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DekaBank

Situation

DekaBank is a central institution of the German Savings Banks Financial Group and operates in the wholesale banking and investment fund segments. With a group balance sheet total of €115 billion ($144.2 billion) at the end of 2005, assets under management of more than €140 billion ($175.5 billion), and equity capital of €3.7 billion ($4.6 billion), it is one of Germany’s leading financial services providers.

Challenge

Increasing numbers of savings banks from the German Sparkassen Group rely on DekaBank’s analysis and campaign services to market their investment funds. DekaBank was in need of a data mining tool that could differentiate between the range of services and products that can be offered to various banks’ target groups.

Solution

“DekaBank chose SPSS Inc.’s data mining solution to write suitable program streams, develop campaign scores, and control the use of these scores.

The issue of a new guarantee fund was the system’s first practical test. DekaBank began by analyzing the typical characteristics of previous purchasers of similar funds. The results were given to consultants in the local banks, who used them to target eligible customers.

“Because of this analysis, we were able to determine, for example, that the typical purchaser of this financial product is more likely to be older and is often a longstanding, particularly intensive fund user,” explained DekaBank’s Georg Thomas. “For these clients, we had to adapt our approach in all areas, from the texts for mail shots and the layout of our flyer to our telephone guidelines.”

DekaBank put together a service package containing sales and promotional materials, as well as a list of the customers most likely to be interested in the new guarantee funds. This enabled consultants at each savings bank to focus on approaching only those customers.

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Results

The campaign was a complete success. The number of transactions of the 160 participating savings banks rose on average by a factor of 3.3—the highest one rose by a factor of 8.8—compared with the savings banks that didn’t participate. “This is a clear result,” said Thomas. “It shows what can be achieved through intelligent data analysis. We are convinced that PASW Statistics Base will help produce similar results in future campaigns.”