.

How Segmint Data Adds Value:

Obtaining KLIs that describe the merchants where your customers prefer to shop and providing the population size of customers that shop with that merchant can help you build a Rewards program that will encourage utilization of your card offerings.

1. Use the endpoint listed below to pull the list of KLIs assigned to customers within the Consumer Spend branch of the KLI taxonomy. The result will provide the set of merchants for which your customers process transactions.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_assignments/{{kli_code}}/children
kli_code: 8616194 (Consumer Spend)
kli_class: PUBLIC
kli_is_competitive: N
kli_is_leaf: Y

2. For additional details for each KLI insight, use the following endpoint. Cycle through each KLI code to obtain the total count of customers who have transacted with the merchant.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details/{{kli_code}}
kli_code: Code of each KLI to obtain additional details

Enhance Collection Models

Problem to be Solved:

Predicting and preventing customers from moving into a collections status can save significant time and money for all parties and can help you retain your valued customers. However, building collections models to accurately predict these scenarios requires a breadth and depth of data that may not be readily available.

How Segmint Data Adds Value:

Segmint’s robust and structured insights taxonomy provides an extensive data set that your modelers can use to test the predictability of various customer insights to build smarter tools.

1. In this situation, you want all KLI insights assigned to all customers. Use the endpoint listed below. No query parameters are necessary.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details

2. For additional details for each KLI insight, use the following endpoint. Cycle through each KLI code to obtain the total count of customers who have the KLI assigned to them.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details/{{kli_code}}
kli_code: Code of each KLI to obtain additional details

Generate Rules Based Triggers for Personalized Customer Interactions

Problem to be Solved:

Customers have come to expect very personalized experiences from every interaction. Every site they visit, every app they interact with and with every online purchase they make, products and services are being recommended to them. Banks need to start to follow suit. But a depth of customer insights is required to make informed recommendations at the right time.

How Segmint Data Adds Value:

The Segmint KLI taxonomy provides insights about your customers that span all aspects of their financial behaviors; their products with you, their held-away assets, their utilization of your services and loan products, their inferred life events and their personal spend patterns. These insights provide the perfect inputs to a rules-based engine triggering personalized interactions with your customers.

1. In this situation, you want all KLI insights assigned to all customers. Use the following endpoint. No query parameters are necessary.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details

2. For additional details for each KLI insights, use the “Details for a single KLI” endpoint. Cycle through each KLI code to obtain the total count of customers who have the KLI assigned to them.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details/{{kli_code}}
kli_code: Code of each KLI to obtain additional details

Gain Share of Wallet by Understanding Your Customers’ Activity with Competing CC Providers

Problem to be Solved:

How Segmint Data Adds Value:

Endpoint: /kli/v1/partners/{{partner_id}}/kli_assignments/{{kli_code}}/children
kli_code: 33805543(Competitive CC Payments per Month)
kli_class: PUBLIC
kli_is_competitive: N
kli_is_leaf: Y

2. For additional details for each KLI insight, use the following endpoint. Cycle through each KLI code to obtain the total count of customers who have the KLI assigned to them.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details/{{kli_code}}
kli_code: Code of each KLI to obtain additional details

Use Data to Influence your Corporate Social Responsibility (CSR) Mission

Problem to be Solved:

In order to attract, engage and retain the best customers, employees and investors, institutions need to implement a corporate social responsibility mission that aligns with the causes their customers and employees support.

How Segmint Data Adds Value:

Insights from the financial transactions customers process shed light on their preferred charitable causes and can be used by an Institution to select the profile of nonprofits they choose to support.

1. Use the endpoint listed below to pull the list of KLIs assigned to customers within the Philanthropy branch of the KLI taxonomy. The result will provide the set of merchants for which your customers process transactions.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_assignments/{{kli_code}}/children
kli_code: 8080229 (Philanthropy)
kli_class: PUBLIC
kli_is_competitive: N
kli_is_leaf: Y

2. For additional details for each KLI insight, use the following endpoint. Cycle through each KLI code to obtain the total count of customers who have transacted with the merchant.

Endpoint: /kli/v1/partners/{{partner_id}}/kli_details/{{kli_code}}
kli_code: Code of each KLI to obtain additional details

Encourage Debit Card Swipes for Additional Revenue

Problem to be Solved:

Incenting card holders to increase debit usage can significantly increase revenue from interchange and other card fees. On average, card holders swipe 20 times per month - increasing that average requires incenting low usage card holders.

How Segmint Data Adds Value:

Using Segmint’s Marketing Automation solution and initiating an Always On campaign, FIs can automatically trigger messages to card holders with low debit activity. As an individual’s usage increases, they fall out of the target audience, ensuring only relevant messages are delivered.

Payments to Competing FIs Shape Card Offers

Problem to be Solved:

How Segmint Data Adds Value:

Using bill pay data, Segmint identifies customers making payments to affiliate card options, such as Home Depot. With this insights, clients can offer merchant rewards on their own credit card motivate the customer to add the FI card to their wallet.