Madison, AL – February 19, 2020 ─ Concluding their 2019 wrap-up, fintech company DeepTarget Inc. announced their year-end customer acquisition results and successful strategic initiatives. 2019 was demonstrably their best year yet with the addition of 42 new credit union and bank customer contracts, record sales bookings, and continued year-over-year annual recurring revenue growth. With built-in digital banking APIs and completed integrations in 14 banking platforms, DeepTarget expanded its engagement footprint by introducing the DeepTarget Gateway API to easily extend personalized experiences to digital spaces that are increasingly becoming important in the banking journey - like PFM, lending, payments, savings apps, kiosk apps, electronic statements, and even print spaces. DeepTarget continued to transform how credit unions and banks use core banking data and enhanced data analytics to power results in the form of deposits, loans, card acquisitions, onboarding actions taken, and loyalty initiatives presented. To better facilitate more pervasive digital engagement, DeepTarget introduced enterprise licensing and OEM platform licensing in 2019, successfully securing customers and partners using theDeepTarget platform in this way to power innovation and expansion. DeepTarget’s average contract value has increased 302% since 2017. Customer retention remains high at over 92%.
True to its adage Design Once, Engage Everywhere™, DeepTarget enables financial institutions to plan and design data-powered campaigns one time and use them to engage their accountholders in unique digital experiences across all digital app spaces. In December 2019, the DeepTarget platform served up 241 Million Impressions to 1.86 million digital banking customers resulting in over 13,600 new deposits, loans, and card acquisitions. DeepTarget has seen these monthly statistics increase month-over-month since January of 2016, an indicator of industry attentiveness to digital transformation. Investments in Customer Success paid off as 2019 usage of the DeepTarget platform increased by 174% along with an increase of 105% in real account openings when compared to December 2018.
In the Fall of 2019, DeepTarget released a redesigned user experience for the banking marketing professional where targeted and personalized experiences may be created and activated within digital banking journey spaces. This redesigned environment is more discoverable in nature and boasts many visual cues that aid the marketing professional in engagement tuning for optimized results. Indicators for reach, responsiveness, data freshness, campaign age, and engagement effectiveness are front-and-center in the new user experience. DeepTarget also completed beta testing of its machine learning initiatives to model predictive campaign design using accumulated intelligence associated with unique data-powered experiences. Technology investments included new patent-pending intelligence-focused communications to drive positive results and ROI for financial institutions; this will be available for customers to deploy later this year.
“I am extremely grateful for my team and our community of outstanding partners and customers for helping us continue to achieve milestones. Our differentiation is an open, enabling tech platform that automates thousands of unique “always-on” simultaneously occurring conversations while capturing high-quality leads and results data. The best thing is that the platform can be uniquely and specifically integrated within partner offerings to enable differentiation of the complete solution. In this way, we are able to emphasize overall value in the form of tangible results with distinctive partner integrations. While we see pretty amazing successes using basic core banking data, we also serve as a consumer of rich data analytics and a producer of contextual behavioral and results data that serve our partners well,” said Jill Homan, President, DeepTarget Inc. “We are excited like never before about 2020 – new innovations, expanded partnerships and ultimately greater success for our customers!”