Virtu Systems told about usage of client’s profile for creation of targeted customer proposal at the forum “Commission incomes of bank 2018” that took place on 15th March 2018

Commercial Director of Virtu Systems Dmitry Chesnokov showed possibilities of the Jarvis platform emphasizing creation of targeted customer proposal at the third All-Russian Bank Forum “Commission incomes of bank 2018” on 15-16 March 2018.

Financial uneasiness of Russian citizens has grown over the years, the importance of every earned ruble has increased over the past four years. During the crises consumers have given up unnecessary costs. Because of it sale process has become more complicated. Today it is not enough to offer a product, it is necessary to find reasons for buying. Such situation forces to get to know clients in order to offer them goods that are appropriate for their demands.

Dmitriy has singled out 4 phases of market transformation on the way toward client’s heart:
1. Digitalization (usage of a digital interface and visualization of contact points).
2. Creation of marketplace (connection of sellers and customers on the one platform).
3. Data analysis (processing and interpretation of data on clients and sales).
4. Support of lifestyle (migration from classical sales to long-term handling).

First two phases have already been passed. Are clients ready for personal data analysis and processing? According to the research of Accenture (Insurance Consumer Trends, 2017) 74 percent of clients would like to get more recommendations on investments that are based on lots of data processing by artificial intelligence (AI). At the same time 65 percent of respondent bank directors and 44 percent of insurance companies see notes of AI in client servicing (AI and You, Deloitte, 2017) and 17 percent of bank directors are ready for customer – oriented model (PwC Banking 2020 Survey). Clients are ready for the dialog more than financial organizations.

There is number of obstacles that hinder developing of customer-oriented approach in whole and application of AI in particular.
1. Specialisation and “Chinese walls” (divisions for sales, internet-bank for remittance).
2. Productive focus (we will invent something within the frameworks of understanding and try to sell it)
3. Distribution of cost-centers (those who work with clients don’t have budgets)
4. Developing of product line without analysis of demands of targeted audience
5. A difficult process of product implementation and sales launching.

In connection with it process of issuance of commission products is still taking place in several systems of different providers. It demands hand-operated process and causes difficulties of maintenance and KPI monitoring.

For optimization of sale process of commission products, it is necessary to have single massive system with an open integration diagram that will allow to save and collect information about a client, his/her buying and connected objects. The Jarvis platform lets collect all partners’ products in one window and issue several products simultaneously. Data accumulation for analysis based on relations of objects from different resources allows to filter partner list and offers only for an appropriate client. Products card can contain sale scripts and references to documents. Jarvis suggests setting aims, draws reports for every product, step of cooperation with a client and offers monitoring in real time. The built-in engine of cross-sale is implemented.

Solution of Virtu Systems suggests configuring products, organizing mutual payments and structuring omnichannel work with customers providing convenient and easy-to-understand tools for sale.