Insight undertook this project as a healthcheck for an existing Debit product where the Issuer was experiencing low activation and retention as well as high ATM usage
Through both on-site interviews and analysis of data provided, Insight reviewed and evaluated the following areas:
Detailed recommendations and suggestions for both short-term fixes and provided a mid to long-term strategy for the product.
The Bank was keen to grow their business and establish appropriate marketing capabilities and portfolio management activities are a pre-requisite to this. Our challenge was to provide the Bank with a detailed understanding of its portfolio, particularly in respect of customer behaviour, to help it prioritise opportunities for growth and articulate what measures need to be taken to achieve that growth.
The key deliverables of the engagement were as follows:
The client, a major global bank, recognised that its marketing staff lacked structure and knowledge in order to optimise customer lifecycle management activities across its debit and credit portfolios.
Identified 4 key markets (Egypt, Mauritius, Kenya, Botswana) and sought a consistent but market-customised set of tools to automate the decision making process for CLM marketing initiatives by stage/customer behaviour across its card products.
A series of tools to assist staff in understanding and executing CLM activities for each of the 4 markets and 4 key stages of CLM, encompassing:
Consistent customer comms, improved customer engagement and ultimately better portfolio profitability.
We recommended to our client, a leading card payments processor, a series of training courses and webinars for their staff to help them understand the issues and opportunities their own clients face, to ensure all areas of their business have a common level of understanding and are client focussed.
We developed a series of training courses to specifically meet the training needs of our client. The 2 day Acquiring workshop formed part of this suite of educational courses.
The workshop was a simulation based workshop which enables individuals to be able to experience what it is like to launch and manage their own payment product. They combine theory with practical group activities that encourage collaboration, teamwork and decision making. In our experience, this introduces an element of interactivity and team competition that takes our training to a different level. The 2 day acquiring workshop covered the following:
Workshop run in 3 different locations, 100 employees, to ensure all employees understand fundamental flows and financial dynamics.
A major Indonesian issuer sought an independent review of their Campaign Management processes. We undertook a Healthcheck across their entire credit card portfolio, reviewing their current use of segmentation in developing marketing campaigns, their existing internal processes for campaign development and management, and their pre and post campaign financial modelling and analytics.
Through both on-site interviews and extensive data analysis, Insight reviewed and evaluated the following areas against industry best-in-class examples:
We delivered diagnosis and interim findings (on-site) and delivery of a final report with detailed recommendations. The final report provided, amongst other things, the relative ease-of-implementation and proposed prioritisation for each recommendation together with a set of detailed appendices with supporting information to assist the client during implementation.
Key errors in modelling identified and rectified enabling better decision making around campaign effectiveness.
Our objective in working with our client (a Caribbean Bank) was to help them in achieving their goal of acquiring 20,000 cards in a year while structuring sales channels for consistent growth in acquisition. The initial stage of our effort focused on optimizing their Sales Agents and Branch acquisitions though a Sales optimisation program with integrated training and development.
Insight approached this opportunity in 3 phases as follows:
Successful first quarter sales campaign with significant uplift on prior trend and momentum build through sales force and branch sales development
The Bank had an underperforming issuing and acquiring book despite a market-dominant position and wanted to explore opportunities to revitalise the card issuing portfolio as well as examine strategies for the strengthening of its merchant acquiring business to compete both in the domestic market and prepare for cross-border acquiring.
Insight advised the bank through a detailed Healthcheck approach. A strong financial model was key to the success of the 4 key deliverables below:
Identification of deficiencies and missed opportunities in the home acquiring market led to a new pricing strategy and improvement of sales processes. Issuing book was optimised and incremental income opportunities exploited.
Insight worked with our client, a large issuer, to determine if they should re-launch an existing loyalty programme or if they should design and launch a new loyalty solution. The client had several challenges relating to the relevance/appeal of the current programme as well as the devaluation of points accumulated due to market forces
We used our proven methodology and team of SMEs to help deliver a phased and analytical approach to support the banks decision based on a combination of:
New Loyalty strategy developed adding important dimensions of multi-merchant discounts, cross-product and multi-channel rewards
This was part of a series of successful credit risk workshops we have run for our client, a large Global Bank throughout Europe and the African Region over several years. The workshops are designed to formalise learning among established credit risk professionals within the bank to ensure a consistent understanding across the organisation as well as act as part of the induction process for new employees in the credit risk area.
We administered and delivered a 2-day workshop which included a simulation and presentations for our client in Cairo, Egypt. The simulation ran over a five-year period and participants made a series of decisions related to strategy, marketing, risk and operations for each simulated year with the objective to create the most profitable card program.
The workshop included the following modules:
Feedback from the delegates was extremely positive, with all attendee completing a feedback form. The overall rating for the workshop was 4.65 out of 5 and our consultant’s knowledge of the subject scored 4.85. 100% of attendees said they would recommend Insight for future workshops.