“As consumer adoption of mobile devices and social media increases, banks can’t really rely on standard details such as income, age and geography to serve customers better than their competitors, according to a new report by payments company TSYS and software firm FICO. Instead, they may need to recognise the different kinds of customers based on how they interact with digital technology and tailor their services accordingly.
The report, Engaging Customers: Why Should Financial Institutions Move Toward a ‘Bring Your Own Persona’ Approach, notes that more than two billion people are using social media worldwide. Digital consumers are more demanding and expect more customised services, so banks that can best meet that expectation will stand to gain more satisfied and loyal customers.”
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