Personalization in Banking – Thematic Research

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Personalization in Banking Report Overview

Brands like Uber Eats use highly personalized interactions to show that they know their customers and care about their choices and preferences. Banks are under pressure to do the same. However, if they fail to offer customized services, consumers perceive all banks as the same and they risk getting pushed down the value chain. Customized financial products show that the bank is customer-centric. In an open finance environment, personalization can be used to serve and sell in a variety of ways.

The Personalization in Banking thematic intelligence report identifies priority application areas for personalized banking and the vendors and banks delivering these experiences to end users. It provides an overview of the current landscape as well as the key trends shaping the industry. The report also includes key players, and the value chain layers within the banking industry.

Report Pages 37
Regions Covered Global
Key Trends Technology, Macroeconomic, and Regulatory
Value Chains Product manufacture, Data management and Distribution
Leading Financial Service Providers in Personalized Banking Ally Bank, American Express, ANZ, and CBA among others
Leading Technology Providers in Personalized Banking Alphabet, Apple, Amazon and Earnix

Personalization in Banking - Key Trends

The main trends shaping personalization in banking industry are classified into technology, regulatory, and macroeconomic trends.

  • Technology trends – The key technology trends impacting the personalization in banking theme include the usage of machine learning algorithms, legacy renewal and data consolidation, and personalization standards.
  • Macroeconomic trends – The macroeconomic trends impacting the theme include the impact of the COVID-19 pandemic, maintaining financial well-being, and declining fee income revenue, among others.
  • Regulatory trends – The key regulatory trends impacting the theme are open banking, data privacy, enhanced consent management, data storage, consent management, tracking tools such as web cookies, financial inclusion, and broader ESG considerations.

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Personalization in Banking - Value Chain Analysis

GlobalData’s value chain within banking and investments includes product manufacture, data management, and distribution.

Product Manufacture: Product development is a key part of the personalization process. Techniques like customer personas, journey maps, and design thinking help bring customers’ customized financial products. Poor segmentation, whether in products or processes, creates many second-round costs and are also hard to sell.

Financial Services Value Chain

Financial Services Value Chain

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Leading Financial Service Providers

A few of the leading listed players associated with the personalization in banking theme are:

  • Ally Bank
  • American Express
  • ANZ
  • CBA

Leading Technology Providers

A few of the leading technology providers making their mark within the personalization in banking theme are:

  • Alphabet
  • Apple
  • Amazon
  • Earnix

Personalization in Banking Theme Analysis by Companies

Personalization in Banking Theme Analysis by Companies

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Retail Banking Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.

  • The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
  • The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
  • The risk screen ranks companies within a particular sector based on overall investment risk.

Retail Banking Sector Scorecard – Thematic Screen

Retail Banking Sector Scorecard – Thematic Screen

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Reasons to Buy

  • Understand key technology, macroeconomic, and regulatory trends impacting Personalization in Banking.
  • Identity priority application areas for Personalization in Banking as well as the vendors and banks delivering these experiences to end users
  • Access firm-level/case-study insight on the leading private and public players within the Personalization theme in Banking.

Amazon
Google
Facebook
Apple
Alphabet
Tinkoff Bank
AIB
Capital One
WE Bank
MyBank
Monzo
NatWest/RBS
Danske Bank
DBS
TSB
BBVA
Citibank
mBank
Revolut
Credit Agricole
Barclays
CreditLadder
NovaCredit
Experian
Equifax
TransUnion
Tink
Bud
Plaid
TrueLayer
Cornami
Decentriq
Immuta
Inpher
Statice

Table of Contents

Executive Summary

Players

Thematic Briefing

Trends

Technology trends

Macroeconomic trends

Regulatory trends

Industry Analysis

Mergers and acquisitions

Timeline

Value Chain

Product manufacture and development

Data management

Distribution

Companies

Financial service providers

Technology providers

Sector Scorecard

Retail banking sector scorecard

Further Reading

Our Thematic Research Methodology

About GlobalData

Contact Us

Frequently asked questions

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