Sector: Retail & SME Banking
Capability: SME Data & Analytics
Service: Propensity Modelling
Situation: The Head of Products and Lending asked Laeceum to help identify high propensity switchers as part of its participation into the RBS Incentivised Switching Scheme. The team developed a proprietary algorithm comprising 10 individual factors which were then flexed to suit the profile of a defined target customer persona that was pieced together using internal data and an outside-in view provided by the Laeceum team.
Impact: Following intensive development and testing, the algorithm was deployed at periodic intervals within the UK SME universe. The results were shared with the client by way of a secure file transfer protocol. A constant feedback and iteration loop would ensure that the algorithm received the necessary modifications to maintain efficacy.