Standard Chartered Taiwan is dedicated to delivering superior customer engagement through advanced analytics and personalised tools.
Standard Chartered Taiwan has clinched the Best Application of Data Analytics award at the 14th Annual Retail Banker International Asia Trailblazer Awards. The accolade recognises the bank’s dedication to delivering superior customer engagement through advanced analytics and personalised tools.
Providing customised banking services requires a thorough understanding of customer preferences, which Standard Chartered Taiwan achieves by collecting data and tailoring its services to meet individual needs. The bank’s proactive approach to delivering data-led personalised services has set it apart from its peers.
Comprehensive analytics
Standard Chartered Taiwan has implemented comprehensive analytics tracking triggers that integrate seamlessly into the customer journey, resulting in meaningful data insights that inform targeted personalisation efforts.
The lender has built an advanced analytics foundation to identify key conversion behaviours and intentions, using in-house and partner data to create unique user segments. Moreover, it has embraced always-on optimisation, delivering highly relevant and tailored banking services.
Real-time access to relevant data sources enables Standard Chartered Taiwan to not only adopt a data-driven approach to customer engagement but also meet the ever-changing expectations of clients in the digital era.
Driving successful outcomes
The lender aims to support financial inclusion and develop strong ecosystems within which its banking services are available to customers regardless of their location or language. To this end, Standard Chartered Taiwan has revamped its public website with a focus on segmented target audiences and on providing personalised content and information that clients can easily comprehend.
This personalised digital experience has resulted in significant business benefits for Standard Chartered Taiwan, including an 81 per cent increase in traffic to product webpages and a 25 per cent decrease in bounce rate.
Staying ahead of the curve
In today’s competitive marketplace, providing contextual customer experiences is no longer optional.
To stay ahead of the curve, Standard Chartered Taiwan has overcome the challenges of delivering personalisation through robust data analytics, continuous refinement of use cases, and accelerated testing and learning. This approach has helped the lender build trust with its clients, leading to improved results and revenue for the organisation.
The introduction of the Agile delivery framework and analytics enabler has drastically shortened the turnaround time for content personalisation and has enabled new engagement channels.
As a result, the bank’s web page traffic for personal loans grew by 50 per cent, while effective leads from its own channels increased by more than 25 per cent in the span of two months.
Standard Chartered Taiwan’s data-driven approach to customer engagement and its commitment to delivering personalised experiences has set a new standard for retail banking in Asia, and is positioning the bank for continued success.