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Banking Transformed with Jim Marous
Building Deeper Relationships with Data-Driven Journeys
Oct 19, 2023
James White, general manager of banking at Total Expert, discusses how banks can leverage customer intelligence, personalize journeys, and transform relationships. Topics include building better engagement, driving results and building relationships through data-driven journeys, balancing internal and external data for customer privacy, and using data to build better engagement and solutions for customers.
40:28
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Quick takeaways
- Financial institutions can increase relevance, revenue, market share, and loyalty by aggregating data to build 360-degree customer views and balancing high-tech and high-touch interactions.
- By moving away from transactional approaches and embracing personalized interactions, banks and credit unions can manufacture loyalty and differentiate themselves, emphasizing the importance of engaging customers in meaningful conversations about financial wellness and broader life events.
Deep dives
Importance of Customer Intelligence and Personalized Journeys in Banking
In today's digital banking world, understanding customers and delivering personalized experiences are essential for growth. Banks and credit unions can leverage customer intelligence and personalized journeys to transform relationships and improve performance. By aggregating data to build 360-degree customer views, financial institutions can increase relevance, revenue, market share, and loyalty. The focus should be on balancing high-tech and high-touch interactions, where technology plays a crucial role in enhancing the customer experience. The challenge lies in fostering a culture that prioritizes customer interactions over transactional success.
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