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Hyper-Personalisation: Key to the Future of Digital Banking

Hyper-Personalisation: Key to the Future of Digital Banking

Here’s why financial institutions should capitalise on hyper-personalisation to elevate the customer experience and build customer loyalty.

As today’s digital-first, ecosystem-driven businesses shoulder their way into the financial services sector, they bring with them a history of revolutionising customer experiences through personalisation. That makes it imperative for traditional financial services companies to up their game. As they go head-to-head with today’s digital-first, ecosystem-driven businesses, their success to a large extent will be determined by how well they understand each customer’s unique needs and are able to deliver hyper-personalised solutions, services, and content.

Customer expectations have changed

Today’s customers want experiences and recommendations that are tailored to their needs. They expect personalised services that are seamless across multiple channels. They want to be treated with empathy and to have their queries resolved as quickly as possible.

Financial services companies are finding innovative ways to meet these expectations. Some are using behavioural analytics and advanced machine learning to capture deep insights on the customer. These companies know their customers’ next move, can guide customers to where they want to go, and recommend the most relevant products, content, and categories.

Other companies are building a 360-degree view of the customer across sales, service, and marketing teams. This makes it easier for them to visualise important events and milestones in their customer’s life and drive more meaningful, personalised conversations. When employees have a single, shared view of the customer, they will also be able to deliver consistent interactions and seamless service across departments.

Working smarter

Digital tools offer exciting opportunities for financial services companies to not only personalise customer engagements, but also improve productivity. Workflow automation frees up employees to focus completely on the customer and their needs, rather than searching for information or performing mundane tasks. Meanwhile, artificial intelligence can provide predictive guidance and recommended actions to strengthen customer engagement. It can also enable teams to quickly search knowledge repositories for the most relevant information to personalise service.

Find out more

Hyper-personalisation is an opportunity to build enriching and rewarding relationships with customers. It also represents a strong competitive advantage in an increasingly crowded landscape.

Find out more in our latest e-book, Hyper-personalisation: Key to the Future of Digital Banking in ASEAN.

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