Yes, there are risks to working with people with thin (or no) credit histories. Enter alternative data.
The use of customer information with digital technology can help financial institutions achieve true segment-of-one marketing.
2015 will be the year that banks finally merge the concepts of big data and improving the customer experience.
Banks can build brand equity if they link brand attributes to customer needs.
Making use of customer transactional data won’t help bank marketers much until they can convince those customers that the use of this data benefits them.
Even simple segmentation approaches can yield substantial results if implemented with disciplined execution.
Engaging with digitally-savvy mass affluent customers requires that banks lead with digital tools, say BAI Retail Delivery 2014 panelists.
Marketing to the emerging affluent customer segment requires a holistic digital banking experience that captures relevant personal financial data.