It’s not a word that naturally springs to mind when you think of the banking sector, but empathy holds the key to improving customer engagement and service levels.
Did you know, women are twice as likely to ask for their bank to post more online content with educational advice, tips and advice than men? It’s hard to be empathetic if you’re treating all your customers generically or based on traditional, typical customer segmentation rules.
As demand for personalisation and the march of digitisation continues, banks must start thinking differently. Technology plays a key role here. Legacy limitations of banking architectures are no longer acceptable excuses for failure to adapt. In fact, new tech – cloud platforms and new data tools like Artificial Intelligence and Machine Learning are empowering CTOs and CIOs to balance the need for standardisation as well as enabling customer specific personsalisation, delivering in tandem, both the revenue and the cost agenda.
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