So, there I was, scrolling through Instagram for what felt like the hundredth time that day. Just the usual—watching the same five recipes I’ll probably never try, but I swear I will someday. I wasn’t even thinking about shopping when Boom! An ad pops up: “50% off premium cookware sets.”
It’s funny how we all have those moments. Those “coincidences” where your phone seems to know you better than you know yourself. Whether it’s Instagram targeting your inner chef or your bank nudging you with a credit card offer right as you plan a weekend trip, it’s like they’ve got you figured out.
My dad would say it’s Big Brother watching. I’d say it’s just real-time event processing in action. So yeah,…same thing. Ok, just kidding. -Ish.
Of course, if you’re in finance, you’re no stranger to this. EVAM, for example, takes this to the next level. They’re not just pushing ads or offers—they’re helping companies take action on customer behavior in the moment it happens. That’s the kind of tech that keeps customers engaged and businesses ahead of the curve.
At this year’s UNCHAIN, we had the pleasure of talking with Valentin Costa, Sales Manager at EVAM. He shed some light on how EVAM is taking over the customer engagement space in banking and telecoms with real-time event processing.
Laser-Focused on Customer Engagement
We’ve been in the market for about eight years. And I think we’ve managed to find the niche where, you know, you could find some similar products doing similar things, but they are part of a bigger solution. So, the focus on developing those products was in another direction. We focused on this direction of customer engagement.
Valentin Costa
And that laser focus? It’s paying off. While other companies are spread thin and trying to be everything to everyone, EVAM sticks to what they do best: getting banks and telcos to communicate better with customers in real time.
Valentin is confident about why they’re the first choice:
We are really, really, you know, laser-focused on developing a customer engagement tool for banks and telcos. So that will be our, let’s say, a key differentiator.
Valentin Costa
The Pandemic Gave Banks a Much-Needed Kick
Let’s not pretend banks have always been on top of their game when it comes to digital communication.
Banks have been a little late to the table, haven’t they, when it comes to communications? Pandemic helped.
Valentin Costa
The pandemic gave them a shove in the right direction, and now there’s no going back. Banks quickly learned that they needed to reach customers without them setting foot in a branch. Valentin said it best:
You need to invest in the customer experience because it’s the only element that will make the difference between whether a customer decides to stay with the bank or go to another bank.
Valentin Costa
When competitors are breathing down your neck, real-time engagement isn’t just a trend anymore—it’s survival.
Don’t Spam. Be Relevant.
We’ve all been on the receiving end of spammy messages and irrelevant offers, and we know how fast that sends us running. That’s why EVAM’s approach is focused on relevance, always.
We enhance the experience and we base the communication with the client on relevance. We don’t spam the customer with things that are useless or irrelevant.
Valentin Costa
They’ve got data models working on an individual level to figure out what the customer needs, when they need it, and which channel works best to send that offer. Simple, right? But here’s the genius part:
By automating these tasks, you know, we have a higher chance of adopting that product or service.
Valentin Costa
When customers feel like the offer is meant for them, they’re more likely to engage. And more engagement? That’s loyalty right there.
Easy to Implement, Even Easier to Scale
When all is said and done, the real question banks care about is, “How easy is this to actually use?” Well, according to Valentin, EVAM’s got that covered, too.
Our typical implementation time is around three months, even for a large bank.
Valentin Costa
They’ve hooked up banks with over 50 data sources in a matter of months, which is no small feat. And when it comes to scaling, it doesn’t matter if you’ve got a million customers or 10 million.
It depends. I mean, there are banks that, even if they are small, have a wide variety of systems… And some big banks have decided to, you know, go through a digital transformation about three or four years ago where everything is more streamlined.
Valentin Costa
Basically, whether your tech stack is a mess or already modernized, EVAM can get you connected and running.
The Circle of Engagement (and Money)
Valentin described EVAM’s approach to customer engagement as a circle. You start by improving the customer experience, and then the customer will consume more products. The more they consume, the more loyal they are. And the more loyal they are, the less likely they are to jump ship for another bank.
If the communication is based on relevance, then you have a customer who’s happy about the experience, and then he consumes more products from the bank.
Valentin Costa
More consumption equals lower churn risk. It’s a loop that keeps on giving for both banks and their customers. And now, with the Romanian market in the bag, EVAM has its sights set on bigger things.
Our primary focus now is Central Eastern Europe. We managed to secure Romania’s biggest bank.
Valentin Costa
They’re also eyeing major banks in Poland and the Czech Republic next. Looking further down the line, EVAM has its sights set on bigger things.
Somewhere next year, we will start approaching banks in Western Europe, where the references that we’ve managed to get in Central Eastern Europe would be more useful.
Valentin Costa
They’re ready to take on the Western markets, and with their track record, it looks like they’ve got a solid shot.
