CPattern, a provider of software solutions in the field of foreign exchange (and other fields as well) launched a new and interesting product: a tool for detecting when traders are about to abandon. The early identification allows brokers to encounter such cases and perhaps to prevent the abandonment.
Earlier, CPattern launched a product called Converter, used to identify when traders are about to convert from demo traders to real ones. Another product is the interest “Guardian Angel” tool for traders. More details from the press release are available below:
CPattern, the pioneer of real time Business Intelligence in the trading industry, announces the launch of a new analytics tool: Detection of Early Signs of Customer Abandonment.
After intensive research into traders’ behavior, based on historical data of thousands of traders, CPattern is now capable of modeling trading patterns that are associated with abandonment. The innovative service allows brokers, for the first time, to be one step ahead of their customers: CPattern sends the broker signals in real time when a given customer starts showing signs of abandonment. This highly valuable data enables the broker’s retention agents to engage with the right trader, at the right time and with the right reason.
Online brokers need to crunch enormous amounts of data on a daily basis and the larger the broker, the more difficult it becomes to monitor the data and extract meaningful information. In most cases, when traders choose to quit trading, brokers will learn about it only after it has already happened, and getting customers back to trade requires significant efforts and resources. This new service allows brokers, for the first time, to monitor all their traders’ activity in a very simple way and in a matter of seconds.
“Identification of signs of abandonment touches a sensitive nerve in the industry”, says Oded Shefer, CPattern’s founder and CEO: “We are leading a revolution in customer retention. Our behavioral models and technology now enable brokers to make customer retention more data and timing driven, efficient, systematic, objective, and accurate. Along with the Converter (real time identification of demo users likely to make a deposit) and the Guardian Angel™ (a powerful real time personalized feedback system), CPattern now offers a comprehensive value chain across the trader’s life cycle”.
The VP Marketing of a large broker in Turkey recently commented on the new service: “My sales agents are really happy with CPattern’s signals. It makes their job much easier. The sales agents can now contact customers and demo users exactly when needed. CPattern’s signals allow us to monitor all the trading activity and react almost immediately to many types of complex events. This is the next generation of customer care”.
CPattern is already working with several leading brokers, and collaborates with Boston Technologies and LivePerson to deliver its analytics services to online brokers.