DeepTarget Celebrates Another Successful Year of New Customers, Partnerships, Alliances, Industry Recognitions and Technology Development in 2021
Patented DeepTarget DXP Delivers 3+ Billion Impressions & 80,000+ Cross-Sells in 2021
DeepTarget Inc., a solution provider that utilizes data mining and business intelligence to deliver targeted engagements across digital channels for banks and credit unions, shared new business developments, organizational accomplishments and growth milestones over the past year. Most notably, DeepTarget’s Digital Experience Platform™ (DXP) delivered 3.3 billion impressions in aggregate in 2021, driving over a million engagements and resulting in over 80,000 new cross-sell products and millions of revenue dollars for its credit union and bank customers.
CUSTOMER RESULTS The thousands of consumer loans, auto loans, and credit cards sold through DXP communications validates the trend DeepTarget reports: Once a customer engages with a uniquely specific and personal offer, they buy at a rate averaging 7 percent, and this number is often higher. For example, Michigan Schools and Government Credit Union, a finalist in the 2021 Inaugural DeepTarget – Access Softek Digital Impact Awards, used DXP for their “Everyday Extras Campaign” generating an engagement rate greater than 7 percent and more than 15 percent year-over-year growth in debit and credit purchase activity. Similarly, Montana-based Russell Country FCU used DXP for their “Home Loan + Us = Happiness” campaign to sign 31 home loans with a booking value of $4.9M in just 30 days.
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“We are delighted with the way in which this industry is embracing openness and choice for financial institution customers”
INNOVATION & INTEGRATIONS DXP, featuring innovations such as artificial intelligence, 3D StoryTeller™, significant automation, and high scalability, was awarded a patent in October. In 2021, new DeepTarget integrations with leading digital banking providers to enable customer-petitioned integrations included Q2 eBanking, Q2 Smart and Jack Henry’s Banno digital banking platform. These integrations made DeepTarget’s DXP and 3D StoryTeller™ more accessible to FIs using those systems. Currently, DeepTarget is integrated with 26 digital solutions.
“We are delighted with the way in which this industry is embracing openness and choice for financial institution customers,” said Brian Holloway, Vice President of Marketing, at Andrews Federal Credit Union. “The benefits are directly passed on to our members. With DeepTarget integrating seamlessly with our existing Q2 banking solution, we were in production very quickly. The personalized capabilities DeepTarget brings to our overall digital experience enables us to better connect, understand and anticipate our members’ financial needs, resulting in enhanced member satisfaction and a more successful organization.”
DIGITAL TRANSFORMATION With the pandemic blowing up digital banking use, DeepTarget successfully transitioned from its legacy user-based pricing to a new Enterprise licensing model, enabling unlimited customer engagement and seamless multi-channel presence. DeepTarget’s open-channel APIs leapfrog siloed communications with much-needed consistency across an ever-expanding digital landscape, including ATMs, eDocument access portals, and even unique print management for specific and personal communications. DXP is quickly becoming the defacto connector as always-present messaging entices action. Customer engagement invariably includes product offers but also expands to other areas such as chat integration, onboarding actions, rewards management, and financial learning opportunities as FIs harmonize their communications to reflect their understanding of customers’ financial journeys.
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PARTNERSHIPS & ALLIANCES 2021 brought expanded relationships and deeper integrations with strategic reselling partners Alogent, Access Softek, MDT, Share One, and Cathedral Corporation, who all now offer integrated DXP Enterprise Licensing. Relationships were deepened with important Referral Partners, including MEA Financial and Jack Henry with DXP becoming an innovative and modern integrated engagement option. This past year also delivered acceptance of socially-inspired 3D StoryTeller, which is proving to accelerate engagements and provide customer stickiness.
NEW CUSTOMERS DeepTarget signed 21 new contracts in 2021 including new-logo enterprise customers such as BNC National Bank, Sunbelt FCU, Dade County FCU, and SkyOne FCU. DeepTarget also expanded its engagement with many of its existing 200 customers with extended channel integrations and 3D StoryTeller additions, including Ohio Valley Bank, LAFCU, and Signature FCU.
INDUSTRY RECOGNITIONS Finally, DeepTarget was rewarded by the industry. DeepTarget’s technology has been featured at Finovate West, awarded Best Solution for Improving Operations at the FinXTech Awards, and shortlisted as finalist for FinTech Futures Banking TechAwards in the Best Smart Banking Tech Solution category. Leading financial services, banking and credit union publications and podcasts also recognized DeepTarget’s technology and impact on the industry in feature bylines and articles throughout the year.
“As exciting as 2021 was, our expectation of accelerated adoption of DeepTarget this year has never been higher. Digital engagement is transformational for financial institutions and those who don’t give this initiative the energy it deserves are going to be left behind.” said Preetha Pulusani, CEO and founder of DeepTarget. “A major challenge for FIs is figuring out how to effectively and affordably deploy digital customer/member engagement. With DXP’s automation and innovative use of AI and BI, we have been able to serve very small FIs with virtually no marketing staff as well as technically sophisticated, larger ones who are highly data-driven and analytics-savvy. As we go into 2022, we expect many more FIs taking advantage of DXP to identify buyer intent and automate the seamless delivery of personalized offers resulting in an up to 10X increase in product sales.”
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