Sumitomo Mitsui builds largest Japanese financial marketing database

Sumitomo Mitsui Banking’s newly expanded market database built on the Teradata Active Enterprise Data Warehouse has recently become the largest marketing database in Japan’s financial industry, claims Teradata.

Having started operations in late September, Sumitomo Mitsui Banking’s (SMBC) marketing database is now four times as large as its predecessor.

Marketing databases used in Japan’s financial industry are generally called ‘MCIF’ (marketing customer information files). They are used to gather customer information on basic attributes, transactions, deposit or withdrawal details, contact history, and other data for effective marketing. SMBC, one of the three mega-banks in Japan, has been using a Teradata-based MCIF since late 1990s for database marketing.

Enabling business analytics

SMBC’s recent expansion of marketing database is said to accommodate business growth, carries several years of detailed historical data on customer transactions, and enhance customer service by analysing and understanding transaction trends and changes more accurately.

Are database admins keeping up with the database?

For example, marketers can gain customer insight by exploring self-service terminal interactions that affect the customer’s balance. Marketers can quickly analyse interaction frequency and changes in payee accounts, which helps the bank offer home loan service to customers who are considering purchasing a house, or offer card loan service to those who need a small amount of funds.

More from ITWorld Canada

Recession-proofing your core analytics

Marketers can also practise proactive marketing by using analytics to foresee customers’ financial needs. When analysis shows that a customer is inclined to leave for another bank, it is possible to contact them in advance and make an offer that helps retain them and maintain long-term relationships.

Multi-marketing channels

The results of the data analysis made by the MCIF system are used across a variety of marketing channels such as branches, terminal networks, the Internet and by the front-line salesforce to identify prospects.

“We are honoured that Sumitomo Mitsui Banking is building its Teradata system for querying its enormous amount of data,” said Yukihiko Yoshikawa, president of Teradata Japan. “Our database is used by many financial institutions not only for marketing but also for better faster decision making in business management, accounting and operations.”

Teradata specialises in data warehousing, consulting services and enterprise analytics.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Articles

Empowering the hybrid workforce: how technology can build a better employee experience

Across the country, employees from organizations of all sizes expect flexibility...

What’s behind the best customer experience: How to make it real for your business

The best customer experience – the kind that builds businesses and...

Overcoming the obstacles to optimized operations

Network-driven optimization is a top priority for many Canadian business leaders...

Thriving amid Canada’s tech talent shortage

With today’s tight labour market, rising customer demands, fast-evolving cyber threats...

Staying protected and compliant in an evolving IT landscape

Canadian businesses have changed remarkably and quickly over the last few...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now