Nov 11, 2016
Banks and financial institutions find themselves competing for customers more today than ever before. With a myriad of options available to consumers for everything from standard banking services to investment management and sophisticated financial planning, every financial services provider must be mindful of the competition – and that means having a deep understanding of what attracts customers, what makes them stick, and what keeps them happy.
Thanks to the vast abilities created by digital media and data technology, there is no shortage of opportunities to glean more data about a bank’s customer base. It’s not enough to simply gather raw data, however. Banks need to understand the connection between different data points, be able to generate baselines and pinpoint trends and patterns to be proactive in their response, and generally know what actions will result in desired outcomes before it’s too late.
In other words, valuable customer insights are the name of the game for modern financial institutions. But how can banks best gather information about their customers and translate data into meaningful, actionable insights? To dig a little deeper into the current trends and best practices in customer analytics and insights among financial institutions, we asked a panel of customer data experts and business leaders to answer this question:
“What’s the single best method a bank or other financial institution can gather useful customer insights?”
Find out what our experts have to say about the best tactics for modern banking and financial institutions to gain valuable insights on their customers by reading their responses below.