EMEA BANKING
also ensure that they strike the right balance between relevance and the “creepy factor” of seeming to know too much about customers’ financial affairs. How, then, can banks balance the need for privacy while delivering the next generation of hyperpersonalised services? The 360° customer view There is so much data being generated by and about customers today that it can be nearly impossible to gain a complete view of them. And, because data is often generated and kept within business siloes, it takes a great deal of time to merge data into a singular customer view that is still relevant and offers actionable insights. By utilising an intelligent customer engagement platform that merges operational and marketing data, organisations can merge thousands of metrics into a singular, comprehensive view of enterprise customers on the individual level that is required for personalisation.
With this approach to teasing out customer DNA, banks will gain maximum visibility into customer behaviour, enabling them to deploy customer experience campaigns in a whole new way. O nl y w he n ba nk s ga in a hol i sti c v ie w of c ustome rs c a n they delive r the pe rsona lisa tion that the se c onsum e rs c rave : f or exampl e , by be ing a ble to prov ide hyper-re leva nt ma rke ting a nd products tha t inc re a se e nga ge me nt and con ve rsion ra te s, ba nk s are abl e to re duc e irre leva nt commu nic a tions, m ak ing c ustom e rs feel val ue d a nd unde rstood. The bank manager of old knew that time spent on face-to-face engagement with customers was never wasted, leading as it did to opportunities to sell new services, or simply to strengthen loyalty with high-value customers. Thanks to technology, we can recreate these relationships – and, indeed, make them stronger than ever before.
Doug Gross CEO NGDATA
1
Makortoff, Kalyeena. “UK Banks Urged to Justify 'Staggering' Level of Branch Closures.” The Guardian, Guardian News and Media, 16 Nov. 2018, www.theguardian.com/business/2018/ nov/16/uk-bank-urged-justify-staggering-level-branchclosures-which-survey.
2
Quarter of Millennials and GenZs Use Challenger Banks, www. fstech.co.uk/fst/Crealogix_Millennials_GenZ_Banking_Habits.php.
3
Dunkley, Emma. “Banks Face Losing Market Share to Digital Services.” Financial Times, Financial Times, 22 Sept. 2015, www.ft.com/content/e44a49b2-611e-11e5-9846de406ccb37f2.
4
“Wells Fargo Launching Personalized ATMs.” Bank Systems & Technology, 19 Feb. 2013, www.banktech.com/ channels/wells-fargo-launching-personalized-atms/d/did/1296164d41d.html.
5
“Personalization at Scale: First Steps in a Profitable Journey to Growth.” McKinsey & Company, www.mckinsey.com/ business-functions/marketing-and-sales/our-insights/ personalization-at-scale-first-steps.
6 https://www.dbs.com/investorday/presentations/Creating_ shareholder_value_from_digitalisation.pdf
7 “The Six Pillars.” KPMG, home.kpmg/xx/en/home/ insights/2018/06/tomorrows-experience-today-the-sixpillars.print.html.
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