Racionet is one of those companies that can mine data. Their solution is easy-to-use in banking and also in insurance sectors as it is able to react to the client’s individual life situation. But what is their motivation? „It is clear,” says Istvan Toth, business manager. “We have several decades worth of experience with banks in this area, and on this basis we believe that this solution is the way forward. A fully individualised offer or discount can be given by using our DataAnalyzer. Moreover, putting it into service is really quick, one to three months.” And he adds: „Obviously, it is easier to target this way, e-communication is cheaper. Therefore, these messages are more likely to be delivered, so the client consequently enters into a contract.”

How to expand on foreign markets if you know the banking and insurance system well? The Hungarian Racionet team is on a “roadshow” with DataAnalyzer in Visegrád Group countries at the moment. They present the value of their solution to companies from Poland, they have just presented their solution in Warsaw at the 7th Digital Banking and Payments Summit on February 19-20, to many potential business partners. Or maybe you have met them in Slovakia’s or Czech Republic’s international fintech summit. After answering so many incoming questions at conferences, the business leader says that nobody has the time to bother with more hard-to-understand analysers. “Decision makers choose RDA because they don’t have time to bother with technology… RDA allows them not to be engaged in the long term, and they want an easily accessible, transparent solution.” He highlights that using RDA cloud solution is as easy as using Gmail and it provides a big market advantage: higher level of customer service, cost saving and high profitability.

The Data Analyzer fits into the smart city concept, Racionet is able to retrieve information from their massive customer data sets for various purposes. Putting DataAnalyzer https://www.racionet.hu/en/ into service is really quick, 1-3 months – their cloud solution provider partner is Oracle. Working with a pre-defined bank data model shortens successful project launch time even more. About the outstanding value proposition of RDA, it provides decision makers with answers to their real problems: for example, by supporting business content with a complete built-in banking data model, KPIs and reports. The built-in metadata manager makes data processing transparent. It can be used for a campaign, or for serving only the chosen customer segments.

This new type of CRM can reduce time of analysis by up to 80 percent. But still, it is a challenge to explain what kind of modular, integrated CRM back-end solution is RDA (Racionet Data Analyzer). The formula is: DW+CRE+info about banking=RacionetDataAnalyzer. This solution contains hundreds of pre-defined KPIs that are organized into thematic containers. These pre-defined KPIs can fulfil 60-80 percent of the analysers’ requirements. Creating new KPIs – as well as new reports – is very quick in RDA. Data visualization is represented by the DNA, which is derived from customer data. It reflects the customer’s characteristics, preferences, and behaviour. It also contains forecasts, trends and changes. The DNA enables organizations to create personalized customer experience, and also to broaden its data catalogue using social media (Facebook) data.

How can the data be fully individualised? Cloud-based services are ready to contact the customers through digital banking channels like ATM, mobile, and web banking applications, even with POS slip. “With the help of our analyser, the content of the bank’s message can be defined flexibly: from brief information about ID card expiry to a complex mortgage proposal,” declares Istvan Toth. “Accurate targeting at lower cost, that is the result. The client will get the bank’s unique offer as soon as possible.”