TMB Analytics by TMB Bank awarded Best Innovation Centre by Financial Institution in Thailand at Thailand Financial Technology Innovation Awards Programme 2019
- TMB Analytics plays a critical role in improving customer journeys through new services and effective insights derived from data analytics
- The centre launched several new initiatives including corporate analytics toolkit, mortgage reappraisal with prediction accuracy of 90% and SME income estimation
- The centre enabled better customer insights from data and analytics improving their experience and sales
Bangkok May 31st 2019–TMB Analytics by TMB Bank was awarded Best Innovation Centre by Financial Institution in Thailand at Thailand Financial Technology Innovation Awards Programme 2019. The awards ceremony was held in conjunction with The Future of Finance Summit, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La, Bangkok on May 31st 2019.
Standing from left: Neeti Aggarwal, Senior Manager Research, The Asian Banker; Naris Sathapholdeja, Head of TMB Analytics, TMB Bank; David Gyori, International Resource Director, The Asian Banker; Richard Hartung, International Resource Director, The Asian Banker.
TMB Analytics plays a critical role in improving customer journeys with new services and effective insights derived from data analytics
Established in 2017, TMB Analytics reports directly to CEO and focuses on enabling business across the bank including retail banking, small and medium enterprises (SME) and wholesale banking through data analytics and technology solutions. It works closely with different business units within the bank to develop new solutions that improve customer experience, and seamlessly integrated big data and data warehouse to direct marketing campaigns for customers.
The centre launched several new initiatives including corporate analytics toolkit, mortgage reappraisal with prediction accuracy of 90% and SME income estimation
The centre developed several initiatives. Firstly, it launched the digital platform called ‘Corporate Analyst Toolkit’ that provided industry insights to SMEs and corporate customers, enabling a virtual business matching platform with over 5000 active users per month and 90% adoption rate. This facilitated the bank to improve its relationship with customers and also bring new customers to their platform.
Secondly, the centre developed an automated property valuation platform ‘Mortgage reappraisal’ using machine learning with 90% prediction accuracy in valuation, enabling better credit risk management.Besides this it had another solution for predicting SME customer's sales revenue from transactional data with income accuracy of 70% enabling the bank to offer them credit without requiring additional customer's document.
The centre enabled better customer insights from data and analytics improving their experience and sales
Using customers’ data and behaviour analytics the bank was able to provide personalised ‘next best offer’, improving the conversion rate by 20%. It also implemented an artificial intelligence driven solution to improve contact centre efficiency with better understanding of customers and real-time sentiment and context analytics, reducing wait time at IVR and manual processes. This facilitated the bank to improve its customer service experience. Besides these, the centre is also developing a RoboAdvisory platform. Overall, the centre’s various unique digital, analytics based initiatives improved customer journeys and also engagement with the bank.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website iswww.theasianbanker.com
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For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker