Our CEO, Rami Cassis, joined IBS Intelligence on its podcast to discuss how financial services firms can deliver genuinely personal customer communication that benefits customers.
Customers now expect financial institutions to understand their individual circumstances, not send generic messages. That expectation has been set by consumer technology rather than by the finance sector itself.
Firms that fail to personalise their communication risk losing customers to competitors that do. Switching provider has never been easier, so the cost of getting it wrong is felt immediately.
Rami argues the data needed to personalise already sits inside most institutions, but the challenge is activating it. Legacy systems and siloed teams are usually what stand in the way, not a shortage of information.
Technology is the enabler, but leadership must make the strategic decision to put the customer relationship first. Without that mandate from the top, personalisation projects tend to stall at the pilot stage.
