From the course: Digital Banking Fundamentals
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Enhanced personalization in digital banking
From the course: Digital Banking Fundamentals
Enhanced personalization in digital banking
- [Instructor] The future of digital banking is expected to see continued growth and evolution. In this module, we will discuss some of the potential trends and developments in digital banking, such as customer service, artificial intelligence, and digital currencies. Enhanced personalization uses advanced technology and data analytics to provide and customize customer services. Digital banks integrate third party data sources for external sources like social media, location data, and online shopping habits to provide personalized services. An example will be a digital bank using a customer's geolocation data to offer location-specific offers or discounts. By enhancing personalization, digital banks can drive revenue growth and profitability by cross-selling and upselling products and services that customers are more likely to buy or use.
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