Customisation of financial services for social innovation in Regional Australia

Our partner

  • Hume Building Society (North-East Victoria / New South Wales)

Industry

  • Banking

Devices used

  • PC

Project overview

This project focuses on analytics and business intelligence to improve the delivery of financial services in Regional Australia. The project’s goals are to understand community needs by incorporating customer demographics and customer focussed data.

We’re helping the Hume Building Society to increase their understanding of the banking and finance needs of their customers and Albury-Wodonga community.  We’re providing training to Hume personnel in modelling customer data using intelligent data mining techniques. We’re also providing other services such as:

  • customer churn rate analysis
  • frequency vs recency analysis
  • product association analysis
  • increasing customer share
  • channel trend analysis
  • preliminary loan default behaviour analysis.

Outcome

This project will reduce Hume’s Customer Relationship Management (CRM) costs by streamlining the packaging of their financial products and creating focussed targeting of customers. It will help the organisation plan their branch network and internet services more effectively to meet the needs of the community.