MTS-Bank is optimizing digital marketing using a cloud platform based on AI. The project was developed by the Singapore-based startup SoMin from the corporate accelerator of the MTS StartUp Hub Innovation and Investment Center.
The system processes public data from social networks about potential clients interacting with other financial institutions and with thematic groups subscription. AI also evaluates the content of MTS Bank for individual audience segments. All this allows to set up more accurate targeted advertising.
As part of the pilot, MTS-Bank carried out four advertising campaigns: two using the SoMin platform and two traditional ones. According to its own data, campaigns using AI showed better results and turned out to be 20% more effective. The bank notes the platform saves advertising costs and attracts more customers for the same budget.
Other companies in the MTS group are also planning to use SoMin technology. The startup became a member of the fifth MTS accelerator batch in the Financial Technologies track. SoMin spent 4 months as a pilot with MTS-Bank after finishing the acceleration program.
In 2020, 68% of Russian companies used machine learning or AI technologies. For example, grocery retailers used technology for planning warehouse stocks and recruiting, and banks used voice assistants based on a neural network.
