Retain and Grow the Value of New Customers
BAI studies reveal attrition rates during the first three months of an account's life span can be up to two times higher than attrition from accounts half a year old or older. These studies further expose that almost 75 percent of all cross-sales from new retail checking accounts take place within three months of an account opening. Yet despite these alarming realities, few bankers react to the subtle clues that indicate new account attrition risk, or detect the cross-sell opportunities that exist in the critical first months of the relationship, under-realizing the revenue potential of those customers.

Unica's Affinium On-Boarding Solution delivers the tools you need to monitor new customer activities and ensure that your products and services are adopted and new customers are transacting as expected. The solution gives you the intelligence you need to effectively cement relationships and quickly intervene when necessary to reduce attrition or close on cross-selling opportunities.

The Affinium On-Boarding Solution serves like a 24x7 detective, continuously sifting customer data and seeking triggers that indicate a wrong product or service fit, a new product or service need, a defection threat, or new account fraud. Plus, the complete solution gives you the power to automatically execute against these opportunities and to track and measure your success.

Quickly Respond to Unexpected Activities
Most on-boarding systems fail because all they do is contact customers on regular intervals during the first few months of a new relationship. The Affinium On-Boarding Solution picks up where these simplistic systems leave off. In addition to coordinating and managing all outreach activities, the solution provides the monitoring tools to assure checks have been received, cards are being used, online banking has been accessed, and that direct deposits have been successfully transferred. Moreover, our Affinium On-Boarding Solution can directly alert your bankers, or automatically email your customers, whenever balance and volume fee thresholds are approaching, minimizing customer fee surprises and allowing you to proactively fit new customers into a more appropriate product package. These alerts are customized for each individual, automatically detecting when you should intervene and then automating the execution with campaign management. For example, call center sales reps can be notified to make an outbound call when a new high value customer approaches his monthly ATM withdrawal threshold.

Optimize Cross-Sell Timing and Results
Customers often signal when the time is right for a cross-sell offer through changes in transaction behavior, and similarly indicate the opportune time for an intervention that could reverse an intention to defect. The Affinium On-Boarding Solution creates selflearning behavior patterns for each new customer using a patented approach to map the behavior of your entire customer base at an individual level–establishing the upper and lower bounds of each customer's “normal” activity. When a customer's transaction activity exceeds these bounds, your bankers are immediately notified of the event so they can proactively engage in meaningful, timely dialog. This monitoring capability extends to complex sequences of events over time, as well as detecting the absence of an expected event (e.g., a second deposit within two weeks).

Out-of-the-Box Functionality
The Affinium On-Boarding Solution includes a packaged library of over twenty “triggers” that make it easy to implement, modify, and extend business rules to meet your specific onboarding needs. We even give you the tools to define your own on-boarding triggers so you can quicky and simply customize trigger profiles and establish the exact circumstances under which on-boarding triggers fire. Plus, the “gold standard” of campaign management and lead management capabilities, automate the prioritization and follow-up on identified opportunities and let you easily track and measure results.

To learn more about Unica's Affinium solutions, click here.