How Addiko Bank sells more loans with personalised mailings
Case study: each customer’s personal financial scenario instead of a generic loan newsletter - and the measured difference.
How does a bank sell a loan to a customer who never asked for one? The classic loan newsletter stays generic: “check our offer”, “try the calculator”. Customers don’t see themselves in it, so they don’t act. With Addiko Bank, we replaced the generic newsletter with each customer’s personal financial scenario - and measured the difference.
The challenge: the bank doesn’t have the product the customer wants - only the way to get it
A loan is not the goal; it is the means. Because a bank can’t advertise the product the customer actually wants (they buy that elsewhere), loan communication tends to stay repetitive and impersonal. The project question: can the data the bank already holds turn a generic message into an offer the customer recognises as their own?
The solution: the email itself is the offer
Instead of an invitation to a calculator, the customer sees their personal scenario in the email, calculated using data from their existing loan: their current monthly instalment, how much extra cash they could receive, what extending the repayment period would mean, and how much they could get at a higher instalment.
We tested three scenarios, each with its own offer logic:
- “How would you spend €2,000?” - extra cash without a higher instalment
- “Extra cash within reach” - extending repayment by 12 months
- “New opportunities are closer than you think” - additional funds at an instalment €50 higher
Personalisation went beyond the first name: the variables were the customer’s current monthly instalment and outstanding loan; the constants were €2,000 in additional funds and a fixed interest rate. The email didn’t invite exploration - it was itself the first indicative offer.
The partnership model: Growth as a Service
The campaigns run in SAP Engagement Cloud and are managed by FrodX under the Growth as a Service model: we plan, run and optimise the bank’s processes and campaigns, and part of our fee is tied to the results. The bank and the partner optimise for the same number - loans sold, not emails sent.
The results: less passive reading, more concrete action
Compared with the regular loan newsletters (January-May 2026; the personalised mailings ran March-May 2026):
| Metric | Regular newsletters | Personalised mailings |
|---|---|---|
| Sent | 184,269 | 35,868 |
| Open rate | 13.97% | 11.73% |
| Click rate | 0.80% | 1.29% |
| CTOR (clicks to opens) | 5.69% | 10.96% |
| Requests for personal consultation | 0 | 270 |
The personalised mailings had a lower open rate, but the quality of those opens was far higher: the click-to-open ratio (CTOR) nearly doubled. The key difference: a regular newsletter informs; a personal scenario activates.
From interest to sales: within a 12-day attribution window, the 270 consultation requests converted into 79 signed loans. Conversion by scenario: 22.6% (extra cash), 31.6% (extended repayment), 37.6% (higher instalment) - the scenario that showed the customer the greatest purchasing power converted best.
“A loan offer becomes interesting to customers only when they see it in their own numbers. Our goal was for customers to experience the same personal approach in marketing that they get in a conversation with a bank adviser - by email, by SMS or in a branch, they must always feel the message is for them and their situation. The personalised mailings confirmed that goal with numbers. An important part of the story is also the partnership model: FrodX manages the campaigns and ties part of its fee to the results, which means it optimises the same number we do.”
Timir Povše, Director of Retail Banking, Addiko Bank
The key takeaway
Data generated by the relationship between a customer and their bank is the strongest sales trigger the bank already owns - and mostly leaves unused. Personalised calculations turned a generic loan newsletter into a relevant sales scenario: the result wasn’t just higher engagement, but measurable growth in loan sales. The same approach transfers to retention and cross-sell programmes in banking, insurance and leasing - wherever a company already holds data the customer recognises as their own.
Planning something similar? Read the guide: implementing CRM and marketing automation - where to start or let’s talk.