Digital Banking / Digital Only Banks is the concept which is recent hot topic in Banking and Fintech. And in advancement and spread of internet and mobile technologies, it's the fantastic concept to remove to need to go to bank physically. However the challenges is roll out of Digital Banks and reaching out to right customer base and keep on growing. Without growth, Digital Banks are dead. I'm attaching a short presentation on this topic depicting how power of analytics can be leveraged along with marketing tools and techniques to run campaign for digital only banks for lead generation and continuously improving on the campaign.

1. Social Media Lead Generation
For Digital Bank
Sudarson Roy Pratihar
Data Science Evangelist and Technology Leader
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

2. Understanding Digital Bank
n Young's turned to 18 n Foreigners Relocating
n Pillars of Digital Banking
n Customer centric value
n Banking anywhere
n Disrupting and catalysing change
n Customers are bankers
n Go social
n With no compromise on
n Security
n Privacy
n Integrity
High Customer Life Time Value
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

3. Challenges
Computational and Data Collection
n Problem
n Diverse sources, huge data set and natural language
n Infrastructure set up cost and time
n Solution
n Use cloud infrastructure on-demand to start with
n Spot instances and EMR option of Amazon Web Services
(AWS) could be one potential way for cheaper bulk
processing of non-time critical data
Operational and Strategic
n Problem
n Understand customer, customers’ perception on needs and
preference
n But finance is not so frequently discussed on social media,
except negative experiences
n Identify and attract customer who can be brand
ambassadors
n Convert leads to customers
n Identify social medias to focus on
n Solution
n Promote discussions on social media on selected topics and
empower target segments to voice preferences in Bank’s
website through dedicated social page (and accessible
over mobile devices as well)
n Analyze social media data to understand needs of targeted
segments, identify social media groups to discuss
n Analyze social network to identify customer who can
influence
n Start with Social Medias such as FaceBook, Linkedin,
Consumer Association of Singapore for major data, but fill
in the gaps using Pintrest, Google+, Slideshare.
n Identify attributes to target influential customers and use
social media ads
n Redesign Bank’s landing pages and mobile app
Statistical and Analytical
n Problem
n Measure Social Media effectiveness
n Measure Campaign effectiveness
n Measure Bank Website and Mobile app effectiveness
n Solution
n Design experiments with randomly chosen samples of
target segments
n Draw statistical inference and significance from experiment
results
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

4. Process at a Glance
• Advice Marketers
• Run Campaigns
• Measure lead
conversions
• Statistical inference
• Campaign Strategy
• Product Strategy
• Marketing Incentive
Strategy
• Perception and
Preference Model
• Social network
analysis
• Field Experiments
and Identification of
main factors and
interactions
Modeling Strategy
Execution
Performance
Evaluation
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar
ITERATIVE CYCLE

5. Modeling
Social Network Analysis
n Data Collection
n FaceBook ,Twitter and Linkedin Followers
n Consumer Feedback Sites to find most influential posts
n Technique
n Social Media Network is analyzed to understand network
spread, geography of spread, people who influence and
people who are connected with most influential people in
target segment
n Facebook and twitter data is analyzed to understand need
of customers. E.g. who has recently moved to singapore and
looking for local information
Perception and Preference Model
n Data Collection
n Secondary Data: Customer feedback from social
media about other bank’s offerings; Slideshare,
Consumer Association of Singapore
n Primary Data: Promoted discussion on Bank’s social
page and bank initiated discussions on social media
n Initially Digital Bank will have to rely more on
Secondary data.
n Technique
n Sentiment analysis of tweets, feedback to understand
customer mind and value of features in customer
mind
n Factor Analysis to group together multiple features to
get a dimension where Bank has opportunity to
attract customer
Statistical Analysis
n Data Collection
n Field Experiments in terms of conducting campaign on a
selected social media on small sample of target population
along with rest of target population working as control
group
n Technique
n Regression Analysis to understand impact of the particular
campaign on the given social media
n Campaign effectiveness and effectiveness of social media
can be judged
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

6. Strategy
Digital Strategy
n Modify Digital Bank’s website’s landing
page and Mobile Site based on
Modeling exercise
n A few iterations of field experiments
may be needed to test effectiveness of
landing page and mobile site
Campaign Strategy
n Selection of Social Medias based on
Modeling exercise
n Selection of attributes of target customers
based on modeling exercise
n Use these attributes to select leads and
follow up through marketers using various
channels
n Selection Campaigns and Ads based on
Modeling exercise (Field experiment)
n Control group: A small segment of target
group would be still not exposed to direct
campaigns, so that performance can be
compared
n Factor Analysis to group together
multiple features to get a dimension
where Bank has opportunity to attract
customer
Product Alignment / Incentive Strategy
n Observations on Customers’ preference
and perception to be passed to product
management if there is a significant
deviation
n Based on priority decided on banking
products, incentive for Marketers may
be changed to prioritize sell of certain
products
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

7. Execution
Advice to Marketers
n Based on strategy formulated, advice
marketers to participate and watch
for selected social media discussion
n Watch list of keywords and hash tags
n Use software (developed on data
mining algorithms) to generate a list
of target individuals and contacts
along with ranking based on
influence
Run Campaign
n Contract with social media for
campaign – provide keywords and
other attributes derived in strategy
phase
n Run campaigns
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

8. Performance Evaluation
Performance Measurement
n Gather metrics from social media –
such as Reach, Frequency, Cost per
Thousand, tracking of leads
n Keyword performance
n Conversion of leads to customer and
lifetime value
n Conversion of referral through the
lead who became customer
Statistical Analysis
n Regression and ANOVA analysis of
effectiveness of campaigns against
the control group
n Analysis to determine factors of lead
conversion and effective growth of
customer base through referral
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar

9. n AWS EMR spot instances for low cost batch processing
n AWS Ec2 instances for analytics system hosting
n For real time analytics dash board, spark will be used
Alert
Generation Feedback
capturing
Event
Ingestion
HDFS
Sync
Data
sync
CDR
Data
CDR
Data
Query
Flume/Kafka
HDFS
Hadoop
Cluster
Exploratory
Data
Processing
Python
Spark
Continuous Process
Pyspark/MLLIB
Analytical
adjustment
and
pattern
detection
Reporting
alert/mail/feedback
MYSQL
Social Media
Data
AWS – EMR
Landing zone
Customer
acquisition data
from Bank’s
system
Copyright © 2015 All rights reserved by Sudarson Roy Pratihar