Coonecta: enhanced customer experience through advanced data analytics

Coonecta, a financial company in Ecuador, faces a significant challenge in meeting its strategic objectives. Its main challenge? Position its members by raising brand awareness and identifying top customers to expand the debit card count and increase penetration among its member base, which includes Cooperatives, Mutual and Microfinance Banks. Additionally, the company is looking to define various initiatives to encourage the use of debit cards among its existing customers.

By utilizing advanced data analytics to correlate business variables and cluster customers based on their behavior and value, we identified the highest-value customers and the primary drivers that increase their average monthly consumption and reduce churn.

We applied a method called Human Center Experience, which involved analyzing data using advanced tools like machine learning algorithms. This revealed the crucial clients and their challenges while interacting with the company. For example, the time it took for a card to be activated and used or the reasons cards were canceled or blocked. Based on this analysis, the company designed a strategy to retain valuable customers and encourage them to use their cards more often.