Netcore Cloud, a global leader in omnichannel marketing technology, emphasizes that businesses in the fintech and neobanking sectors must embrace hyper-personalization as a crucial customer service strategy to stay competitive.
This insight was shared during the 2024 MarTech Mashup for Fintechs and Neobanks, which was recently held at Four Points by Sheraton, Victoria Island.
In his welcome address, Saket Kumar Jha, Chief Revenue Officer, APAC & MEA at Netcore Cloud, highlighted that intelligent customer engagement is the new pathway for organizations aiming to grow their revenue and customer base.
He noted that intelligent customer engagement involves using predictive tools and models, insights, and data combined with quality engagements to effectively reach the target audience.
Chukwudi Nwokike, Vice President of Customer Success at Netcore Cloud Africa, stated that hyper-personalization is the next frontier in customer service for the financial industry, offering a path to achieving business objectives.
He said: “The era of merely personalizing content and messages to customers is over, as this approach no longer achieves its intended goals. Hyper-personalization is about reflecting a customer’s daily life—what they do and how they do it. For example, my bank knows the football club I support and, through my transaction alerts and account statements, highlights my spending patterns, trends, and habits.”
He further explained that hyper-personalization is driven by real-time data, machine learning, and artificial intelligence, utilizing a broad range of data points—such as purchase history and customer intent—to enhance engagement and satisfaction.
“To help businesses, particularly in the banking sector, gain a competitive edge, Netcore Cloud has configured its marketing technology platform, Raman AI, to facilitate seamless hyper-personalization. This includes centralizing and integrating customer data, leveraging analytics for insights, creating personalized and engaging content, and continuously optimizing messaging and customer journeys,” he added.
Bhupesh Utreja, Country Manager of Netcore Cloud Africa, highlighted four crucial metrics for fintech app success: Activation (user sign-up and transactions), Adoption (repeat transactions via the app), Retention/Loyalty, and Cross-sell opportunities.
The GRIP (Guide, Remind, Interact, Productise) framework, engagement with advanced Nudge templates, and gamification of user experiences are additional strategies that fintechs and neobanks can use to increase their revenue and expand their customer base.
“In today’s competitive business environment, especially in Nigeria, standing out as a brand is not just a metric of success but a necessity for survival. Customer lifetime value is the key metric that distinguishes good businesses from great ones,” he emphasized.
About Netcore Cloud Africa:
Netcore Cloud is a leading omnichannel marketing technology platform that empowers brands to create unique, customer-centric experiences. Its AI-powered marketing platform, Raman AI, has successfully delivered exceptional campaigns for various brands in Nigeria and other African countries. Netcore Cloud is also the pioneer of annual email marketing research conducted in Nigeria and other African countries.
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