Categorised Open Banking data to personify your customer approach
Preferred spending categories
Understand spending categories, that your customer prefers based on his previous transactions and them target them in your offers.
Example:
Nick has many purchases in "pet products” category, so offer that products in the first place.
Account balance
Tailor your offer to the client's capabilities based on data from their balances.
Example:
Minimum deposit on your service costs 40 euro, but July has only 30. Offer her a little sale to have the higher convert to the purchase.
Higher conversion dates
Learn the dates when this customer has higher conversion in a purchase based on dates he usually makes purchases and payroll dates and use this data in retention and retargeting tools.
Example:
Pedro gets his salary each on the 5th and 20th date of the month and that leads to higher conversions to purchases in the next 3 days. Send him personal offers in your marketing tools.
Risk insights
Check all sorts of red flags, such as the ratio of spending on gambling to the user's income or high volume of unpaid loans.
Example:
Lara is applying for loan, but based on the something we reccomend something.
Prefil and verify
Increase conversions by automatically filling in forms with Open Banking data.
Example:
By implementing Sign in with Monerchy Ellip Commerce automatically fill in the recipient form from the user's bank details.
