Imagine for a moment the difference between buying a standard suit and commissioning one from an expert tailor. The first "more or less" fits you. The second, however, seems like an extension of yourself. It's made to your measurements, your style, and the exact occasion for which you need it.
For years, banking has sold standard suits. Using your name in an email is the equivalent of knowing your size, but not much more. The true transformation, the one that is redefining the game, is to stop being a seller of financial products and become that expert tailor.
This change in mindset is called financial hyper-personalization. It's not about selling to the masses, but about guiding each individual with an anticipatory banking that feels as personal and timely as the advice of a true expert.
This leap is possible thanks to real-time personalization in banking, which leaves behind static groups to focus on single-person microsegments. It is the essence of one-to-one marketing in finance: a unique conversation with each client.
For a tailor to create a masterpiece, they need a well-organized workshop, top-quality materials, and precision tools. In banking, that workshop is built on four technological and cultural pillars.
The fuel for this revolution is data. But without control, data is just noise. Solid governance ensures customer data quality, making sure the information is accurate and secure. The goal isn’t to accumulate data, but to obtain actionable data insights: information that allows us to take the next best action for the customer.
Here you will learn how to build a really data governance
Traditional and monolithic architectures are like an old workshop: rigid and inefficient. A flexible data architecture is essential to manage large volumes of information and allow for integrating emerging technologies without friction. A scalable foundation is needed so that it can grow and adapt at the pace of the business.
How do we achieve a consistent omnichannel customer experience? By integrating all of a customer's information, which is currently scattered across multiple systems, into a single view. This is the single customer view (or 360 profile), the indispensable master pattern for true personalization. Without it, each channel (the app, the web, the branch) tells a different story.
This is where the magic happens. AI is the precision tool that allows us to apply machine learning for predictive banking algorithms. These models anticipate customer needs. Furthermore, Generative AI in customer service drives operational efficiency with AI, automating tasks so that human talent can focus on high-value strategy.
Open Finance expands our workshop, allowing us (with customer consent) to access data from other sources such as insurance or investments. The Open Finance and AI synergy enriches the customer profile in an unprecedented way.
This enables proactive financial wellness tools, such as a Personal Financial Management (PFM) with AI that not only shows spending charts, but can also alert about duplicate subscriptions or simulate the impact of a loan before taking it. Even in insurance, it allows for data-driven insurance models where a policy adjusts if a customer starts driving less, creating a mutual benefit.
Investing in this capability is a strategy with a measurable return. A great personalized customer experience (CX) is the engine of customer loyalty and retention.
A customer who feels understood doesn't need to be retained; they choose to stay. This directly translates into:
The path demands a clear vision for overcoming data fragmentation and leading a profound cultural change. Standing still is not an option. The institutions that will lead tomorrow will be those that use technology to be more human and approachable.
The final question is not whether you should start, but how you are going to take the first step. Are you ready to start the right conversation with your customers?