Forte Wares, releases ready-to-ware Credit Card analytics solution

06 March 2014

The solutions division of Forte Consultancy Group today announced release of a new plug-and-play solution for segmenting and predicting behavior of credit card customers for the financial service providers.

With what the company calls a 'ReadyWare', credit card providers will gain a 360-degree view of their customers for more pro-active marketing activities in a matter of days.

The new ReadyWare addresses most critical credit card marketing challenges through built-in segmentation, attrition prediction and usage propensity models, such as:

* Pro-actively retaining high value cardholders who have high attrition risk

* Customizing offerings based on cardholder profile and lifestyle

* Pro-actively stimulating spend and preferred behavior, such as

* Cross-selling second or supplementary cards to single cardholders with high potential

* Identifying and addressing customers with decreasing spend and those that are occasional users

* Motivating cash withdrawal and installments for customers who are likely to increase their profitability through them

* Motivating revolving behavior for customers with low risk to increase spend over time

Ali Pirinccioglu, General Manager of Forte Consultancy Group, explained the rationale behind the new solution as, "Our consultancy team has completed at least a dozen customer analytics projects for credit card providers across Europe and Asia, in just the last 2 years. In almost all cases our clients demanded solutions that can be implemented fast enough to react to changing market conditions but were also cost efficient enough to keep their short term profitability at bay. The collaboration between our consultancy and development teams helped us build such a solution, which can be deployed in a matter of days and provide answers to most common analytical CRM needs of credit card providers.". Berkin Ozmen, Forte Wares' Managing Partner added, "Our team's learnings from working with the leading credit card providers across our region have been extremely valuable for us. We were not only able to come up with the most sought after analyses and models, but had the chance to test our new solution against real world scenarios before releasing it into the market."

Forte expects the ReadyWare to be especially attractive for banks which currently have limited to no data mining software and models in place, as it would give an instant boost to CRM capabilities. Yet, Mr. Ozmen suggests that "Even companies in more advanced states can benefit from our ReadyWare, as it would provide them a quick and low-cost opportunity to challenge their existing models, which can be worth millions on its own."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development