DeepTarget Inc., a solution provider that utilizes data mining and machine learning to deliver targeted communications across digital channels for banks and credit unions, announced its use of leading-edge machine learning techniques partnered with historical, proprietary data to help community financial institutions complete more transactions, open more accounts and enhance the quality of the customer and member experience.
Machine learning, a subset of artificial intelligence (AI) involving computer algorithms that improve automatically through experience, has been widely adopted in the financial services industry and has proven successful in helping financial institutions better tailor products and services to consumers. In fact, FinTech News recently highlighted that machine learning offers the financial services industry with “exceptional benefits like more efficient processes, better financial analysis, and customer engagement.”
With it’s rich Digital Experience Platform (DXP) and innovative 3D StoryTeller, DeepTarget is unique in the industry in helping financial institutions design and execute intelligent cross-channel marketing campaigns that leverage the latest machine learning technology. By utilizing a predictive model that targets specific audiences with the highest propensity to purchase a particular product, financial institutions can calculate the likelihood that each user will open a specific account. Combined with the patent-pending 3D StoryTeller capability, financial institutions of all sizes can now drive customer engagement with unique, captivating AI-powered personalized financial stories to individual account holders. This latest innovation inspired by social media is powered by the DeepTarget “brain” – an advanced Digital Experience Platform developed over several years and available already integrated with multiple digital banking systems.
“Delivering rich content and relevant offers are critical to customer success,” said Jill Homan, President of DeepTarget. “Machine learning lets FIs further automate the process, lessening the burden on marketing staff. Utilizing the machine learning model provides complete flexibility for the financial institution to mix and match targeting methods per campaign – either AI, rules, or list-based targeting for truly relevant and human-like engagements. Offering this technology is critical in enabling financial institutions of all sizes to use techniques and insights previously reserved for only the largest institutions.”