In financial industry scenario, with many different players - banking, fintechs and even retail industries - offering financial solutions, we need to provide a unique experience. Bradesco, one of the major Brazilian banks with almost 77 million customers, more than 85 thousand customer services points and 15 million accesses in mobile banking per day, understands that. For Bradesco, it is important to be a “life centric banking”, focused on customer needs along life journey, which is possible using technology as an enabler to understand customer voice and using data insights to create hyper-personalized experiences.

Hyper-personalization refers to a thorough and nuanced understanding of each customer's needs, preferences, and behavior. Banks are working in boosting data and analytics to improve this understanding about their customers. It allows banks to offer targeted services and products that are tailored to the individual customer, resulting in a more engaging and satisfactory customer experience. In other words, hyper-personalization is ultra-precise messaging and personalization in near real time and, for delivering this, they use machine learning (ML), advanced analytics and artificial intelligence (AI) to process recent customer activity, events, and real-time sinals.

For Bradesco, this strategy makes it possible to display relevant content, products, services, and information to each individual user and it can enable experiences that allow more and better interactions through personalized value propositions in all relationship channels, but mainly in mobile and IB - customer preferred channels - that corresponds for 93% of total transactions of the bank.

Some of the solutions offered in our digital channels are:

• An advanced CRM solution called CRM 2.0, a platform that integrates several channels to offer the best product / service based on customer behavior in digital channel, adding data from Open Finance. It understands customer interaction in a journey, and it offers the best choices, in the appropriate channel, next time the customer interacts with the bank.

• For customers that have an investor profile, Bradesco offers the solution “Recommended for you”, which makes recommendations in the investment portfolio, based on other customers that have similar profile. The journey is easy and intuitive, and by accepting the recommendations, customer can directly apply to invest in different wealth products.

• To strengthen our relationship with ‘Prime’ customers (high income customers), going beyond banking services, the solution “Prime Travel” offers a unique experience that consolidates benefits during a trip, from the planning, going through the travel itself until offering experiences in the city being visited, with all advantages and benefits by integration with partners.

Customer insights have established a competitive differential and a new level for the Brazilian banking industry, rewriting the dynamics of the bank’s relationship with its customers.

These initiatives strongly work on hyper-personalization of customer services in mobile phone through the usage of analytics, models, market platforms, cloud infrastructure (SaaS) and artificial intelligence. All solutions were developed based on customer centricity principles and in an agile model with fusion teams composed of professionals from different areas including IT, Business, UX, CRM, data specialists and partners in different industries to offer a complete journey.

This way, we are evolving from mass-oriented offers to hyper-personalization according to customer profile, capturing their actions/needs and using propensity models (inclination of a customer to acquire some product).

More about the cases:

With “CRM 2.0” strategy, we segment the offers according to the profile and data of each customer, capturing their needs by the characteristics of their navigation through our channels, and we prioritize the offer of the product sought in near real time and in the best channel for the client. Actions based on customer behavior changed their interaction with our offers, increasing sales conversion by 4 times.

“Recommended for you” in investments was used by more than 100 thousand customers. The friendly journey brings up to 4 products recommended for the client’s profile, it also analyzes the investment products that the customer already has in his portfolio. The customer can choose to invest in all products at once or to select one specific recommended product, going through a frictionless journey to opt-in for the investment solution. Currently, also available in the app are other recommended products according to the client’s consumption behavior propensity. He also has an option to “talk to an investment specialist”, for advisory service.

“Prime Travel” is an example of a service that was created hearing customers feedbacks. For this implementation, several surveys were conducted that highlighted their rising interest in experiences involving travel. A specific “Prime Travel” area was developed in the app, integrating platforms of commercial partners (websites of hotels, stores, restaurants), and adding functions such as location, services, and analytical intelligence to customize the experience according to each trip, current account movements and consumption.

During the app journey, customers can plan their trip using benefits in tickets, hotels reservations, car rental, VIP rooms, and preferred check-ins. When in the city, they can access benefits related to restaurants, spas, stores and so on. There are several amenities and benefits in a very organized and easy way. “Prime Viagens” has the potential to expand relationship, proving more than traditional financial services, in an integrated digital platform. The initiative also opens new opportunities to offer contextual products, such as travel insurance, currency exchange services and credit products. Integrated journeys between bank and personal life, leverages business, opens opportunities in other segments and promotes integration that adds real value to people and companies.

We highlight the relevance of this innovation in three major pillars:

• Customer centrality from conception to the realization of active approaches. Usage of advanced software, customer voice and data/analytics to design new solutions to provide more customizations and strengthen our relationships with clients – who are even more demanding and digital.

• Combination of customer voice with the use of data intelligence through metrics that guide decision-making process.

• Cultural transformation - a large traditional bank acting collaboratively, using agile methodology, oriented to customer journey view, and experience view more than the product itself.

More on track

Besides these initiatives, there are other solutions in the same way, such as Bradesco financial manager that combines and consolidates data from Open Finance to offer to the customer a single view of his/her financial life and it also provides insights and recommendations and Brain – an intelligent credit solution that show real time offers related to credit and financing operations to help customers in their financial organization.

Hyperpersonalization has taken the leap in the customer-centric strategy proposed by Bradesco, with technological innovation, governance of customer data and deeper relationship.

In a hyperconnected world to remain competitive it is necessary to improve interaction with customers, paying attention to relevance of each offer in customer´s life context. With a broader solution portfolio, it is important to understand customer life moment to offer the right product at the right time. These initiatives bring a huge change producing insights from customer interactions in digital channels and try to better attend them.

We´ve seen these actions increased 4x more sales conversion in mobile channel. Also, Bradesco NPS - recommendation of Bradesco among individuals’ customers - grew by 21 p.p. between the last quarter of 2020 and the end of 2022.