The Power of Data: A Case Study in Using Business Analytics to Analyze Digital Activation Status


Industry: Financial Services  

Company: Asset Management Company

Company Description

The company is one of the leading Asset Management Companies of Pakistan managing USD 800 million in investment solutions like open-ended mutual funds, pension funds, and investment advisory portfolios.

Business Objective

Determining the Digital Footprint of the Company.

Business Challenge

The company revamped its existing digital platforms and introduced new platforms/services for its investors for conducting digital transactions, opening digital accounts, and viewing or managing account-related information.

However, there was no regular monitoring or analysis of the digital footprint, and the stakeholders were facing the below-mentioned challenges;

  • Inability to make informed decisions
  • Inability to implement changes in digital strategy to align it with the company objectives
  • Inability to measure the effectiveness of marketing and advertising efforts
  • Limited understanding of customer behavior and preferences
  • Difficulty adapting to market changes
  • Reduced competitiveness

In this respect, the company commissioned the BI Team to analyze and develop a regular reporting mechanism to analyze data of digital platforms and channels.

Available Data Points

The following key investor data points were available for analysis captured in the core system at the time of investor digital or manual account opening, processing of transactions and registration of customer complaints:

Unique Identifiers:

  • Account number
  • Unique identification number

Investor Details:

  • Customer Name
  • Gender, Age, Occupation
  • Client Type
  • City Name
  • Country Name

Investment Details:

  • Product(s)
  • Sub Products
  • Amount
  • Digital and Manual Transactions

Services Availed:

  • Value-added services activation status

Digital Account Opening Applications :

  • Application ID, Account Opening and Funding Status
  • Application Verification Tracking and Status
  • Type of Application; Basic or Regular
  • Documents Attachment

Complaints Data:

  • Segment wise Complaints Details, Complaint Categories, Complaint Resolution Status and TAT

Data Analysis for Key Insights

The BI team used the published data sources scheduled for daily updates compiling data from multiple database tables accessible for big data analysis using data warehousing (MS SQL Server) and analytical tools (Tableau Server and Tableau Desktop).

Further, a regular reporting suite of the following areas was developed for the relevant stakeholders to utilize key insights from the data to make changes in the digital strategy or to make critical decisions to achieve operational efficiency/ increased revenue:

  • Analysis of Basic account opening applications with end-to-end tracking numbers, funding status, investment details
  • Analysis of Regular account opening applications with end-to-end tracking numbers, funding status, investment details
  • Digital transactions analysis including monthly patterns and trends
  • Analysis of value-added services

The analysis of key data points revealed that;

  • Nearly 41% of digital account opening applications were converted into digital accounts
  • Key reasons for the rejection of accounts were identified and reported
  • Active customers had a higher digital activation ratio than dormant customersOf all the digital platforms, customers preferred to use mobile application for conducting digital transactions
  • Majority of customers used WhatsApp to view account balances and statements
  • 60% of the transactions were conducted using digital platforms, and 40% were conducted through paper-based forms
  • 65% of customers who applied for debit cards were issued the same
  • Key reasons for the rejection of debit card applications were identified and reported
  • Investments from different investment channels were analyzed and it was determined that customers prefer to invest funds by transferring money directly from their bank accounts
  • Usage of digital platforms for transactions by customers resulted in increase in cost savings of 34% as compared to the previous year
  • Segments of digital services were identified where majority of the customer complaints were received

The key insights were shared in a formal report with relevant stakeholders in the company to take timely actions.


On the basis of the above insights, the key stakeholders of the company were able to develop and implement strategies to increase revenue and cost saving from digital services which involved taking the following actions:

  • Digital strategy was revised based on key data insights to target the right customer base for selling debit cards, activation of digital services and cross selling of other account types
  • Based on the analysis of digital transaction patterns, features to ease the transaction initiation from the digital platforms were introduced
  • Marketing budget was allocated for digital platforms and campaigns were introduced to onboard investors digitally.
  • Further to reduce the rejection of digital account opening applications, below actions were taken;

–      Changes were made in the digital account opening form to obtain only required information

–      Video KYC was introduced for investor verification in high-risk cases

–      Training was provided to the inside sales team for the facilitation of new investors in the account opening process

  • To reduce the rejection of debit card applications, the digital debit card application feature was introduced with validations to cater to majority of the rejection reasons related to insufficient balance, lack of required documents etc.


As a result of this activity, the company was able to achieve the following outcomes:

  • Conversion ratio of digital account opening applications was improved, and rejections were reduced
  • Number of digitally active customers increased as compared to the previous year
  • Frequently used digital application features were introduced on the Mobile application which improved the ratio of the digital-to-manual transaction resulting in significant cost savings
  • Transaction services were introduced on WhatsApp which further enhanced the digital-to-manual ratio
  • The introduction of digital debit card application reduced the number of rejections significantly resulting in increased revenue from the increased issuance of debit cards

Key Highlights of the Analysis