Table of Contents

Best practices for configuring the business structure

The following table shows the best practice business structure for a Financial Services application.

Priority Issue name Issue description Group name Group description Sample propositions
1 Collections Recommendations for customers who are are currently in arrears, or are at high risk or entering arrears. Pre-collection Recommendations for customers at risk of entering arrears.
  • "It's time to reduce your high balance"
  • "Setup autopay today!"
  • "Call us if you are experiencing financial difficulty, we can help"
Post-collection Recommendations for customers in arrears.  
  • "Please pay your amount due"
  • "Call us"
Payment plans Personalized repayment plans based on outstanding balance and credit risk. Includes logic to determine if interest or principal forgiveness is appropriate.
  • "Here is a plan to pay weekly"
  • "Call us to find out about reducing your balance"
2 Service Servicing activities appropriate for or pending with this customer as this time. Account Account-related servicing recommendations for the customer.
  • "Would you like to increase your credit line?"
  • "Setup auto-pay"
  • "Would you like to add a beneficiary?"
Customer Customer-related servicing recommendations.
  • "We need your updated address"
  • "Missing contact information"
  • "Would you like to complete the issue you started on call center?"
3 Retention Retention actions for customers with a high churn risk (that is, likely to close account or reduce business with the bank). Proactive The customer is at high risk of reducing product holdings, or reducing engagement with the bank.
  • "Here is an offer for twice the points you usually receive on your card"
Reactive The customer has shown a reduced activity with the bank, or closed an account.
  • "We want you back, here is a special offer"
4 Sales Sales offers and messages for customers and prospects. This includes upsell, cross-sell, and standard messages. Home loans Specific offers for collateralized loans in real estate.
  • "FirstMortgage30yr"
Auto loans Specific offers for collateralized loans for automobiles and other transport.
  • "Personalized loan for you - 48 months at 8% APR"
Personal loans Non-collateralized loans for individuals (not corporations).
  • "Unsecured personal loan"
Personal cards Credit card offers for individuals (not corporations).
  • "WorldMastercard"
Personal deposits Savings, checking, and other deposit account offers.
  • "PremiumChecking"
Insurance products Insurance products (applicable outside North America).
  • "Home Insurance"
  • "Travel cancellation insurance"
Brokerage Investment product offers.
  • "Investment account" 
  • "Rollover IRA"
5 Bundles Product packages for customers who are candidates for right-sizing (that is, bundling, increasing share of wallet). Home loans The primary product is a home loan with ancillary products.
  • "FirstMortgage30yr"
Auto loans The primary product is an auto loan with ancillary products.
  • "Used48Mo"
Credit cards The primary product is a credit card with ancillary products.
  • "WorldMastercard"
Deposit accounts The primary product is a deposit account with ancillary products.
  • "PremiumChecking"
Insurance The primary product is insurance with ancillary products.
  • "Home Insurance"
Brokerage The primary product is an investment offer with ancillary products.
  • "Rollover IRA"
6 Nurture Messages that enhance customer engagement by highlight the benefits of current product holdings. General General messages for customer engagement. "Welcome to U+ Bank"
Home loans Messages to increase customer engagement with home loan products. "FirstMortgage30yr"
Auto loans Messages to increase customer engagement with auto loan products.
  • "We have partnered with GEICO for insurance"
Credit cards Messages to increase customer engagement with credit card products.
  • "Your card does not incur FX fees"
Deposit accounts Messages to increase customer engagement with deposit account products.
  • "Did you know we have over 10 000 ATMs nationally?"
Brokerage Messages to increase customer engagement with investment products.
  • "Adding a beneficiary is a good way to…"

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