Customer:
Blossom Bank also known as BB PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management and payments services, headquartered in Akoka, Yaba, Lagos.
Problem:
Blossom Bank wants to streamline and automate its loan eligibility assessment process (real time) based on customer details.
I was hired as a Data Analyst to analyze customer data and provide recommendations to improve the Bank’s efficiency, enhance accuracy, and provide a seamless experience to customers. I was also required to identify the customer segments that are eligible for loans so that the Bank can specifically target these customers.
Solution:
Insights
The average yearly balance of customers is 1362.32 euros. More than 55% of customers have housing loans. Only 16% of customers have personal loans. Less than 2% of customers have credit in default.
The top defaulters by job are customers with blue-collar job and the customers that work in management. These set of customers are salary earners, so their default might be as a result of delay in salary payments.
Millennial customers that have blue-collar jobs, management jobs and Technicians have the most defaults. Therefore, they shouldn’t be offered huge loans
Recommendations
Considering the average yearly balance of customers, which is 1,362 euros. During campaigns, Blossom bank should give more attention to customers that are retired, entrepreneurs, self-employed and customers that work in management sector, because they are the set of customers that have most savings (yearly balance).
Customers that have tertiary education are the customers with most savings (yearly balance). So Blossom bank should give more attention to these customers during campaigns.
Also, customers that falls in the age group; Gen Z, Gen X, Boomers, Post War, should be given more attention during campaigns because they also tend to have most savings (yearly balance)
Eligible Customer Segments
For a customer to be eligible for loan, the customer must have these criterial;