The Financial Brand Insights - Fall 2022

Use the Power of Data to Dig Deeper with Banking Customers

By Jim Stapleton Senior Vice President, Client Partner at Epsilon

Do you ever feel like you are pushing products to customers just to meet unit goals? All bankers start out with a sincere desire to help consumers positively progress along their financial lives, but as financial institutions have moved further into the digital space, those connection points become more challenging. But, with financial literacy remaining a huge issue in the U.S., consumers need support from their bank or credit union more than ever. Financial institutions can still connect with customers at pivotal times in their financial lives. Doing so requires three things: 1. Knowing customers holistically to better understand their needs. 2. Anticipating customer needs earlier. 3. Developing “always on” campaigns focused on sensing and responding to the emerging needs of consumers. Let’s dive a bit into each one of these core competencies. Consumers' financial needs are greater than ever and continually evolving. Meeting those needs requires a complete view of the customer — based on both internal and external data. It also requires the ability to use the data to anticipate customer needs and act on them promptly. Here's how to accomplish that.

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THE FINANCIAL BRAND INSIGHTS FALL 2022

THE FINANCIAL BRAND INSIGHTS FALL 2022

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