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Taiwan’s Bank SinoPac leverages advanced analytics to better understand customers’ credit card usage patterns

Kareyst Lin | Jan. 16, 2017
The bank’s management embraced a data culture by focusing on having an agile data infrastructure, ensuring data governance for collaboration, and having an analytical workforce.

Taiwan Sino Bank

Taiwan's Bank SinoPac has leveraged Microsoft's data analytics platform SQL Server R Services to better understand customer usage patterns in an agile and timely manner using data, Microsoft said in a press statement on 6 January 2017.

Competition in Taiwan's credit card market is rife with the over-saturation of card providers, low customer loyalty and low threshold for account transfers. This means that the customer engagement cycle within the consumer financial services space is extremely short.

Led by Wang Wenyu, Head of Consumer Banking Division and Cai Ruiting, Head of Information Technology (IT) Division, the bank's management has started to embrace a new data culture. It focuses on having an agile data infrastructure, ensuring data governance for collaboration, and having an analytical workforce.

To tap on more advanced algorithms to meet business requirements, Wang and his team leveraged the open source coding language Microsoft R (formerly known as Revolution R).

"The advantages of open source tools are that they flexibility, and there are many applications provided by a large user community," shared Cai. "However, these tools may not be enterprise-grade and also lack support, which remains a concern."

"Thankfully, SQL Server 2016 R Services included support for Microsoft R. This allows us to enjoy the benefits of open source tools and an enterprise-grade solution. It also gave us more confidence about future integration and the application of advanced analytics into our existing platforms," he added.

The framework enabled the analysis team to fully utilise the advanced computing framework, as they were no longer restricted by the standalone environment. They could compress data sizes by up to 90 percent, which drastically reduced the load on memory.

In the near future, the bank is planning to integrate non-structured information such as contact records and social media content to gather more customer insights.

"At the moment, the focus of the deployment is to better integrate our financial offerings into consumers' lives," said Cai. "This integration of digital and reality is an increasing requirement to attract connected and mobile customers to use our bank services. We foresee the demand for data analytics to grow and diversify at SinoPac in order to remain relevant in this competitive market." 

 

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