Banks have traditionally had access to volumes of customer data enriched with purchase history, transaction patterns, usage of credit or debit cards, and more for retail customers. Similarly, for corporate customers, banks have information on high-value transactions, borrowing and lending patterns, currency exchange data, pledging of assets, and more.
Unfortunately, it is only in the recent past that traditional banks have woken up to address the threat posed by digital-only banks and focused on using personalization as a differentiator to stand apart from their competitors. Banks must have a strong technology base to analyze customer behavior, use data intelligently, and create unique products/services tailored to the specific needs of their customers.
Download this use cases document on personalization in banking to learn how you can:
- Improve customer loyalty by hyper-personalizing pricing, offers, deals, and rewards at scale
- Gain real-time visibility into customer data to create personalized, contextual offers
- Empower customers to modify offers and bundles based on their specific preferences
- Accelerate adoption by offering the right products and services to the right customer at the right time
- Enhance customer trust with full transparency around pricing and billing
- Improve your share of the customer’s wallet with personalized loyalty benefits
- Minimize revenue leakage with data-driven insights on deal profitability