ICICI Bank - M2I Loyalty Platform.
Remittance transactions increased by 15%
Build a Loyalty & Reward program to support multiple-currency & segregate customers based on their transactional AVT (Volume/no. of transactions) and Frequency.Reward program compliance with the regulatory guideline.
- Preferential exchange rate
- Increased limits for transfers
- Waive exchange fee etc.
ICICI Bank is one of the leading players in the Indian remittance market.ICICI bank also offers a wide range of banking products and financial services for corporate & retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment & retail banking.
M2I (Money2India) is a safe and simple online service for tracking money transfers from 9 countries viz. USA, UK, Singapore, Canada, Australia, Hong Kong, Sweden, Switzerland, & UAE. The objective of the Loyalty program is to improve customer engagement and retention with M2I.
Customers & huge transactions volume
- 1.5 Million existing customers
- $ 3 billion transactions
- 15 + years data
One-size fits all issue
- 36 Sub-Categories based on countries & respective currency – Blue, Silver, Gold, Platinum
- Complex logic & calculation based on the exchange rate
Rules to track & auto-categorization
- Dynamic rules to track based on the exchange rate
- Upgrade & Downgrade in the category as per transaction rules
M2I loyalty platform application offers a dynamic and real-time rule engine platform that allows a marketer to create campaigns to personalized promotions & build omnichannel customer experience.
M2I loyalty platform utilizing Rule Engine to create dynamic loyalty & reward rules.
Technology Stack :
Ruby, Rails (RoR), MySql, Cron jobs, Sidekiq, Redis, State_Machine framework, Cancancan,Unicorn, Nginx, Capistrano
AWS & Enterprise Linux Server
CI & Repository :
Gitlab & CI
- Use of Wongi-Engine as Rule Builder
- Built REST-API interface to integrate with existing ICICI M2I platform
- Data mapping & migration to newly developed loyalty DB Dashboard display loyalty metric & KPIs
- Generate on-demand reports based on attributes.
- Architecture for making M2I loyalty application production-ready.
- Set-up M2I loyalty application in the cluster to serve bigger loads
- Notifications and alert mechanism in case of failures
- Deployment on Client’s Red Hat Enterprise Linux using Docker instance
15% increase in the number of transactions per month
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