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Hyundai Card background image Personetics

Hyundai Card Case Study

Personetics Provides Hyundai Card Customers an Impactful Personalized Experience

Download the Case Study

Hyundai Card Case Study

Personetics Provides Hyundai Card Customers an Impactful Personalized Experience

Download the Case Study

Hyundai Card + Personetics achieved

19%

CTR On Insight CTAs

800,000

Click-To-Action Conversions Per Month

4.8 out of 5

Average Insight Rating

+100

Custom Insights Via The Personetics Engagement Builder

Executive Summary

Hyundai Card image Personetics

Executive Summary

As part of an aggressive growth strategy, Hyundai Card partnered with Personetics to help create a customer experience that would stand out in a crowded marketplace, enabling them to deepen relationships with their current customers while making them an attractive option for new ones.

Hyundai Card implemented the Personetics’ Engage solution to leverage their customers’ financial transaction data and provide their customers with a better understanding of their spending patterns. Hyundai Card then proceeded with the Personetics Engagement Builder for easy customization of current insights, and quick deployment of new ones.

Hyundai Card and Personetics in Numbers

19%

CTR ON INSIGHT CTAS

800,000

CLICK-TO-ACTION CONVERSIONS PER MONTH

4.8 out of 5

AVERAGE INSIGHT RATING

+100

CUSTOM INSIGHTS VIA THE PERSONETICS ENGAGEMENT BUILDER

The Challenge: 

  • Stand out in a competitive market
    Hyundai Card wanted to stand apart from the intense competition in their market by utilizing their vast amounts of financial transaction data to provide a digital customer experience and level of service that would foster customer engagement.
  • Drive engagement with timely guidance
    They wanted to get a better understanding of their customers’ financial lives and in turn, to do a better job of alerting customers to the many ways they could benefit from using their Hyundai Cards. They felt that giving customers those timely, contextual insights into ways they could improve their financial well-being with Hyundai Card would improve customer loyalty, drive cross-sell of additional products, and reduce the likelihood of customer churn.
  • Create an innovative customer experience
    Hyundai Card’s goal was to proactively provide a customer experience that stood out from the competition. They did not want to wait until the customer approached them asking for something they needed. Hyundai Card prides itself on providing their customers with information that helps them manage their money and improves their digital experience.

“Hyundai Card has always prided itself on being innovative when it comes to serving our customers. We didn’t want to wait until they said, “I need this.” We wanted to give them information that would help them manage their money and improve their digital experience with Hyundai Card. Personetics, with their ability to take financial transaction data and turn it into valuable insights and advice, was the perfect partner for this endeavor.”

Senior Manager

of Hyundai Card

The Solution

Hyundai Card knew they needed a partner to help them achieve their lengthy list of ambitious goals. They selected Personetics for their wide range of powerful, proven money management capabilities.

After a smooth implementation, Hyundai Card began using the Personetics’ Engage solution to leverage their customers’ financial transaction data and send out timely, contextual, personalized insights and advice, such as spending forecast based on recurrent activities, notifications on duplicate charges, subscription cancellations, and category anomalies. These insights gave customers a better understanding of their spending patterns and alerted them to the benefits – both daily and annual – available to them as card owners.

Hyundai Card saw an almost immediate improvement in both customer engagement and the number of digital users. They then built on that great start by taking a critical next step with Personetics’ Engagement Builder, Personetics’ codeless creation & management console. Hyundai Card took what they learned from their customers’ interactions with their digital platform and used the Engagement Builder solution to customize their insights and create new ones to better target their customers’ needs.

Since the start of their partnership with Personetics, Hyundai Card has used Engagement Builder to create over 100 custom insights. They can build new, complex insights in just two to three weeks and generate simple insights in just one week.

Hyunday Card mobile app Personetics

 

Hyundai Card have also began leveraging open banking data – both credit card and banking data in the Korean market. With access to multiple external data sources, Open Banking enables Hyundai Card to visualise the
complete and holistic cash flow and financial performance of their customers. Hyundai Card uses these capabilities to generate additional
targeted insights on spending management.

Hyundai Card mobile app Personetics

Results: Since implementing Personetics, Hyundai Card has seen an immediate impact.

4.8

SCALE OF 1-5

Customers have given the insight they’ve received an average rating of 4.8 on a scale of 1-5

800,000

TIMES PER MONTH

Hyundai Card customers have clicked through from these insights to additional products and services an average of 500,000 times per month

+100

CUSTOM INSIGHTS

via the Personetics Engagement Builder

It’s no wonder then that Hyundai Card has improved its customer retention rate, while also increasing account balances.

What’s Next 

  • Expansion
    Hyundai Card recently extended its partnership with Personetics and is pursuing their goal of 7 million to 10 million users.
  • Enhanced Customization
    Hyundai Card intends to continue using Engagement Builder to create and customize their content, with plans to launch 40 new insights this year.
  • Apple Pay Integration
    Hyundai Card also recently became the first Korean credit card to integrate with Apple Pay. They are working on a custom insight that, based on certain transactions at specific merchants, will alert customers when they can use Apple Pay.
  • Spending Management
    Hyundai Card is particularly interested in creating insights that focus on spending management. They have noticed how much the rising cost of living has impacted a substantial portion of the Hyundai Card customer base, and they believe they can share valuable guidance and advice to add their users.
  • Smart Budgeting and Subcription Management
    Hyundai Card also plans to implement smart budgeting tools and subscription management and are looking at integrating Personetics with their existing marketing systems to improve customer outreach.

“Our customers’ lives – the challenges they face and the opportunities they want to seize – are always changing. Hyundai Card must keep changing as well, so we can give customers the help they need to reach their financial hopes and dreams. It’s a journey of constant innovation; we’re happy that Personetics is here to make it with us.”

Senior Manager

of Hyundai Card

“Hyundai Card thinks about their products the same way we do at Personetics: Start with the customers’ needs and then work from there to develop the offerings and services that will enable them to take control of their financial lives. We’re proud to have played a role in what Hyundai Card has done so far for millions of customers, and we’re excited to partner with them on the next steps in their relentless efforts to drive customer engagement and business impact.”

David Sosna

CEO

Personetics

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