Faraday is pleased to announce a new partnership with Saylent, a software provider that interprets bank and credit union data to help them better understand their customers and discover opportunities for growth. Saylent’s mission aligns nicely with ours: to help consumer-facing businesses optimize their growth initiatives by bringing data science out of the lab and into the real world.
At the foundation of our partnership is the integration of our platform with Saylent Engage, their product that provides tools to increase customer engagement, and in turn, revenue for financial institutions. The native integration will enhance Engage’s predictive capabilities with a combination of Faraday’s third-party consumer data and advanced machine learning capabilities.
“There has never been a more important time for financial institutions to understand their customers and provide them with the right solutions when they need them. Combining Faraday’s AI-driven predictions with the strength of Engage’s targeted insights and actions will allow our clients to quickly gain a deeper understanding of key customer segments, increasing customer engagement and institutional growth through relevant communications." - Joe Mearn, Director of Product, Saylent.
AI-driven predictions (propensity to increase deposits, purchase specific products, churn, and more) will be embedded into Engage, enabling users to reach new segments of targeted customers with relevant messages and offers. These predictions are the product of machine learning models that train off of multiple terabytes of consumer data found in the Faraday Identity Graph and behavioral data captured by Engage.
“In an age where big banks have whole floors dedicated to data science, regional banks and credit unions need to find a way to leverage AI to deepen customer and member relations. Our partnership with Saylent will empower every financial institution regardless of size to do just this.” - Robbie Adler, Co-founder and Chief Strategy Officer at Faraday.
By incorporating the Faraday models and predictions into Engage, Saylent’s clients will now have the ability to gain a deeper understanding of their customers and predicted behaviors, allowing them to take action with better results. This expands the power of Engage to not only provide insights based on behaviors already taken, but to also highlight opportunities that would be unknown by analyzing transactional history alone.