Driving Credit Card and Personal Loan Sales Through Personalization and Journey Optimization

BUSINESS CHALLENGE

A leading bank launched a digital growth initiative to acquire new customers and deepen engagement with its existing customer base. However, several key challenges were identified:

• Underperforming Credit Card and Personal Loan Sales: Sales of  credit cards and personal loan fell short of targets, limiting portfolio growth.​
• Inefficient Application Process: Friction points during the application process led to high rejection rates and customer drop-off.​
• Low Card Usage: Many customers held credit cards but used them infrequently, resulting in low transaction volumes and reduced engagement.​
• Low Offer Visibility: Customers had limited awareness of available card and personal loan offers, leading to missed conversion opportunities.
• High Inactivity and Churn: A significant portion of cardholders remained inactive, with churn rates higher than desired.​

HOW WE HELPED

Digital Revenue Services methodology was implemented with a focus on increasing offer visibility and enhancing the digital customer experience across key stages of the customer journey:

• Personalized Sales Actions: Used customer behavior insights to create tailored offers, increasing relevance and conversation rates.
• Customer Journey Design: Developed structured strategies for activation, retention, and growth to boost credit card and personal loan usage.
• Streamlined Digital Onboarding Experience: Improved user flows, reduced steps, and highlighted relevant products to enhance onboarding.
• Expanded Engagement Touchpoints: Added new offer entry points to drive engagement and grow application volume.
• Optimized Contact Policy: Defined contact rules aligned with behavior to improve interaction efficiency across journeys.
• Enhanced Application Experience: Redesigned application flows based on funnel insights to improve usability and completion.

RESULTS ACHIEVED

The initiative delivered strong early outcomes, signaling substantial success and setting the stage for long-term digital sales growth.

1,7x increase in conversion rate for personal loan offers through optimized positioning.

+75K monthly personal loan sales driven by improved journey design and optimized offers.

%20 increase in credit card sales enabled by targeted cross-sell efforts and journey enhancements.

+41K monthly credit card sales boosted through re-engagement strategies.