Plink Qorus Banking Innovation Awards 2018 - Winner

Plink is a platform that brings together two main players - merchants and consumers - providing value to both based on the vast amount and richness of data Bancolombia has on Colombian consumers and retail businesses, and our analytics and AI capabilities. For the merchants Plink provides access to a wealth of information on the health of their business, how their sales are evolving, how they compare with their competitors, who their customers are (demographics, income, profession, etc.), where they live (through heat maps of their customers locations), purchasing habits, etc. All in very powerful graphics, very easy to read and interpret, in order to take help them take the best decisions on their business. And on top of receiving critical this information, they can "upload" offers to Plink, like a special discount using a particular payment type on a particular day of the week. Plink, using a machine learning algorithm, pushes each offer to the "right customers". Since we know the habits of 10 million customers of Bancolombia, we send the right offers to the relevant customers only, via the Plink app. E.g. if Peter typically buys movie tickets, he will most likely receive movie theater offers, and he might not receive live music concerts if he that is not in his preferences profile. Based on a rating system on the app, and on actual redemption of offers, the ML algorithm will learn and refine preferences profiles. Monetization comes from merchants: we provide a freemium model, with a basic tier of reports for free, and more advanced reports for a monthly fee. User will never pay to access the offers.