New GFT thought leadership paper ‘Lifting the lid on hyperpersonalised banking’ provides an overview of the building blocks for the future of banking.
Definition and evolution
Hyperpersonalised banking is a customer-centric approach to providing personalised solutions to individuals at the most relevant time using data analytics.
Importance of hyperpersonalisation
At the heart of this paradigm shift is customer centricity, an approach to supporting customers so that they can make more informed decisions.
Financial well-being
By banks knowing their customers intricately (through their KYC process and 360 views), they can provide the best products and services for their individual customers and potentially nudge them into a much stronger financial position.
Fostering stronger ties with customers
Providing customers with the most relevant products and services at the most appropriate time, allowing them to make better and more informed decisions.
Customer loyalty
At a time when customers have no fear in moving from one bank to another, it is vital that banks do whatever they can to keep their customers loyal to their brand.
