Banking News

BUSINESSNEXT Introduces DATANEXT Banking Edition for Smarter Banking

BUSINESSNEXT Introduces DATANEXT Banking Edition for Smarter Banking

Full Stack AI & Big Data Platform elevates CX to next level

BUSINESSNEXT, a universe of composable enterprise solutions to banks and financial services, announced the launch of the DATANEXT banking edition. The unified platform brings the Data Studio, AI Studio, and Augmented Analytics together to enable the banks to achieve transformative CX. Data Studio transforms the data deluge (high velocity, volume, and variety of customer data) that banks experience, and the AI Studio is capable of extracting actionable insights that banks can leverage to deliver relevant, and personalized customer experiences. The studios are powered by Augmented Analytics that analyzes streaming data in real-time empowering banks to significantly boost productivity and customer experience.

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The AI-powered platform will end the struggle banks and financial institutions face in the following areas:

  • Lead scoring
    • Score leads to identify potential conversion impacting the bank’s ROI.
  • Customer Churn Probability
    • Identifies and analyses potential churn enabling banks to implement targeted engagement strategies.
  • Customer Lifetime Value & Future Profitability
    • Assists in evaluating and retaining customers with a high future value via precise targeting.
  • Next Best Action
    • Suggests actions determined via data analytics, machine learning algorithms, and predictive modeling to achieve increased customer engagement, loyalty, or conversion.
  • Customer Segmentation
    • Helps create targeted marketing campaigns to meet the unique needs of each segment, leading to effective & efficient use of marketing resources, and improving overall business performance.
  • Text Classification & Entity extraction
    • Captures, extracts, and define the intent from large unstructured textual data, automating information for taking action in a short span.
  • Customer Interaction Channel
    • Evaluates and measure each customer interaction channel for their efficiency and preference for expert customer care.

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Commenting on the launch, Vishal Pruthi, SVP & Head Southeast Asia, BUSINESSNEXT said, “The DATANEXT is a real-time deep-tech collaboration technology built on generational AI that powers enterprises and delivers AI First Banking. With DATANEXT, enterprises can enable rapid innovation, uncover high value, unrealized opportunities and boost revenues with lower costs. It accurately aligns business performance with technology, enable personalization at-scale, deliver smarter omnichannel experiences and accelerate own transformation into an intelligent enterprise.”

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