INDUSTRY:
Financial services

Why personalization is key for businesses in the financial services industry

3 reasons why financial services companies need to get personal

01. Build credibility and convert more customers

Taking a personalized approach to the products and services you offer a given prospect demonstrates expertise and builds the credibility of your institution. This increases the number of prospects that convert into customers. Building credibility enables banks to become the source of trusted identity for the customers - a vital opportunity to be seized in the age of open banking.

02. Increase loyalty and trust, and, as a result, retention

Improve your customer service and become a trusted advisor to your customers by sending them relevant and timely information. Use analytics and behavioral data to determine a customer's financial needs and interact with them based on their preferences. The convenience and personability of a personalized experience will keep customers with you for longer.

03. Cross-sell more effectively

Transactional data is a treasure trove of insight to use for drawing attention to products, solutions, or advice directly related to the individual. Say a customer books a flight - now's the perfect time to send them information about your currency or travel insurance products. Personalization tools like Turtl can help you power agile, behavior-driven content delivery.

89%

of consumers are more likely to do business with online financial institutions that offer personalized experiences¹

$800 billion

in revenue will shift to the top 15% of companies who get personalization right in financial services, retail, and healthcare²

¹ Epsilon, ² BCG