Event-Based KLIs

Event-based KLIs are a bit more complicated than activity-based KLIs but are every bit as valuable. These Key Lifestyle Indicators represent life transitions rather than just activities and interests. As such, they cannot be assigned from one-time account based transactions alone but rather require multiple transactions.

To better explain how event-based KLIs work, let’s assume that “Joe” is a customer of a bank that uses Segmint software. Segmint’s software tracks that Joe goes to a big-box home improvement store once or twice a month. Suddenly, Joe starts visiting the home improvement store twice a week and also makes a $1,900 purchase at an appliance store and a $3,200 purchase at a cabinet store. The Segmint system will determine that it is probable that Joe is starting a home remodeling project and will tag him with the “Home Improver” KLI. Thanks to our software, Joe’s bank can now offer products to him like a home equity loan that can assist him with his project. Event-based KLIs make it possible for banks to make appropriate and convenient offers to their customers during these life transitions.