Search
Close this search box.
Search
Close this search box.

AI’s Value Prop: A Cheaper Path To Customer Primacy

The various product lines at banks are in constant competition for customer attention. But uncoordinated messaging comes with a high cost: Curinos analysis shows that the typical FI leaves $70 per customer on the table because relationship nurturing is poorly orchestrated across channels.  

Each individual has communication preferences – a favored channel, the optimal number of reminders and a point at which repeated messages start to annoy them. A bank marketer can’t possibly code all of the rules needed to cover all of these preferences, so there’s a temptation to bombard the customer with ever more messaging, which drives up acquisition costs (see chart). 

AI-fueled personalization can improve on a rules-based approach because it can reveal how to capture mindshare and plot the path to primacy for each customer. This is especially important in today’s world, where the cost per value acquired is trending in the opposite direction of response rates. 

Response Curve vs. CPVA​

Bombardment from product silos decreases
response rates, increases CPVA.​

Source: Curinos Analysis 2023​

Latest Insights

According To The Data, Insights

The Fintech Winter Has Given Way to Emergent Growth

The year 2023 may be considered the fintech winter, when the list of fai...

According To The Data, Insights

Fed’s First Big Cut Means (Surprise!) a Big Gain for CDs

The Fed’s 50 bp salvo in September has marked the official start of the ...

Insights, Mortgage Hot Topics

Mortgage Hot Topics by Curinos

According to Curinos' new proprietary application index, refinances decr...

Want to go further?

Contact us to learn more about how Curinos can help you navigate today and prepare for tomorrow.

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Let's start a conversation...

Maximize your small business
lending performance.