Using statistical models to understand a decline in remittance transactions
Company Size
1,000+
Region
- Asia
Product
- Blueocean Market Intelligence analytics
Tech Stack
- Statistical models
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Revenue Growth
Technology Category
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Predictive Quality Analytics
Services
- Data Science Services
About The Customer
The customer is a leading money exchange company operating in the financial services industry. They specialize in facilitating remittance transactions between different countries. Recently, they experienced a decline in transaction volume from Country X to Country Y, which prompted them to seek solutions to understand and address this issue. The company is committed to understanding its customer trends and transactional patterns to improve its services and maintain its leading position in the market.
The Challenge
The client, a leading money exchange company, experienced a decline in remittance transactions from Country X to Country Y. They identified several factors responsible for the decrease in transaction volume and sought the expertise of Blueocean Market Intelligence to investigate and develop a plan to address these challenges. The client needed to understand the transactional and customer trends by key variables such as age, emirate, and send agent. They also wanted to measure the impact of exchange rate, margin percentage, and competitor pricing on transactional volume.
The Solution
Blueocean Market Intelligence approached the problem by first conducting an exploratory analysis to understand the transactional and customer trends by key variables such as age, emirate, and send agent. They then created statistical models to estimate the impact of margin percentage on transactional volume and measure the impact of exchange rate and competitor pricing on transactional volume. Through this comprehensive analysis, Blueocean was able to identify the key issues impacting the transaction volumes and provide actionable insights to the client.
Operational Impact
Quantitative Benefit
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