Tata Consultancy Services announced that Scotwest Credit Union, one of the largest credit unions in the UK, has enhanced its customer experience with TCS Customer Intelligence & Insights (CI&I), an AI-driven analytics software.
Scotwest Credit Union was looking for a solution to predict customers' propensity to default and take immediate preventive action. It selected TCS to strengthen its loan portfolio, help preempt early repayments, reduce loss of interest income, improve customer retention and lifetime value.
TCS implemented its CI&I solution, which provides predictive models such as the probability to default and early payoff, providing Scotwest with a holistic view of cash flows and helping manage liquidity more efficiently. It also helps the credit union make contextual recommendations to their members on the next product to buy as well as loan top up options, making for a more personalized experience while also boosting sales. The solution is integrated with TCS BaNCS Cloud for Banking which powers Scotwest's operations.
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