New AI solution aims to help Resona Bank enhance customer-facing services

Maria Nikolova

The bank is co-operating with Teradata to build a new AI-based marketing engine.

Japan’s Resona Bank, controlled by Resona Holdings Inc (TYO:8308), has taken another step towards embracing artificial intelligence (AI) technologies. The company has announced a partnership with data analysis expert Teradata, with the collaboration dedicated to the building of a next-generation marketing engine.

The aim is to provide each customer with information and services tailored to their specific needs. The new marketing engine will analyze the data of each customer and will provide specific information and proposals according to the individual customer data anytime and anywhere.

The goals of the joint project include optimization of business operations via the use of AI technology and developing a sophisticated customer analysis by using digital data. The one-to-one marketing techniques are also set to be taken to the next level.

Resona Bank has adopted the “Customer Interaction Manager (CIM)”, the main product of “Teradata Customer Journey solution”. In addition, the bank is building a hybrid marketing environment by linking CIM to cloud services.

Teradata Customer Journey Analytic Solution is a complete set of capabilities for discerning the behavioral paths of each individual customer, determining the next best interaction and delivering a consistent, personalized brand experience. The solution uses Teradata’s consulting services, as well as technologies that enable real-time customer data integration, advanced behavioral analytics and multi-channel marketing automation. It enables CMOs to move beyond old school one-to-one marketing tactics that rely on purchases and traditional customer profiling. The insights resulting from Teradata’s Customer Journey Analytic Solution enable marketers to optimize objectives such as response and conversion rates, service delivery, churn, and customer satisfaction – leading directly to high-impact business outcomes such as increased revenue and customer retention.

This is not the first time that Resona seeks to use AI solutions to enhance its customer-facing services. In June last year, the bank said it will be using an AI engine that works 4,000 faster than humans and this solution will be implemented in the company’s customer service department.

KIBIT, an AI solution developed by FRONTEO Inc (TYO:2158), analyses interview transcripts, such as those of exchanges between Resona Bank branch officers and customers, enabling the company to respond to customer needs quickly and efficiently.

The volume of interview transcripts at Resona Bank branches has grown exponentially. Previously, these were sorted manually by staff members and forwarded to the relevant department for follow-up but the method required a great deal of time to verify contents and resulted in variations in sorting. Thanks to the adoption of KIBIT, Resona Bank aims to be able to sort and respond to questionnaires efficiently and with high precision.

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