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Enrich

The language model for banking data

Engage

Personalisation and financial wellbeing

 

Drive

Insight exploration and marketing

Assess

Affordability and risk

Resources

Everything you need to know about Bud.

Benchmarking

Let us show you how our AI enrichment stack can deliver a return on investment for your organisation. 

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How to benchmark with Bud

  1. Tell us your business objectives.

  2. Send us a sample of your transaction data which is representative of your customer base – we are trusted by banks to encrypt and handle this data securely.

  3. We play the insights and revenue opportunities from your customers via an intuitive dashboard.  

2024 How to Benchmark 280324

Track record

100% track-record

We have outperformed the competition in data benchmarking exercises with enterprise organizations across the US, UK and Europe.

Categorisation accuracy

Boasting >98% accuracy in every benchmarking exercise so far.

Merchants and Locations

>99.9% merchant location coverage and c. 80% merchant identification rate.

Case studies

Get the value before contracting

Our AI capabilities have uncovered billions of dollars of revenue opportunity in benchmarking exercises with financial institutions that have an aggregate of over 100 million customers.

Multinational retail bank

A profit opportunity of up to $2.2billion was identified if the bank claimed full market share of the credit cards that its customers had with competitors

We identified that almost 90% of the bank’s customer base had financial products with other financial institutions. Credit card spend with competitors is the largest spend in this category. Across the c. 40 million customers at the bank, there was a potential $90billion being spent using competitors credit cards. 

Credit Union

$150million+ annual deposit opportunity uncovered

Across a customer base of 2 million, the 28% of customers with idle deposits would save over $270 per year by using an automated round-up feature.

Leading Neo Bank

Cost-effective customer acquisition strategy identified for millions of customers

We identified the bank’s customers’ top merchants and biggest competitors. Using this data we devised a cashback plan to outperform the bank’s competition as part of a customer acquisition strategy. 

Outcomes we provide

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Strategic insight

We provide strategic insight to help financial institutions understand key metrics such as share of wallet against competitors.

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New revenue streams

We model outcomes on real customers to show how AI tools can positively enhance their finances to qualify them for revenue generating products. 

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Customer personalisation

We demonstrate how to distribute personalised messaging to qualifying customers by using Bud Product sets: Drive for customer segmentation; Engage for in app engagement; and Assess for affordability assessments.

The benchmarking process

1

Step one

Provide us your strategic business objectives. Whether you want to: grow deposits; reduce the risk of your loan book; want to identify those customers who are eligible for a financial product or you simply want to understand your customers better, let us know.

2

Step two

Provide us your transaction data. We will set up a secure transferring mechanism for you - we work with the largest banks in the world, we know how to handle data! 

Ideally you provide us with:

  • Customer ID
  • Transaction ID
  • Description string
  • Account ID
  • Date and time stamp
  • Amount
  • Currency

3

Step three

Let our data intelligence platform pull out transaction, customer and portfolio level insights. 

We will provide a comprehensive report of the accuracy, confidence level and match rate of our transactions.

We will present back your insights with our findings that help you:

  • Prioritise strategic objectives.
  • Build your business case to kick start your project.
  • Deliver a deployment strategy to execute on your objectives.

Hear from our VP of Product, Jakub on our approach to benchmarking

Start your benchmarking process today