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Bancolombia

Personalization Thought Leadership Award Winner

Bancolombia, a prominent full-service financial institution operating in Colombia, Panama, El Salvador, and Guatemala, is recognized for its advancements in integrating personalization into its website and marketplaces. The bank expanded its team to 20 people in just three years. Known for its values of empathy, closeness, and warmth, Bancolombia faced a challenge three years ago: building lasting relationships with customers and prospects.
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We give the Thought Leadership Award to those who not only demonstrate exceptional overall expertise in the implementation of experimentation and personalization but also elevate others through sharing knowledge and insights that push the rest of the industry forward.
Although traditional financial institutions are typically slow to implement large-scale personalization programs due to regulatory compliance, unusable data, integration complexity, and limited internal resources, Bancolombia has been a leader in this space. Its team achieved significant results with personalization, scaling the program in just three years. The results were excellent for both the company and its customers, with a 1,000% increase in click-through rate (CTR) and a 66% increase in average time spent on the website seen from their efforts.

How Bancolombia Does It

Commitment to understanding its audience: after successfully launching personalization on its content site, Bancolombia identified patterns in visitor types. Recognizing that different customer segments had distinct personalization needs and responded differently to campaigns, Bancolombia analyzed traffic in collaboration with Dynamic Yield and committed to a macro-segmentation approach, guiding its roadmap for the future.

Scalability across various sections: in addition to personalizing the pre- and post-login experience for banking customers, the team also personalized its Tu360Compras marketplace. This traditional eCommerce site shares customers with the bank, enabling the team to utilize data from both to gain a comprehensive customer view and effectively target them.

Utilizing affinity profiles for real-time personalization: Through Dynamic Yield, the team tracks user affinity based on real-time activity with bank products, creating multiple experiences and delivering them automatically to relevant visitors via Affinity Allocation. The result is precise, relevant web content tailored to each user’s distinct preferences without tedious manual segmentation work.

What it looks like

Personalized landing pages
Social proof
Time-sensitive offers

Personalized landing pages

Bancolombia used a customized hero banner on its website's homepage to redirect visitors to a personalized landing page. This page contained product-affinity-based personalized elements. As a result of these multi-touch efforts, CTR increased by 8%, contributing to increased digital banking users.

Social proof

Testing social proof messages on specific products proved highly effective in increasing customer engagement with those products. Bancolombia implemented social proof messages on its less popular products or those newly launched to market, requiring a learning period. Social proof messages generated a +428.8% increase in engagement with these products.

Time-sensitive offers

On its Tu360Compras marketplace, Bancolombia tested limited time offers to visitors based on interest in specific products, implemented through pop-up windows with additional discounts and terms. Limited-time campaigns generated an +18% increase in conversions.

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What’s next?

Bancolombia is committed to creating an intuitive and seamless customer experience, recognizing personalization as the key tool to achieve long-term results. With the recent restructuring of its campaigns around macro-audiences, the team can refine KPIs for each group and experiment with campaigns targeting different audiences at various stages of the customer lifecycle. This is particularly important in the financial industry, where customers often feel overwhelmed by information and options. By presenting relevant content quickly, Bancolombia can drive long-term growth and alleviate pain points. With personalization, Bancolombia is empowered to uphold its values of empathy and warmth, consolidating its position as a thought leader in the financial industry.

The team behind the experiences

Gregorio SotoPersonalization Product Owner

Gregorio leads the personalization of Bancolombia’s customer interactions across various digital and physical channels, delivering value propositions that are contextual, timely, and relevant.

Natalia GarciaPersonalization Strategy Leader

Natalia leads the development and implementation of Bancolombia’s hyper-personalization strategy with cross-functional teams to create interactions that truly assist its clients and make their lives easier, demonstrating a genuine interest in helping them.

Oscar QuinteroTechnical Leader

Oscar has over 12 years of experience working in technology areas, actively participating in various projects that have honed his expertise, enabling him to lead technical teams and always ensure their professional development and the achievement of objectives.

Juan MoncayoSoftware Engineer

Juan has developed various use cases to improve the customer experience in digital assets, from initial setup and integration with other systems to optimization based on performance analysis and user feedback.

Andrés VargasSenior Backend Developer

Andrés is a seasoned Senior Backend Developer with nearly 10 years of experience. His primary role in the personalization project involves designing, developing, and deploying scalable backend services using clean, maintainable, and testable code.

Angel JimenezSoftware Engineer

Angel is a software engineer who is passionate about technology and innovation, with experience in automated testing and software development. Currently, he is focused on contributing his expertise to ensure the quality and efficiency of the system.

Andrea BotiaGrowth Analyst

Andrea is an expert in identifying growth opportunities and designing effective strategies through experimentation and data, with the goal of continuously improving the outcomes of each product while overseeing the entire cycle, from acquisition to user retention.

Ximena GarcíaAgile Coach

Ximena facilitates the comprehensive adoption of agile thinking and processes within the organization, applying knowledge and tools to adapt the agile model and ensure value generation in every support effort.

Manuela MejíaService – Experience Designer

Manu is passionate about working with and for people. They conduct user research to make decisions centered on user needs, designing more personalized experiences as a result.

David BarreroExperience Designer

Dave focuses on understanding the needs of clients and users, ensuring that their expectations are met in every interaction with available services and channels. His goal is to exceed these expectations by providing a memorable experience through continuous follow-up and constant adjustments, personalizing key moments to maximize customer satisfaction.

Sandra BernalEnterprise Architect

Sandra has participated in technology projects related to physical and digital channels, from development to IT architecture. She supports the customization team in defining and assessing the technical feasibility for integrations with channels and use of the Dynamic Yield tool.

Fabián BohorquezSolution Architect

Fabián’s involvement in the customization program focuses on designing and maintaining advanced solutions that optimize the user experience. He has over 10 years of experience in architecture and support of innovative implementations.

Julian MurielProcess Designer

As a process designer, Julian contributes to the customization program by facilitating the creation of workflows that support unique and effective customer experiences.

Laura SepulvedaSOA Analyst

Laura’s role focuses on designing technological solutions that facilitate the effective integration of services and applications, ensuring their alignment with the organization's strategic objectives.

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