Project Apollo by BPI
Project Apollo was born to respond to two jobs-to-be-done. From the bank’s perspective, it was to move ahead in a highly fierce financial market through systematic customer engagement. From the client’s point-of-view, meanwhile, it was to get timely, appropriate, and clear financial advice.
Client centricity is at the core of Project Apollo. By mining and analyzing data gathered from millions of transactions, Project Apollo allowed BPI to identify clients they should engage with, what topics they should discuss with them, and the proper time to do so. The Apollo system looks at all client transactions and compares them to each client’s transaction history. The system tags clients who exhibit a change in behavior that appears to indicate a financial need as leads. Frontliners will then call and engage the client, surface their concerns, and provide the appropriate advice.
Through Apollo, BPI has been able to connect with their customers through relevant, needs-based solutions, rather than random offerings of a set of products and services. The system establishes the company’s credibility and trustworthiness to its customers, while frontliners are steadily pivoted towards an empathic view of the clients.
The project’s impact was immediate: P302 million in revenue was generated during the first year of implementation—up 213% from the original plan. Conversion rates of 12% to 27% were achieved, compared to just 0.7% to 18% of non-Apollo leads. Also, from an initial 212,000 clients in 2015, they have since scaled to 7 million clients, and are on track for further expansion, utilizing near-real time engagement and SMS, email, ATM, and online campaigns.