Benchmarking
Let us show you how our AI enrichment stack can deliver a return on investment for your organisation.
How to benchmark with Bud
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Tell us your business objectives.
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Send us a sample of your transaction data which is representative of your customer base – we are trusted by banks to encrypt and handle this data securely.
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We play the insights and revenue opportunities from your customers via an intuitive dashboard.
Track record
100% track-record
We have outperformed the competition in data benchmarking exercises with enterprise organizations across the US, UK and Europe.
Categorisation accuracy
Boasting >98% accuracy in every benchmarking exercise so far.Merchants and Locations
>99.9% merchant location coverage and c. 80% merchant identification rate.
Get the value before contracting
Our AI capabilities have uncovered billions of dollars of revenue opportunity in benchmarking exercises with financial institutions that have an aggregate of over 100 million customers.
Multinational Retail Bank
A profit opportunity of up to $2.2 billion was identified if the bank claimed full market share of the credit cards that its customers had with competitors
We identified that almost 90% of the bank’s customer base had financial products with other financial institutions. Credit card spend with competitors is the largest spend in this category. Across the c. 40 million customers at the bank, there was a potential $90billion being spent using competitors credit cards.
Credit Union
$150 million+ annual deposit opportunity uncovered
Across a customer base of 2 million, the 28% of customers with idle deposits would save over $270 per year by using an automated round-up feature.
Leading Neo Bank
Cost-effective customer acquisition strategy identified for millions of customers
We identified the bank’s customers’ top merchants and biggest competitors. Using this data we devised a cashback plan to outperform the bank’s competition as part of a customer acquisition strategy.
Outcomes we provide
Strategic insight
We provide strategic insight to help financial institutions understand key metrics such as share of wallet against competitors.
New revenue streams
We model outcomes on real customers to show how AI tools can positively enhance their finances to qualify them for revenue generating products.
The benchmarking process
Step one
Provide us your strategic business objectives. Whether you want to: grow deposits; reduce the risk of your loan book; want to identify those customers who are eligible for a financial product or you simply want to understand your customers better, let us know.
Step two
Provide us your transaction data. We will set up a secure transferring mechanism for you - we work with the largest banks in the world, we know how to handle data!
Ideally you provide us with:
- Customer ID
- Transaction ID
- Description string
- Account ID
- Date and time stamp
- Amount
- Currency
Step three
Let our data intelligence platform pull out transaction, customer and portfolio level insights.
We will provide a comprehensive report of the accuracy, confidence level and match rate of our transactions.
We will present back your insights with our findings that help you:
- Prioritise strategic objectives.
- Build your business case to kick start your project.
- Deliver a deployment strategy to execute on your objectives.