TIBCO Software has announced the acquisition of Loyalty Lab - a company specialising in cross-sell and up-sell solutions, which for TIBCO customers (such as in telco, retail and banking) has often meant applying CEP to analyze customer needs in real-time, often with a dose of data analytics, and responding accordingly and quickly. The Loyalty Lab founders commented:

Loyalty is no longer a nice to have—in today’s mobile and social media-centric world, you gotta have it. When we started the business, sometimes we had to spend hours with prospects explaining what loyalty was and how brands might be advantaged by having automated systems programmatically up and cross-selling their new, better, next-best and evangelistic customers regularly. We intuitively knew but now emphatically know that it’s just 15% of a brand’s customers that almost always represent 85% of their profits.

The Banker runs annual technology awards, and this year the Citibank CEP application supporting real-time marketing is one of the winners. The article quotes:

“The system deploys complex event processing technology to evaluate static and dynamic events against a customer profile and ‘propensity model’, to determine in real time the next best offer the bank can extend to the customer.”

“Because the system operates on a ‘rules basis’, it can be adapted by business users to design the rules that govern a particular campaign without the involvement of IT staff. “

“The bank is also using the intelligence in the system for fraud prevention and proactive customer service.”