Some larger banking institutions are struggling to get their data in order as competitive pressure mounts to evolve past batch-and-blast communications and into the realm of personalized marketing communications (see chart).
That’s according to the Curinos Personalization Survey, which earlier this year elicited insights from leaders, operators and data and analytics marketers at U.S.-based retail FIs.
But progress is ongoing: many banks are pulling transaction and behavioral data from core and back-end data warehouses, many for the first time, then recalibrating it so it’s actionable. Most now see this process as critical as they race to upgrade their personalized communications to deepen customer relations, and the larger players are working with a vibrant vendor community to get their data in order.
Those that use Amplero have the advantage of working with our team of data scientists to get up to speed quickly with data on customers, channels and creative context. Our approach enables marketers to begin optimizing treatments for personalization quickly while, over time, consistently adding and automatically reacting to the data.
How Banks Characterize Their Data's Overall State For Marketing Efforts
