From customised content to tailored ads and offers, there’s a clear calling for personalisation within the financial services sector. Accenture’s 2019 Global Financial Services Consumer Study found that one in two say they’d be happy to receive personalised financial advice from banks, like spending habit reports and advice on how to manage money. This type of guidance is likely to become even more valuable with the added pressures brought on by Covid-19. And it’s clear that financial service brands are catching on. An Econsultancy survey found that, when asked which three digital areas are top priority for their organisation, 37% of financial service respondents chose ‘targeting and personalisation’. But another study, by software company Pegasystems, concluded that 94% of banks haven’t quite figured out personalisation yet.
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