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Related Experiment Videos

A Banking Platform to Leverage Data Driven Marketing with Machine Learning.

Marc Torrens1, Amir Tabakovic2

  • 1Department of Operations, Innovation and Data Sciences, ESADE Business School, University Ramon Llull, 08172 Sant Cugat del Vallès, Spain.

Entropy (Basel, Switzerland)
|March 25, 2022
PubMed
Summary

Retail banks can utilize payment data for a competitive edge. A new B2B2C application enables data-driven marketing campaigns, connecting merchants with customers via banking channels while protecting privacy.

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Area of Science:

  • Business and Financial Technology
  • Data Science and Machine Learning
  • Consumer Behavior Analysis

Background:

  • Retail banks possess valuable payment transaction data, a key asset against Fintech and internet company competition.
  • Understanding customer preferences through data is crucial for effective marketing strategies.
  • Existing systems often lack direct channels for banks to leverage customer data for merchant partnerships.

Purpose of the Study:

  • To introduce a B2B2C lead generation application utilizing online banking payment transaction data.
  • To explore how banks can act as intermediaries between customers and merchants for data-driven marketing.
  • To enable merchants to conduct targeted campaigns reaching retail customers through banking channels.

Main Methods:

Keywords:
bankingmachine learningmarketingpayment data

Related Experiment Videos

  • Development of a B2B2C lead generation application integrated with online banking systems.
  • Application of Machine Learning (ML) driven marketing techniques by the bank.
  • Facilitating a data-utility exchange where customers trade transaction data insights for merchant offers.

    • Main Results:

    • Successful creation of a platform for data-driven lead generation within the banking ecosystem.
    • Demonstrated a model where banks leverage ML for marketing to benefit both merchants and retail customers.
    • Established a framework for merchants to access and engage with retail customers through secure banking channels.

    Conclusions:

    • Payment transaction data offers significant competitive advantages for retail banks.
    • The B2B2C application effectively bridges merchants and retail customers, enhancing marketing capabilities.
    • Customer privacy is maintained throughout the data-sharing and marketing process, fostering trust.