Maturity of customer data: Banco Bradesco
The Brain project by Banco Bradesco wowed us. Qorus and Wavestone ask Janaina Antoniassi, Executive Superintendent at Banco Bradesco how they utilize data in order to enhance their customer experience.
The Brain project by Banco Bradesco wowed us. Qorus and Wavestone ask Janaina Antoniassi, Executive Superintendent at Banco Bradesco how they utilize data in order to enhance their customer experience.
In your opinion, how does the use of data and the personalization of offers and paths respond to development or loyalty issues for your organization? What transformation does this evolution presuppose?
Bradesco is running a huge transformation in the Brazilian credit market. With BRAIN, we are now implementing a data-driven strategy, using more analytics in our decision engine. The bank is able to provide its customers with tailored offers, employing analytics to offer the best solutions, with the fairest rates and the right amount of credit, based on customer credit history. The approval process is now using more intelligence. The BRAIN platform allows us to quickly analyze data to generate decisions, responding to loan applications in real time. The consequences of these efforts are enhancement of customer satisfaction, increase in credit quality and growth of revenues.
What types of data are your personalization use cases based on? How do you enrich them?
Data used in the personalization use cases comes from hundreds of different core systems, external data from bureaus, Brazilian Central Banking, etc. Data is ingested into our Big Data Analytical environment, where we merge the many different inputs, and at the end we have a 360 degree view of our customer profile, risks, assets, etc. With that we are able to make real-time decisions in order to deliver the best credit solution for our customer.
Which data use cases are you particularly proud of? On which customer/employee situation? What are the expected/measured ROI elements?
Since the beginning, we’ve helped our customers with more than 150 initiatives, getting great results. The credit default decreased 41% and digital adoption increased 60% in 2021. The number of transactions in BRAIN are growing exponentially as well, from 30 million in 2020 to 13 billion in 2021. For a traditional bank, these numbers are amazing, and we are so proud to make this revolution in the market.
What are the main obstacles and/or key success factors you are facing in their development and/or deployment?
There are two important game changers for BRAIN: business people driving the digital strategy, putting customers in first perspective, and people – people with purpose, engaged to change lives. Now we have more than 800 ‘brainers’, always thinking about delivering the best experiences. The biggest obstacle, for a traditional bank, is implementing a new culture of work, while keeping the experience and the knowledge from 80 years in the Brazilian market.
More generally, what is your view of your organization's maturity with regard to the personalization of paths and offers? For example, is it ahead of the game or at the state of the art? What are the possible projects that still need to be carried out?
Bradesco is starting the transformation. We did a lot in the last three years and much more is coming, considering new products, pricing, fraud prevention, and compliance. We really believe that we are driving a transformation in the Brazilian credit market. Our goal is to keep enhancing customer experience and changing people’s lives.
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