Date: June 30, 2023 Source: Verdict AI is playing a larger role as customers are increasingly expecting more personalized experiences and customer-centric innovations from businesses. Financial institutions have been leveraging artificial intelligence (AI) to develop...
customer experience
Recent Articles
AI-Driven Data as a Service(DaaS): Why data is creating a banking revolution
Date: 12-May-2023 Source: GEC Media Key Takeaways 86% of customers say they would pay a premium to brands that offer a fabulous experience 92% of analytics professionals say their firms need to increase their use of external data sources Only 28% of banks can...
CXaaS: Advanced strategy for revenue acceleration
In today’s attention economy, customers are spoilt for choice. Everybody wants a Spotify/Netflix-like experience with businesses. Did you know that 32 per cent of customers would walk away from a brand after just one negative experience? As the saying goes, fool me...
How to launch a product remotely – Lessons from Lockdown
A story of successful product launch – Our vision here at Crayon Data is to simplify the world’s choices. We believe there is always a simpler way to do things. But the algorithms we work with aren’t always visible to the naked eye. For months we tried over and over...
5 ways to build customer trust (and drive sales)
The Internet is usually treated like the youngest child of a family. They invariably get blamed every time anything breaks down in the household! As an extension of the Internet, e-commerce too received a great deal of suspicion in its early days. Rightfully...
Data as a Service (DaaS): Why data is creating a banking revolution
In today's world, data powers everything we do. Big Data is transforming businesses and lives. It's no longer a futuristic proposition. It's in the here and now! This is a definite superpower in the financial world. Enterprises can put customer data to use, without...
5 ways brands can improve customer experience for end-of-year sales
Most customers tend to splurge only on a few special occasions. Holiday shopping is one such annual splurge they indulge in. Partly due to the practices of e-commerce and departmental store giants, customers have come to expect similar deals from other retailers and...
The Relevance Quotient Report 2020 for banks: the COVID-19 edition
In the wake of the COVID-19 pandemic, consumer trends have changed dramatically across the globe. In the span of a few months, the pandemic influenced people to spend more on essential products and services. Especially, those that were readily available online. The...
3 ways Bazaar can elevate consumer engagement for banks
Customers have alternatives (digital and traditional) for everything from savings accounts and money transfers to loans and credit cards. The market is crowded, the competition, cut-throat. Customers can cherry-pick from them because switching costs are practically...
5 ways in which consumer behavior has changed over the years
Growing up in India in the late 90s and early 2000s, Ed Hardy, FCUK, Aeropostale, and GAP were considered the pinnacle of fashion. We were introduced to these fad brands by extended family members living abroad. Forget fall-winter or spring-summer. Style seasons,...
5 reasons Bazaar is an effective conversion channel for merchants
From our regular conversations with merchants on Bazaar, we gathered that a common problem they face is customer retention. Ashish Nichani, founder of Postcard Snacks, says, “The customer retention costs [for merchants] aren’t going down overtime, especially in...
#CountryInFocus: What you should know about banking personalization in the Philippines
Today’s customers are digital natives. Irrelevance annoys them. Studies show that 85% expect personalized services, while 67% expect personalized experiences. These are not numbers that can be ignored. Banks that are early adopters to the age of relevance can...
Retail 4.0 in India puts the focus on personalization with an offline + online approach
In the first few months of the COVID-19 pandemic, there was over a 100% increase in new seller signups on e-commerce platforms – this registered 4x to 8x sales growth. At the same time, retailers looked for plug-and-play options that would speed up their digital...
Slaves to the Algo: Data culture is just as important as organization culture | Janardhan Cadambi, Mastercard
Data culture is as important as organization culture. But the question remains… how does an organization create it? Who leads it? And why is it important? Janardhan Cadambi (Jana) from Mastercard explains why data standards and principles are just as important, if not...
Three ways AI can make food experiences by digital platforms more appetizing
The COVID-19 pandemic had a dual impact on the food and beverage industry across the world. On one hand, during the beginning of the pandemic, most restaurants, eateries, and cafes had to shut down completely. Now, due to prevailing social distancing rules, many have...
Crayon Data’s Relevance Quotient Report 2020 Explains the Trends and Patterns of Personalized Banking
Singapore/Chennai: Crayon Data, a fast-growing AI and Big Data company, announced the launch of its Relevant Quotient Report to help banks in their personalization journeys. Due to COVID-19, new patterns in consumer purchase trends have put banks and merchants in a...
Crayon Data’s Relevance Quotient Report 2020 Explains the Trends and Patterns of Personalized Banking
Singapore/Chennai: Crayon Data, a fast-growing AI and Big Data company, announced the launch of its Relevant Quotient Report to help banks in their personalization journeys. Due to COVID-19, new patterns in consumer purchase trends have put banks and merchants in a...
EdTech trends: the new age of digital education post COVID-19
COVID-19 has negatively impacted most industries across the globe. There are a few exceptions, of course. One of those exceptions is education tech, or EdTech. While most start-ups around the world struggle to stay afloat, EdTech start-ups are rapidly growing. Right...
The ideal customer journey for digital-first banks: regain share-of-wallet
In this digital age, customers seek enterprises that understand and address their changing needs. In fact, 85% of customers expect personalization.* Banks who can’t meet these expectations risk losing everything. Right from customer data to share-of-wallet. On the...
360° customer experience with personalization
Right now, banks face more competition from non-banking FinTech players than ever before. They have ushered in a new era of relevance and personalized online experiences, that has elevated customer expectations. Due to the competition, banks find it difficult to...
Cultivate relationships with users on your website: 4 simple tactics
Relationships have become a significant factor for success in any venture and knowing how to cultivate it is what separates the truly successful from those who are not. Cultivating a relationship with website users Before the emergence of the internet, which led to...