Wipro Technologies on Monday announced the launch of “SmartOffers”, a location based solution for banks, in partnership with Intuition Intelligence.
“Wipro SmartOffers, primarily targeted at retail banks, will help increase coupon redemption rates significantly by delivering the right offers to the bank’s customers over the mobile or the Internet,” the city-headquartered company said.
The solution leverages Wipro’s mobile-based applications IP, data models and partner’s algorithms to deliver highly targeted offers, it said.
Wipro is working with Intuition Intelligence who has a patented machine learning algorithm that applies rapid real time learning to target coupons, the company said.
Vijay Sharma, Global Domain Head — Banking and Financial Services, Wipro Technologies, said: “We expect Wipro SmartOffers to enable banks to pre-empt commoditisation 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.”
Arif Ansari, Founder of Intuition Intelligence, Inc, said, “Our unique Intuition Intelligence Super Relevancy Engine proactively brings real time, contextually relevant offers to digital banking customers by server and client side learning. Unlike the aggregator centric models currently in practice in the market, this solution champions the Bank Centric Offer Model.”