- TCS has won the deal with Five Star Bank,a consumer and commercial lending institution serving central and western New York.
- Five Star Bank will receive AI/ML-driven insights on individual customers that help managers to analyze the performance.
- The use of AI models helps bank to identify customers who are likely to default or pay off their loans early.
Tata Consultancy Services has won the deal with Five Star Bank, a subsidiary of Financial Institutions Inc, to help it in determining lending risks and providing personalized customer experiences.
TCS said it will use its Customer Intelligence & Insights (CI&I) analytics platform to help Five Star Bank engage with its customers in real time across multiple channels.
“We look forward to helping equip the bank’s business customers and relationship managers with timely and actionable alerts and unique insights to drive growth,” said Amit Bajaj, president, TCS-North America.
Five Star Bank is a consumer and commercial lending institution serving central and western New York. The bank was looking for a solution that would help them meet customer expectations while also driving competitive differentiation.
The bank will receive AI/ML-driven insights as well as self-service customer and marketing analytics use cases, allowing its relationship managers to gain insights on individual customers via analyses such as sentiment score, churn score, product white space, customer persona, segments, and transaction profiles, and calls to action.
CI&I includes a KPI-based alert framework that notifies key stakeholders when customer thresholds, such as credit scores, account value, or life events, are reached.
CI&I will also allow the bank to monitor loans on a regular basis and share predictive early warnings on loans that are likely to default, allowing the bank to take the necessary steps to prevent loans from experiencing prolonged credit deterioration.
Using AI-based models, the bank will be informed of customers who are likely to default or pay off their loans early.
“With CI&I, Five Star Bank is bridging the human-digital divide with contextual AI-driven recommendations for next-best offers and actions,” said Sean Willett, EVP, chief administrative officer, Five Star Bank.