CASHING IN customer behaviour , assess risks and deliver personalised services . However , ensuring the quality and integration of this data presents a significant challenge . According to Provenir ’ s 2024 Global Risk Decisioning Survey , which draws on insights from 300 financial services decision-makers , 38 % of respondents identified data quality and integration issues as primary obstacles hindering the delivery of personalised offers .
High-quality data enables financial institutions to enhance risk management practices , improve regulatory compliance and drive operational efficiencies . By leveraging advanced analytics and AIdriven technologies , organisations can extract actionable insights from their data , empowering them to make informed decisions in real time . In order to do this , banks must invest in data management , governance , and analytics capabilities to deliver hyper-personalisation to meet the changing needs of their customers .
Whether banks now choose to partner with FinTechs to speed up their journey to hyper-personalisation or compete against them , there is one certainty : they need to act now to meet the raised demands of their customers and prospects .
If they don ’ t , they will soon be left behind . � www . intelligentfin . tech
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