India: Wipro Technologies launched Wipro SmartOffers, a location-based solution for banks, in partnership with Intuition Intelligence. Targeted at retail banks, SmartOffers will help increase coupon redemption rates significantly by delivering the right offers to the bank”s customers over the mobile or the internet.
The solution leverages Wipro”s mobile based applications IP, data models and partner”s algorithms to deliver highly targeted offers. It is a multi-channel application that is integrated with the bank”s retail mobile and online offerings, and supports iOS and Android based smartphones. This solution will link the bank”s internal and external ecosystem; leading to new revenue streams centering on offer optimization and redemption. Wipro is working with Intuition Intelligence who has a patented machine learning algorithm that applies rapid real time learning to target coupons.
Vijay Sharma, global domain head – banking and financial services in Wipro Technologies, said, “We expect Wipro SmartOffers to enable banks to pre-empt commoditization by building brand loyalty and creating additional revenue streams. We are already testing the concept with several banks across the globe, which gives us a first mover advantage and are very encouraged by the prospects.”