Customer Lifecycle Intelligence (CLI) is the process of gathering the most relevant and actionable insights about a customer, so that a company inherently knows the next best actions to engage them at every stage in the customer lifecycle. From finding and winning the right customers for their business, products, and risk appetite, to guaranteeing fast, frictionless onboarding that surpasses both customer and compliance expectations, and finally delivering proactive in-life care with an experience that means customers never look elsewhere.
CLI complements the Customer Lifecycle Management (CLM) process by providing timely information about the customer as changes occur, and interpreting those changes to suggest a next best action. In this way, CLI strengthens the relationship between a company and its customers by better informing the timing and substance of any interaction.
For frontline teams such as relationship managers, customer lifecycle intelligence supports the customer acquisition process by providing access to tools and services to help select and engage customers that represent the ideal customer profile. During the early stages of the relationship, this might also involve automatically pre-screening against risk policies to surface any potential points of friction during the client onboarding process, enabling relationship managers to address them early on, creating an improved customer experience.
During client onboarding, customer lifecycle intelligence helps to accelerate customer due diligence (CDD) processes, automating many of the complex and time-consuming tasks associated with Know Your Customer (KYC) and Know Your Business (KYB) checks. This could include applying rules configured to a financial institutions risk appetite to automate the decisioning process or automate underwriting.
For existing customers, customer lifecycle intelligence delivers capabilities to proactively monitor accounts (in-life monitoring), tracking for changes in key financial metrics potential threats through adverse media.
Customer Lifecycle Intelligence (CLI) was coined by FullCircl, a company formed by the merger of Artesian Solutions Ltd and DueDil Ltd. In bringing together the capabilities of these to services, FullCircl realised a gap in the market existed for its services, especially in regulated industries.
Important features of Customer Lifecycle Intelligence (CLI) through FullCircl include:
- Relevant, up-to-date intelligence from the official, premium and niche data sources.
- Customisable rules to drive actions based on internal & external events.
- Strengthening clients’ operating model through APIs, notifications, and a web application.
- Partnerships to support critical functionality that is outside our expertise.
Visit fullcircl.com to find out more about Customer Lifecycle Intelligence through FullCircl.