Customer segmentation boosts credit card activations 40%
China's credit banking industry entered a period of rapid growth in 2002 as banks established credit card businesses one on top of the other. Since then, they've used large-scale marketing campaigns to grow the number of card holders in the world's most-populated country.
China CITIC Bank looked to SAS and its banking industry expertise for help managing marketing campaigns. Using SAS® Customer Analytics for Banking, China CITIC Bank increased its credit card activation rate by 40 percent – double its goal of 20 percent – in a matter of months. And the bank reduced marketing expenses by 7 percent.
"Big data analytics lets us easily understand all of the data, including macrodata and microdata, social media data, and internal data," says Yuping Liang, General Manager of the card center's risk department. "It transforms large amounts of data into precious insights that maximize our gains."
To achieve its objectives, China CITIC Bank needed to find out how best to:
Activation rates quadruple
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China CITIC Bank
Manage customer relationships more effectively in order to grow the number of active card users.
SAS® Customer Analytics for Banking
Activation rates increased 40 percent in just three months – far exceeding the goal of 20 percent and nearly four times the previous rate; marketing expenses fell 7 percent.
About China CITIC
Founded in 1987, China CITIC Bank is one of the earliest emerging commercial banks established during China's reform and among China's first commercial banks to engage in both domestic and global financial markets.
“Big data analytics lets us easily understand all of the data, including macrodata and microdata, social media data, and internal data. It transforms large amounts of data into precious insights that maximize our gains.”
General Manager, Risk Management Department