L-R: VP, Global Sales, EMEA, Terragon Group, Simon Curtis; MD, Nigeria Inter-Bank Settlement System (NIBSS), Adebisi Shonubi; CEO, Terragon Group, Elo Umeh; Chief Technology Officer, Terragon Group, Ayodeji Balogun at the Terragon Fireside Chat for Financial Service Institutions held at the Terragon Group Office in Lagos, Nigeria on Thursday, October 24, 2018.
Lagos, Nigeria. October 24 2018 – Terragon Group, Africa’s leading data & marketing technology company, hosts a fireside chat with the Managing Director, Nigeria Inter-Bank Settlement System (NIBSS) & Deputy Governor Designate, Central Bank of Nigeria (CBN), Mr Adebisi Shonubi, and top executives of financial institutions in Nigeria, on the theme “Transforming customer experience on digital channels through data science and artificial intelligence”.
The discussions centred on how banks and other financial institutions can use Data Analytics & Artificial Intelligence to close the Financial Inclusion gap.
Speaking to the media ahead of the fireside chat, Terragon CEO, Mr. Elo Umeh, says “Terragon’s Adrenaline solution is right at the heart of the bank-telco partnership required to push forward Nigeria’s financial inclusion target. Drawing on the advantages of mobile technology, messages can reach the last mile, as long as they have a mobile phone.”
The Artificial Intelligence-enabled platform is able to deliver messages to audiences and draw real-time insights from customer feedback or behaviour; whilst also giving banks access to Terragon’s database of over 80million Nigerians, inclusive of Nigerians that are offline.
According to the Managing Director, NIBSS & Deputy Governor Designate, CBN, Mr Adebisi Shonubi, “recent discourse on financial inclusion stresses that homogeneity does not exist among financial service consumers. Thus, there is a need to properly identify, understand and predict the lifestyles, habits, and challenges of the target market to better inform product design, which would lead to better adoption. Terragon’s Adrenaline makes this home-grown technology solution capability available to Financial Institutions today. This is a timely development as we push towards closing the financial inclusion gap.”
“The solution also takes cognisance of low literacy levels, which has been identified as an impediment in reaching the unserved; and makes it possible to reach audiences in other formats through audio and video”, Mr Umeh adds.
In a joint venture with leading telecommunication companies, Adrenaline delivers high impact, short audio and video messages in as little as five seconds via SMS. The key difference is that audio/video will render within the SMS environment without consuming the subscriber data or the need for a smartphone.
Other features of the solution include a 360-degree view of current and potential customers, allowing more accurate Customer Relationship Management (CRM) profiling, customised messaging leading to precision targeting, reduce wastage and increases conversion. With AI & data analytics embedded in the platform, banks and other financial institutions can create dynamic, custom products, offers & messaging for their different customer segments and prospects in unserved or underserved areas as they now have full visibility into customers’ psychographics.