Data-driven corporate transaction banking share-of-wallet estimates

Summary

This work focuses on the estimation of corporate customers’ Share-of-Wallet. Share-of-Wallet is defined as the percentage of a customer’s total expenses for a product captured by a company. It has been used as a measure of both loyalty and profitability and is known to have a positive impact on attrition, retention and profits. The first step in creating loyalty is to understand why your customer has chosen to do business with you in the first place and then find spending patterns across competitors. Our aim is to reveal patterns that help us estimate an unbiased share of wallet and develop a model to predict potential customers for growth. We propose to transfer the experience of humans into machines, within a novel human-in-the-loop monitoring system. The benefits of increasing a customer’s share of wallet go far beyond boosting revenue and include improving client retention, customer satisfaction, and creating a loyal, built-in market from which to offer new products in the future.