Bangalore, 21st February, 2017
HDFC Bank has chosen Lemnisk's Data and Marketing Platform to help execute its personalized multi-channel engagements beginning with its website. HDFC Bank is the first private bank in India to acknowledge and embrace the role of technology in marketing to create a consistent and personalized experience for its customers across all digital touch points.
“Today’s digital customer connects with our brand at several touch points. And a consistent personalized feel across these interactions is important to amplify our brand recall, drive digital engagement and enhance customer experience. Logically, the starting point for such an experience was the bank's website” said Ashish Morone, Head Marketing & Communications at HDFC Bank.
He further added “Engage has the unique ability to combine online and offline data at a user level and use them in highly flexible personalization frameworks. This was key in executing our digital strategy and helped us increase digital conversions on our website”.
Engage uses a combination of behavioral attributes and CRM data to personalize banners for customers visiting the bank’s website. This has resulted in the overall improvement in the bank’s website user engagement leading to a 4X increase in website lead conversions and 30% reduction in cost-of-acquisition.
“HDFC Bank identified three types of visitors to its website – existing customers, returning prospects and new users. Their objective was to treat each user within a given segment uniquely by creating a relevant and personalized site experience centered on HDFC Bank’s product lines. As a result, we load tens of thousands of variations of the website that drives much better clicks and conversions” said Subra Krishnan, SVP Products at Lemnisk.
Lemnisk’s Customer Data Platform is custom built for the BFSI vertical and includes niche use cases that are very specific to BFSI. It is an atomic technology stack that tightly integrates online and offline user data and multiple marketing channels. With machine learning capabilities, the platform powers user level predictions and 1:1 messaging.
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 37 million customers. As of December 31, 2016, the Bank had a distribution network with 4,555 branches and 12,087 ATMs in 2,597 cities/towns.
Lemnisk is an Intelligent and Secure Customer Data Platform built for Banking, Insurance and financial Services marketers. Marketers leverage Lemnisk to maximize customer engagements and conversions across channels.
The key capabilities include:
- Customer Data Platform that uniquely resolves users across different data sources and channels.
- Custom data models and algorithms created for Banking, Insurance and other Financial Services.
- Intelligent orchestration of each customer’s journey based on one’s propensity towards a marketing channel and delivers higher engagement.
- Hyper-Personalization that creates a unique real-time marketing message and experience for each user across multiple marketing touch-points.
For more information, please visit www.lemnisk.co
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