Chillr's Digital Transformation: Leveraging Business Intelligence for Micro-Moments in Financial Services

• Analytics & Modeling - Big Data Analytics
• Robots - Wheeled Robots

• Finance & Insurance
• Telecommunications

• Sales & Marketing

• Machine to Machine Payments

India's recent digital revolution brought the banking and financial services industry into the digital fold for the first time. Chillr, a multibank payments app, was faced with the unique challenge of educating and encouraging users with no digital banking history to perform banking transactions on their mobile. The objective was to identify digital micro-moments in financial services to develop an engagement plan that encourages users to go digital and make Chillr synonymous with digital transactions, while providing a host of value additions for the user.

Chillr's customers are primarily Indian mobile users who are new to digital banking. These users are targeted for various financial transactions such as recharge, money transfer, bill payment, account management, and UPI. Chillr aims to become a lifestyle app for these users, providing a platform for purchases, bill splitting, and money transfers. The company also seeks to engage with users on a personalized level, using business intelligence to analyze transaction comments and create unique customer profiles. This allows Chillr to provide personalized suggestions and reminders, enhancing user engagement and convenience.

Chillr employed business intelligence and analytics to understand financial-transaction trends in India. This allowed them to identify and target transactions like recharge, money transfer, bill payment, account management, UPI, etc. Chillr aimed to go beyond financial transactions alone and become the sought after lifestyle app for the Indian mobile user. They provided a platform to make purchases, split bills with friends/colleagues and receive/transfer money from/to phone contacts, bringing convenience to users at their fingertips. Chillr also interacted with users on a bespoke level to provide personalized suggestions for deeper engagement. Transactions done on Chillr were analyzed for comments included by the user. Using Business Intelligence, Chillr mapped key-words in these comments to create a unique customer profile. Once these key micro-moments were identified, Chillr leveraged cross-channel messaging from MoEngage to deliver superior and personalized engagement with every user.

• Chillr's use of business intelligence and cross-channel marketing has resulted in a significant increase in user engagement and retention. By identifying key micro-moments and providing personalized suggestions and reminders, Chillr has been able to encourage users to perform more transactions on their app. The company has also successfully positioned itself as a lifestyle app, offering a range of services beyond just financial transactions. This has brought convenience to users' fingertips, making digital banking more accessible and appealing to a wider audience. The use of different communication channels - emails, in-app messages, mobile push, and SMSs - has also ensured that users receive timely reminders, further enhancing user engagement and satisfaction.

• 23% Increase in monthly transactions on the Chillr app.
• 60% Retention and above during the first month.
• 14% and above conversion rate for push notification reminders.