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Attacking legacy strategy, design and process roadblocks can create a foundation for stronger customer connections and increased wallet share.
In brief:
- Delivering data-driven personalized value propositions that can anticipate and meet customer needs, seamlessly and across channels, has become critical to growth for retail banks.
- Incumbent banks have the trust and data to pursue personalization but are often hindered by product-centric business models, poor organizational support and process inefficiencies.
- Banks that prioritize customer-centric strategies, organizational designs and execution can use personalization to drive customer loyalty and grow wallet share.
