Clovity’s IoT and Mobility Roll-out Solutions Help Leading North American Bank Achieve 65% Operational Cost Savings
The Bank's Challenge
A well-known bank in North America wanted to create a round-the-clock automated concierge service for it's wealth management customers, who could use it to check their funds and change credit limits while travelling. They could also get real-time account information when they were at non-home locations.
While the customers would undeniably benefit from this development, the bank, too, would reduce operational costs, since clients would be less dependent on customer care for these tasks. However, it also meant that with the integrated systems in place, the bank’s software would be making judgement decisions based upon the geo-position and 360 degree relationships of the client.
The Clovity Solution
Clovity leveraged it's Studios’ deep understanding of IoT, Mobility, AI-based decision making, Core Banking, and CRM to roll-out a system that automated tracking, push notifications, and real-time changing of credit limit.
When they were leaving the airport, the bank’s wealth management customer received notifications on their beacon cards and mobility devices. They were also informed of a temporary increase limit in credit limit when they were at a boutique store. Thanks to this intuitive system, customers are now able to engage with the bank as their personal assistant over the course of their entire journey.