Wipro Technologies, a provider of information technology, consulting, and outsourcing services, has launched Wipro SmartOffers, a location-based solution for banks, in partnership with Intuition Intelligence.
Wipro SmartOffers, primarily targeted at retail banks, will help increase coupon redemption rates by delivering the right offers to the bank's customers via their mobile phones or the Internet. The solution leverages Wipro's mobile-based applications IP, data models, and partner's algorithms to deliver highly targeted offers. Wipro is working with Intuition Intelligence, creator of a patented machine learning algorithm that applies rapid real-time learning to target coupons.
Wipro's SmartOffers supports iOS and Android-based smartphones. This solution will link the bank's internal and external ecosystem; leading to new revenue streams centering on offer optimization and redemption.
"We expect Wipro SmartOffers to enable banks to pre-empt commoditization by building brand loyalty and creating additional revenue streams. We are already testing the concept with several banks across the globe, which gives us a first-mover advantage and are very encouraged by the prospects," said Vijay Sharma, global domain head of banking and financial services at Wipro Technologies, in a statement.
"Our unique Intuition Intelligence Super Relevancy Engine proactively brings real-time, contextually relevant offers to digital banking customers by server and client-side learning. Unlike the aggregator centric models currently in practice in the market, this solution champions the Bank Centric Offer Model," said Arif Ansari, founder of Intuition Intelligence, in the statement.