Banking & Finance

Financial services businesses are being disrupted by fintech and insuretech competition who are building challenger backs and digital propositions. They are doing this without the overheads and existing cost structure of the traditional banks and moving quickly into the encumbents markets. The incumbents therefore need to respond with better digital propositions in order to keep their customers.

A pillar to building a truly digital experience is to personalise, to look at how customers are interacting with your business and tailoring the service and recommendations accordingly.

Likewise, there are many opportunities to identify negative situations such as disgruntled or vulnerable customers and step in before the customer is lost or regulatory requirements are met.

Example Use Cases

Timeflow integrates with a range of websites, applications, APIs and other data sources across your business to identify and respond to key situations of interest. Examples specific to this industry include:

Example 1 – Transaction Monitoring

A customer attempts to make a payment. We notice that the transaction is large relative to their history and the user is accessing from a different country. We therefore issue an additional fraud check on the payment.

Example 2 – Vulnerable Cusomers

An elderley customer suddenly begins making large transactions and then slipping into financial difficulties. An alert is raised to the relevant team. This also fulfils regulatory and social responsibility.

Example 3 – Customer Complaints

A customer has complained 3 times in one year. They are identified as a high value customer. Therefore, this is raised through human workflow to be investigated and remediated by an account manager.