Sensibill wins Best of Show at Finovate Fall 2017
We're proud to announce that Sensibill's demonstration of the brand new +Pulse tool won the Best of Show Award at Finovate Fall 2017!
What is +Pulse?
At Sensibill, we believe that every receipt tells a story. Exactly what people buy and what instrument they choose to pay with can be directly tied to customer profitability, personality traits, lifestyles, life stages, and more. When harnessed, these insights can be used with near-accuracy to predict and meet distinct customer needs. This is where +Pulse comes in.
+Pulse is a data insights tool that builds off of our Receipts solution to map customers' purchases to psychographic traits. The solution is intended to help financial institutions refine their customer profiles into more unique segments, derive actionable insights about them, and ultimately power personalization efforts.
81% of customers feel their banks don't understand their needs and goals
Deeper insights for better decision-making
Beyond improving the bank's targeting and marketing efforts, the tool can be used to optimize decision-making across business departments and explore new value propositions for customers. At the risk of sounding cliché, knowledge is power. Here are a few ways +Pulse can drive business:
Increasing share of wallet. The tool compares on- and off-card behavior to understand when and where customers are using cash or a competitor's card. This insight can be used to create new strategies and incentives to appeal to disaffected customers, and increase share of wallet.
Retaining the most profitable/valuable customers. Sensibill's product suite offers a comprehensive, 360-degree view of customers' payment behaviour. This helps banks accurately evaluate customers’ profitability and long-term value.
Identifying life stage events. Is your customer suddenly buying diapers and formula? Your customer probably has, or is expecting, a newborn. Banks can respond to major events in customers’ lives that require financial assistance. Being positioned to address life-stage events engenders customer trust and paves the path for lifetime loyalty.
Identifying underserved segments & discovering new segments. Many small business owners continue to use personal banking accounts. Understanding the spending patterns of small business owners would allow for improved pipeline management, migrating customers to business accounts with more services suited to their needs, as well as more profitable payment products. In the same vein, banks could discover new segments, like gig economy workers or freelancers among their client base; an opportunity to optimize services and capture an emerging market.
Pulse by sensibill