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Overview: The Co-operative Bank: Revolutionising consumer lending market strategy
How we helped The Co-operative Bank to deliver more inclusive financial solutions for customers
The Co-operative Bank have been looking at ways to diversify, to deliver more inclusive financial solutions for customers. To achieve this, they are introducing our Ascend Analytical Sandbox, which offers comprehensive market insights and risk management capabilities. This innovative approach aligns with the bank’s commitment to ethical banking and proactive customer support, ensuring that they can meet the diverse needs of their customers while maintaining their high standards of responsibility and care.
Challenge overview
To support business growth and understand the market opportunity for a new targeted mortgage product, the bank needed a comprehensive understanding of the market potential and effective risk management.
This required a total market view to analyse true market opportunities, identify niches and value, and overlay their risk appetite to relevant segments. By doing so, they aimed to ensure that any new products would resonate well with customers.
Challenges
- Understand the market potential
- Manage associated risks effectively
- Overlay their risk appetite to relevant segments
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Company Bio:
The Co-operative Bank is the original ethical bank in the UK, deeply rooted in the co-operative movement. Committed to values of fairness, transparency, and social responsibility, the bank continuously strives to make a positive impact on the planet, people, and communities. This ethical foundation drives their mission to support customers’ financial well-being and address their evolving needs.
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|---|---|
| Founded: | 1872 |
| Industry: | Banking and financial services |
| Number of employees: | 3,400 |
Ascend is a useful analytical sandbox for quantifying the credit risk of market segments based on their bureau characteristics. It provides access to large amounts of industry data, allowing bespoke analysis to be conducted on niche segments of the market, which would not be possible using internal data.
Solution overview
The Ascend Analytical Sandbox has played a part in supporting business decisions, leading to positive outcomes. Our revolutionary analytical platform provides a total market view, offering unique insights and a thorough analysis of market opportunities and their value. The platform also includes a risk appetite overlay, enabling banks to align market opportunities with their risk strategies effectively, and it dispels misconceptions by providing detailed insights that highlight actual performance.
The ongoing use of the Ascend Analytical Sandbox aims to drive significant value for The Co-operative Bank and its customers, allowing them to put insight at the heart of business planning, helping to shape growth strategies, and increase speed and profit, through more confident business and customer decisions.
Our advanced analytics environment is built to deliver deeper insights, data visualisation, business intelligence and model development — with great speed, security, scalability and flexibility.
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Results
- Facilitated approval to enter new customer segments for mortgages
- Projected increase in new market lending of approx. 3% per annum, assuming market share alignment
- The agile response enabled quick pursuit of opportunities and rapid risk mitigation
Revolutionising consumer lending market strategy with Ascend Analytical Sandbox
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