SunTec Business Solutions: Contextual deals in the age of rapidly changing customer preferences – Are banks ready yet?
The customers today have transformed. They are well aware and knowledgeable, and expect their banks to provide them with personalised products and services to suit their needs.
To be able to do so, the banks need to predict their customers’ next move and be able to suggest optimal solutions for the same. The huge towers of accumulated big data in the banks’ data warehouses, are treasures which banks need to put into effective use. While customers are looking forward to a seamless omni-channel experience from their financial service providers, many banks are grappling with basic issues like siloed architectures and business processes. Banks are in a dire need of a robust strategy to prevent losing customers to competition.