Banco de Crédito del Perú: gaining an additional US$76 million in deposits annually with innovative BI portal

Banco de Crédito del Perú (BCP), part of the Credicorp Group, is the leading supplier of integrated financial services in Perú. The bank has approximately US$39 billion in total assets, and a market share of 30.4 percent in total loans and 33.5 percent in total deposits.

Challenge

One of BCP’s guiding principles is customer centricity, which is demonstrated daily through its innovative products and services. BCP’s Crecemás (meaning Grow More in Spanish) is a prime example.

This web-based business intelligence (BI) application allows BCP commercial clients to view key performance indicators (KPIs) about their business, their clients, and, even, their competition. The platform analyzes a wealth of anonymized financial and transactional data, including 50 percent of all national credit card transactions, to support business decisions.

However, to make applications like Crecemás possible, BCP had to break down data silos.

“We needed to modernize our architecture to accompany our digital transformation,” said Erick Jaramillo Salazar, manager of BCP's Big Data Center of Excellence.

Solution

BCP powers its business intelligence tool, Crecemás, with Cloudera on Microsoft Azure. 90 terabytes of data from the company’s mainframe and data warehouse is combined and uploaded to Cloudera on Azure for analysis. An automated process encrypts and anonymizes data before it’s loaded into the cloud for analysis and visualization of KPIs based on customer debit and credit transactions.

As a result, Crecemás users now have the following insights:

• Business insights including frequency of visit, total amount of sale, and average ticket

• Customer insights segmented by gender, age, place of origin, income level, digital profile, type of card, and loyalty

• Competitive insights from establishments that are considered competition based on their type of sale and physical distance

“We’ve turned information into a business asset that delivers substantial value to our clients,” said Erick Jaramillo Salazar.”

Salazar’s team is also using Cloudera to create new “data towns” to drive other digital products, as well as a new corporate data lake to enable self-service analytics and empower a data-driven culture focused on continuous improvement and innovation.

“By changing the way we manage the data, we can promote more collaborative work and are closer to the needs of our customers,” said Erick Jaramillo Salazar.

Implementation

Fast time-to-market for new products and services is vital in today’s rapidly moving marketplaces. Using Cloudera on Microsoft Azure, BCP could reduce development time by 80 percent and efficiently deploy the solution in just fourteen weeks, with its personal data protection and security policies replicated in the cloud.

“Cloudera SDX is very important because it can help us maintain data governance and security in a hybrid environment,” said Erick Jaramillo Salazar. “Our Cloudera data lake is primarily on prem, but we have implemented Cloudera on Azure for Crecemás as it offers the elasticity along with innovative AI tools and libraries that we need.”

Results  

Crecemás stands as a prime example of BCP’s work to transform data into a business asset to better serve customers and generate incremental revenue. Approximately 970 businesses currently use this innovative service. Customer satisfaction scores have soared to 91 percent, exceeding the company’s goals. Additionally, BCP has gained US$76 million (S/250 million) in new deposits annually.