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Banco de Crédito del Perú Boosts Digital Sales with One-Click Cross-Sell
Technology Category
- Cybersecurity & Privacy - Identity & Authentication Management
Applicable Industries
- Equipment & Machinery
- Finance & Insurance
Applicable Functions
- Procurement
- Sales & Marketing
Use Cases
- Tamper Detection
- Usage-Based Insurance
Services
- Cloud Planning, Design & Implementation Services
- Testing & Certification
The Challenge
Banco de Crédito del Perú (BCP), a leading financial institution in Peru, embarked on a transformation journey to enhance its digital sales and improve customer experience. The bank's digital marketing department sought to increase cross-sell rates and the average number of products per customer. However, they faced challenges in implementing new strategies on the bank's website front end, such as A/B testing with propensity models and maintaining secure lead databases. BCP also recognized the need to simplify the purchasing process for customers, as many people have a negative perception of banks and only purchase their products when necessary. The bank aimed to overcome these challenges in a market that is striving to increase banking penetration to 60% of the country's population in the next few years, amidst a digital transformation accelerated by the COVID-19 pandemic.
About The Customer
Banco de Crédito del Perú (BCP) is a leading provider of integrated financial services in Peru, with a history spanning over 127 years. The bank serves over 13 million customers through a network with more than 8,340 points of contact. BCP offers a range of services, including asset management, exchange transactions, treasury, custody and investment consulting services, and financial research activities. In 2019, BCP embarked on a transformation journey to provide a quality product to its customers that would also allow the company to scale and become more competitive in Peru’s financial market.
The Solution
BCP, in collaboration with Neo Consulting, initiated the One-click cross-sell project, designed to simplify the purchasing process for customers. The project was divided into three phases: identifying the opportunity, developing the architecture using BigQuery, and launching the solution. With direct integration with tools from Cloud Functions, Pub/Sub, BigQuery, and Cloud Scheduler, BCP was able to test and implement this functional solution within days. The solution allows BCP to identify its clients using cookies and link them to propensity models uploaded in the cloud. Customers who already have the cookies no longer have to fill out purchase intent forms, and instead, they express their intention to buy a product with a single click. The bank's channels then validate the identity of leads, process them, and offer the product they requested. The information is encrypted to protect customers' assets.
Operational Impact
Quantitative Benefit
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