Commonwealth Bank of Australia (CBA) has announced that it is using a new purpose-built data model solution to contact customers affected by natural disasters.
The solution leverages custom-built algorithms to monitor official emergency sources and weather alert systems in real-time.
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This monitoring and the interpretation of the procured data will help CBA communicate with the customers affected by such catastrophic events on the same day and provide them with necessary assistance.
Such assistance may include deferring loan payments or offering an emergency overdraft and other personalised support.
Recently, the model was used to provide same-day personalised support to 80,000 customers affected by the Perth bushfires.
CBA chief analytics officer Dr Andrew McMullan said: “Natural disasters can come out of the blue, and whilst sadly we can’t prevent them, we can help notify customers so they can prepare, as well as offer affected customers immediate and personalised support.”
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By GlobalDataThe offering is a part of CBA’s Customer Engagement Engine.
McMullan added: “CBA’s Customer Engagement Engine runs around 400 machine learning models across 157 billion data points in real time so we can add value to our customers in terms of relevance and personal experience – whether that’s through messages and live in-app chats using the CommBank app, or having relevant conversations in-branch or over the phone.”
