Predict, personalize, and wow your customers with better analytics and AI
Zac Maufe
Global Head of Regulated Industries, Google Cloud
What will financial services look like in the future? Historically, financial services have been driven by one-on-one relationship-based interactions.
Now, customers expect these trusted relationships to translate into personalized, digital experiences that prove their providers know and value them, and have the capabilities to help them.
It’s no secret that customer engagement leads to revenue growth. That’s why customer data platforms (CDPs) have gained traction across multiple industries to help businesses analyze, predict, and personalize customer journeys.
However, a CDP by itself may not be sufficient to gain a holistic view of the customer. Financial services institutions already capture a myriad of customer and marketing data and use many tools to engage their customers. But companies still struggle to unify and analyze all that data across silos and create a holistic view of their customers that’s actionable across different channels and capabilities.
Financial services companies will need to think strategically about maximizing their use of first-party data and analytics to drive better and sustainable business outcomes.
With a true 360 view of the customer, financial services institutions can seamlessly combine all the right data and gain meaningful insights to deliver the type of personalization that really matters to customers.
Google Cloud is here to help
Customer expectations are changing rapidly, and financial services leaders need to be as innovative and efficient as possible. By combining customer servicing and transactional data with marketing, channel, CRM, and other first-party data within a secure cloud-based environment, equipped with intelligent, ML-driven customer insights, financial services companies can uncover deeper customer insights and activate them quickly.
To learn more or explore how Google Cloud fits into your customer data technology strategy, please contact us or visit our website.
Footnotes
1. “The value of getting personalization right—or wrong—is multiplying,” McKinsey & Company, November 12, 2021
2. “Survey shows customers give banks lackluster grades on their personalization,” Insider Intelligence, April 11, 2022
3. “The Future of Insurance: Personalized, Digitized and Connected,” Capco Insurance, September 21, 2021
4.Press Release: “72% of Consumers Would Share Personal Data to Get Cheaper Insurance Premiums,” Capco, July 22, 2021
5. “The value of getting personalization right—or wrong—is multiplying,” McKinsey & Company, November 12, 2021
6. “2030 Today, 2021,” Segment.com, 2021
7. “Getting Personal: Consumer Perspectives on AI in Marketing and Customer Service,” CDP.com, April 2022
8. Gartner®, Gartner’s Customer Data Survey: The 360-Degree View of the Customer Is More Myth Than Reality, Benjamin Bloom, Lizzy Foo Kune, Mike McGuire, 30 November 2021
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
9. “Closing the data value gap,” Accenture, December 2021
10. “Reshaping retail banking for the next normal,” McKinsey & Company, 2020
11. “Bring Customers Into Clear Focus,” Gallup, January 6, 2021
12. “Responsible Marketing With First-Party Data,” BCG, May 18, 2020
