customer analytics
Jun 1, 2020
Matt High

FinTech profile: Symend and the science of engagement

Symend is a behavioural analytics platform that offers customer engagement products and services

Symend is a leading provider of science-driven, digita...

<h3 dir="ltr">Symend is a behavioural analytics platform that offers customer engagement products and services</h3>

<p dir="ltr"><a href="//www.symend.com">Symend</a&gt; is a leading provider of science-driven, digital engagement technology that enables financial services organisations to improve engagement with at-risk customers.</p>

<p dir="ltr">This proposition is driven by the company’s “dramatically different perspective on debt recovery and a new approach to at-risk customers’”.</p>

<p dir="ltr">Financial management can prove challenging to many. In the current environment and as a result of the global COVID-19 pandemic, that challenge increases.&nbsp;</p>

<p dir="ltr">Symend cares about at-risk customers. It explains that, today, “companies are faced with making decisions rapidly to support their customers, employees and business goals”.&nbsp;</p>

<p dir="ltr">These decisions can be helped with the greater use of data and the innovative digital engagement platform that Symend offers.&nbsp;</p>

<h4 dir="ltr">The Symend solution</h4>

<p dir="ltr">This advanced platform combines behavioural science, AI and machine learning to create a simple and personalised experience. For financial institutions, this empowers customers to take desired actions while improving NPS scores and retention KPIs.&nbsp;</p>

<p dir="ltr">Symend’s data demonstrates the advantages of early and personalised digital interaction with customers. Its technology combines workflow and campaign automation to monitor engagement more successfully.&nbsp;</p>

<p dir="ltr">The company’s platform optimises processes in four key ways:&nbsp;</p>

<ul dir="ltr">
<li>Treatment planning: flexible customer outreach planning that maximises the ability to ‘self-cure’.</li>
<li>Campaign execution: real-time experiments that allow flexibility strategies to be developed based on achieving the best outcome.</li>
<li>Self-treatment toolkit: digitally empowering customers to resolve their debts themselves without having to engage customer service teams.</li>
<li>Business logic control: Symend takes care of organisation compliance and regulatory processes.</li>
</ul>

<h4>Benefits to business</h4>

<p dir="ltr">Positive customer engagement brings a suite of benefits to every business. For example, greater personalised interaction with customers can improve retention, as they are more likely to self-treat and remain with the organisation that has helped them.&nbsp;</p>

<p dir="ltr">Similarly, Symend enables faster and more productive recovery rates on debt and, it says, ultimately lowers instances of bad debt.&nbsp;</p>

<p dir="ltr">Greater engagement with customers can also both lead to greater brand visibility and loyalty and lower operating costs. The latter comes as a result of higher collections efficiency and productivity.&nbsp;</p>

<p dir="ltr"><strong>Read more about Symend&nbsp;<a href="//www.symend.com">here</a>.</strong></p&gt;

<p dir="ltr">SEE MORE:</p>

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<p dir="ltr"><a href="https://www.fintechmagazine.com/banking/mckinsey-banking-models-and-ris… banking models and risk post-COVID-19</a></p>
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<p dir="ltr"><a href="https://www.fintechmagazine.com/cybersecurity/rapid7-2020-threat-report… 2020 Threat Report: building excellence in security</a></p>
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<p dir="ltr"><a href="https://www.fintechmagazine.com/fintech/deloitte-how-financial-services… how financial services is responding to COVID-19</a></p>
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<li dir="ltr">
<p dir="ltr"><a href="https://www.fintechmagazine.com/magazine/fintech-magazine/april-2020">R… the latest edition of FinTech Magazine, here</a></p>
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</ul>

<p><em>For more information on all topics for FinTech, please take a look at the latest edition of&nbsp;<a href="https://www.fintechmagazine.com/magazine/fintech-magazine/may-2020">Fin… magazine</a>.</em></p>

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