RCI Bank: AI Techs to Improve CRM

RCI Bank & Services is putting much work into data aggregation services based on Machine Learning algorithms. Credit scoring, verbatim and incoming e-mail analyses, consolidation of customer data… are as many aspects in which Renault’s financial and mobility subsidiary intends to further focus through Machine Learning mechanisms.

RCI Bank & Services embarked on a large-scale Machine Learning program based on Oracle analytics solutions. Renault Nissan’s financial arm built a centralised database listing their customers, and keeps expanding it over time using unstructured qualitative data from their customer service, for example.

Artificial Intelligence is also used to improve traditional scoring algorithms’ efficiency. For instance, they are currently designing a new scoring system for French SMEs, i.e.: a segment for which barely any data qualification has so far been made. They improve existing information through cross-referencing data retrieved on social media as well as on some websites. The idea is to better assess their profile of risk. Also, Machine Learning processes allow them to update credit-granting algorithms in real time, to avoid that they should dry out.

This program also includes automated analyses of customers' verbatim (gathered, for instance, during investigation processes) and of the answers to incoming e-mails from different RCI Bank & Services subsidiaries. In both cases, the process relies on text analyses, making it possible to automate and industrialise data categorisation. Their goal is to qualify their customer relation, assess their satisfaction level and draft detailed profiles of these banking customers.

Comments – AI as a strategic tool for RCI Bank

Big Data and the implementation of new, Machine Learning-based scoring techniques have become a trend in the credit sector. Progress has been made regarding these technologies, which led to several commercial launches where instantaneity, automation or conversational intelligence play a large part. RCI Bank & Services is using AI technologies by way of optimising its processes and improving its communication skills at key moments in dealing with customers and prospects. When it comes to credit offers, the group intends to go further than just using typical scoring solutions so they can better anticipate default probabilities. They aim to implement models the performance of which should never fail.

Renault’s financial arm recorded exceptionally high results in 2017, with more than 1.7 million new financing files, +13.2% year-over-year. Their partnership with Oracle on implementing analytics solutions echoes the overall progress achieved by the group in the car financing sector.