It is not common for banks to communicate in a way that feels personal, but NAB's Customer Brain aims to achieve this. Launched in 2023, the AI-powered engine helps the bank provide tailored experiences for customers.
Christian Nelissen, NAB’s Chief Data & Analytics Officer, stated, "Our ambition is to become the most client-centric company in Australia and New Zealand. NAB’s Customer Brain is a key part of that strategy, helping us deliver simple, relevant and personalised experiences at scale."
Nelissen compared the AI's function to traditional banking service: "In the days long before the internet... They want to feel like their bank knows them, not just their account number." He explained that the technology enhances connections with customers through both human and digital interactions.
The Customer Brain guides over 50 million interactions monthly. It uses 2,000 data points to tailor actions such as reminders or nudges. Within a year, customer engagement increased by 40% when influenced by these prompts.
Jessica Cuthbertson from NAB described it as more than just tech innovation: “The Customer Brain was born out of the desire to use everything we know about our customers to anticipate needs." She added that more than half of its interactions focus on service and engagement because "being helpful builds trust."
Powered by Pegasystems' Customer Decision Hub, it makes millions of real-time decisions daily. It has adaptive models and data points driving next best actions. "Always-on doesn’t mean set and forget," Cuthbertson said.
Lisa Marchant from NAB highlighted how they standardized approaches early on: “Early on, we faced the risk of designing hundreds of different contact policies,” she said. This resulted in faster delivery and consistent experiences.
Real-world impacts include improved transaction dispute management with high engagement rates and messages recognizing home loan milestones performing strongly. Term deposit retention has also seen $92 million retained due to proactive prompts.
While significant benefits have been achieved with this scaled solution, further advancements are planned to enhance customer experience through the Customer Brain.