Customer 360

By utilizing Customer 360 APIs, businesses can streamline operations, enhance customer experience, and improve decision-making processes across a variety of use cases. These APIs give organizations the tools to harness and integrate customer data in real-time, fostering stronger, more informed customer relationships and improving financial services overall.

1. Customer profile enrichment for personalization

• Use case: Creating a comprehensive customer profile to personalize interactions. Customer 360 API is called to retrieve a complete set of data for a customer, including personal details, product usage, financial status, account balances, and transaction history. This data is used to enrich the customer profile in CRM systems.
• Benefits: Personalizes offers, communication, and recommendations by having a complete understanding of the customer's financial situation, making interactions more relevant and tailored to their needs.

2. Unified customer onboarding

• Use case: Streamlining customer onboarding by fetching all necessary data. During the onboarding process, the Customer 360 API is queried to fetch data across multiple customer accounts (CASA, FD, insurance policies, credit cards, etc.). This information is used to validate customer data, confirm eligibility, and assess risk.
• Benefits: Streamlines onboarding by providing a unified view of the customer's financial profile, allowing for faster verification and product offering.

3. Customer support – real-time account & transaction data

• Use case: Enabling support agents with complete customer data for issue resolution. When a customer contacts the support team regarding an issue with their account, the Customer 360 API is used to retrieve all account details, transactions, and current balances. Support agents use this data to address the customer's concerns, whether it’s regarding overdraft fees, transaction disputes, or loan inquiries.
• Benefits: Provides agents with a 360-degree view of the customer's financial interactions in real-time, improving response time and ensuring more accurate resolutions.

4. Proactive credit risk assessment

• Use case: Assessing the risk profile of a customer before processing financial transactions. The Customer 360 API is queried to retrieve a customer’s credit history, outstanding balances, loan obligations, and transaction behavior. The data is then processed to calculate a risk score for new loan or credit applications.
• Benefits: Helps in making informed decisions before offering loans or extending credit, reducing the risk of defaults and enhancing credit risk management.

5. Cross-selling financial products

• Use case: Targeting customers with relevant product offers based on their financial profile. The Customer 360 API is used to pull detailed transaction data and product usage information. Businesses use this data to segment customers and identify opportunities for cross-selling. For example, a customer with high CASA balances could be offered a high-yield savings product or credit card.
• Benefits: Increases revenue through targeted cross-sell and up-sell strategies, while enhancing customer satisfaction by offering products that align with their financial needs.

6. Overdue payments and debt collection

• Use case: Managing overdue payments and optimizing debt collection processes. Customer 360 API is called to retrieve overdue amounts, outstanding loan payments, and overdue transaction alerts. The data platform processes this to identify customers with overdue payments across different accounts (CASA, credit card, loans).
• Benefits: Automates reminders, escalations, and customer follow-ups regarding overdue payments, improving debt recovery processes and minimizing late payment risk.

7. Dynamic customer segmentation for targeted marketing

• Use case: Segmenting customers dynamically for marketing campaigns. The Customer 360 API provides access to rich data, such as transaction history, product usage, credit limits, and outstanding balances. The marketing platform uses this data to segment customers into different categories, e.g., high-value customers, frequent spenders, or customers with overdue payments.
• Benefits: Enables businesses to create more precise and personalized marketing campaigns, increasing engagement and conversion rates.

8. Loan portfolio management

• Use case: Tracking and managing customer loan portfolios. The Customer 360 API retrieves detailed information about the customer’s existing loans, repayments, overdue balances, and related collateral. This data is used by loan managers to assess portfolio performance, identify at-risk loans, and generate automated alerts for overdue loans.
• Benefits: Allows for better loan portfolio monitoring, helping identify early signs of defaults or financial stress in customers, thus enabling timely intervention.

9. Real-time transaction monitoring

• Use case: Monitoring customer transactions in real-time for fraud prevention. The Customer 360 API continuously pulls transaction data from multiple customer accounts (bank, credit card, loan accounts, etc.). The system analyzes this data in real-time to detect fraudulent activities such as unexpected large withdrawals, rapid transaction patterns, or spending inconsistencies.
• Benefits: Helps to detect fraud in real-time and send immediate alerts to both the customer and the bank, reducing potential losses and preventing fraudulent activities.

10. Customer loyalty and rewards programs

• Use case: Automating rewards and loyalty benefits based on customer behavior. The Customer 360 API is queried to assess customer spending, transaction frequency, and product engagement. Customers who meet certain criteria, such as frequent transactions or high account balances, are rewarded with points, discounts, or special offers.
• Benefits: Increases customer engagement and loyalty by offering rewards that are based on real and actionable financial behaviors.

11. Customer financial health check

• Use case: Offering financial advice or health check-ups based on customer data. The Customer 360 API is used to analyze the customer’s financial profile, including debt-to-income ratio, savings, and investment activities. Based on this data, a system can recommend actions, such as reducing debt, increasing savings, or investing in specific products.
• Benefits: Helps customers improve their financial well-being and enables businesses to provide value-added services, enhancing customer retention and satisfaction.