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Editorial Rating

7

Qualities

  • Analytical
  • Eye Opening
  • Overview

Recommendation

Customers want their banking transactions to resemble their experiences on Amazon, explains this illuminating Boston Consulting Group article. The growing wave of personalized consumer experiences means that banks can no longer gain the same benefits from segmented product offers and other conventional practices. Learn how to chart your firm’s course toward personalization and what tools to pack for the journey. 

Take-Aways

  • For the banking industry, segmented marketing campaigns and product offers no longer represent a strong competitive strategy. 
  • Tech and retail have introduced consumers to a level of personalization that they now seek in banking.
  • Personalization involves understanding the individual customer and crafting a set of digital and in-person experiences accordingly.

About the Authors

Sonia Brodski, Laurent Desmangles, Stefano Fanfarillo, Shervin KhodabandehSilvio Palumbo and Maximiliano Santinelli are professionals with the Boston Consulting Group.