Over the past 24 months, competition in the banking sector has intensified. With major banks investing heavily in data analytics and AI, and tech brands emerging from all directions, customer acquisition costs are on the rise. But there’s a massive opportunity within existing customer bases. By leveraging first-party data—true customer insights, not just personality profiles—banks can discover untapped potential, like single-service customers or non-primary relationships.
It’s about understanding customer behavior and using that knowledge to engage them at the right time, whether through digital channels or personalized, relationship-driven outreach. Community and regional banks can deepen relationships and build more profitable connections by harnessing this data-driven approach.
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