More personalized financial services and products enabled by a collaboration between Dah Sing Bank and Planto
“The success rate of customers opening emails and finally opening an account has increased significantly compared to before.”
Personalized marketing based on spending habits
Planto, a Hong Kong-based start up, received funding from the Proof-of-Concept programme last year for a fintech tool it developed for Dah Sing Bank. The tool helped the bank analyse its customers’ spending habits and to tweak its marketing materials accordingly.
Improved success rate
After applying Planto’s solution, the success rate of customers opening emails and finally opening an account has increased significantly compared to before. Through this program, the primary purpose is to discover high-asset groups and convert them into the bank’s customers
More insights from customer transactions
For instance, it (the old data model) may categorize customers’ transactions using credit cards in restaurants as commercial services or other categories, and it can only display the information of the company that holds the restaurant without providing details such as the restaurant names and locations.
Support and funding from Cyberport POC Subsidy scheme
Victor Yim, the Head of Fintech at Cyberport Hong Kong, said that the funding of the new round of the PoC Up program could be increased to a maximum of HK$ 400,000. Dominic SIU, General Manager, Head of Data Analytics and Digital Transformation of the Retail Banking Division of Dah Sing Bank, said the collaboration between Dah Sing and the Fintech company Planto could help the bank analyze the data in-depth and make personalized promotions.
Cyberport's Fintech Proof-of-Concept Subsidy Scheme 2022 Phase I is accepting applications until 30th November 2022.
