Financial institutions are tapping customer data to make pitches, aiming to make them useful and effective without being creepy. Some banks are mining their customer data to target messages narrowly based on what they think people will be interested in.
Christina Rexrode and Emily Glazer
April 24, 2017
Banks know more about their customers than ever, and increasingly are trying to get more use out of that information.
The results can be convenient, or just creepy.
Banks can look at customers’ debit-card and credit-card transactions, online-bill payments and account activity to see what they’re buying, who they’re working for and other information. Now, from the largest Wall Street behemoths to small community lenders, the banks are looking to use that data in new ways, investing in more-advanced technology to better target prospective customers and sell more services to existing ones.
Read the full article here.