Macquarie University
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Intelligent vector based customer segmentation in the banking industry

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posted on 2022-08-22, 02:53 authored by Salman MousaeiradSalman Mousaeirad

Intelligent vector based customer segmentation in the banking industry Customer Segmentation is the process of dividing customers into groups based on common characteristics. An intelligent Customer Segmentation will not only enable an organization to effectively allocate marketing resources (e.g., Recommender Systems in the Banking sector) but also it will enable identifying the customer cohorts that are most likely to benefit from a specific policy (e.g., to discover diverse patient groups in the Health sector). While there has been a significant improvement in approaches to Customer Segmentation, the main challenge remains to be the understanding of the reasons behind the segmentation need. This task is challenging as it is subjective and depends on the goal of segmentation as well as the analyst’s perspective. To address this challenge, in this dissertation, we present an intelligent vector-based customer segmentation approach. The proposed approach will leverage feature engineering to enable analysts to identify important features (from a pool of features such as demographics, geography, psychographics, behavioral, and more) and feed them into a neural embedding framework named Customer2Vec. The Customer2Vec combines the neural network classification and clustering methods as supervised and unsupervised learning techniques to embed the customer vector. We adopt a typical scenario in the Banking Sector to highlight how Customer2Vec significantly improves the quality of the segmentation and detecting customer similarities.


Table of Contents

1. Introduction -- 2. Background and State-of-the-Art -- 3. Methodology -- 4. Experiment, Results, and Evaluation -- 5. Conclusion -- References


A thesis submitted to Macquarie University for the degree of Master of Research

Awarding Institution

Macquarie University

Degree Type

Thesis MRes


Thesis (MRes), Macquarie University, Faculty of Science and Engineering, Department of Computing, 2021

Department, Centre or School

Department of Computing

Year of Award


Principal Supervisor

Amin Beheshti


Copyright: The Author Copyright disclaimer:




67 pages