The banking and financial services industry is currently grappling with a myriad of significant challenges, particularly in adapting to the rapid digital transformation of customer relationships. As interactions with customers are increasingly digitized and open banking is becoming a reality across the financial services ecosystem, customers are now more informed, demanding, and less loyal than ever before. They expect tailored experiences and individualized treatment across all touch points, fueled by the disclosure of personal information across Apps and channels.

This white paper underscores the significance of holistic customer management and customer analytics in optimizing customer interactions throughout the customer life cycle. It addresses the current challenges faced by the banking and financial services sector in customer management and demonstrates how leveraging existing data can transform regulatory and business changes into opportunities. The paper highlights the value of empowering customers with data control and leveraging customer relationship data.