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‘Home loan opportunities have tripled’: NAB, ANZ, Commbank eye huge ROI from real-time decisioning – as retail and consumer brands move in

Most of Australia’s biggest banks, along with globals like Wells Fargo, Citibank, and Rabobank are betting large on Real-Time Interaction Management (RTIM) – also called real-time decisioning. It doesn’t come cheaply: Forrester Research suggests average annual costs if circa $1.7m, sometimes running as high as $7m. But those investments are paying off – and some banks are generating returns into the hundreds of millions of dollars. Hence customers tend to pick and stick, with 80 per cent saying they are happy with their suppliers. Pega and SAS dominate – with the former in particular carving out Australia’s addressable market. But there’s also room for others in a category that extends into journey orchestration, personalisation, and cross-channel marketing – particularly as retail and consumer brands start to pile in.

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‘Home loan opportunities have tripled’: NAB, ANZ, Commbank eye huge ROI from real-time decisioning – as retail and consumer brands move in

Most of Australia’s biggest banks, along with globals like Wells Fargo, Citibank, and Rabobank are betting large on Real-Time Interaction Management (RTIM) – also called real-time decisioning. It doesn’t come cheaply: Forrester Research suggests average annual costs if circa $1.7m, sometimes running as high as $7m. But those investments are paying off – and some banks are generating returns into the hundreds of millions of dollars. Hence customers tend to pick and stick, with 80 per cent saying they are happy with their suppliers. Pega and SAS dominate – with the former in particular carving out Australia’s addressable market. But there’s also room for others in a category that extends into journey orchestration, personalisation, and cross-channel marketing – particularly as retail and consumer brands start to pile in.

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Booming shopping apps Temu and Shein trigger surge in digital ad costs, pressure ecom pureplays

Australian ecommerce sales grew 4 per cent in the March quarter but China’s surging shopping apps, led by newcomers Shein and Temu, are outbidding rivals and pushing up digital ad costs globally. It’s partly behind retailers refocusing on loyalty programs and loyal shoppers for growth instead of more expensive customer acquisition via media channels – search and social particularly. Shein and Temu are both nudging $1bn in online sales each in Australia. According to March Quarter digital commerce data from Salesforce, luxury handbags, toys and consumer electronics were categories hit hardest while budget and mid-range handbags increased 7 per cent and health and beauty overall was pacing at a 12 per cent increase.  

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