The Midas Touch for 2023: Personalization

Personalization is the Midas touch for banking in 2023. It's the golden ticket, the cherry on top, the icing on the cake, and it's what separates the good banks from the great banks. People want to feel like they matter, and personalization is the way to make that happen.

Let’s talk about the banking industry and how it needs to up its game in the personalization department. It's what separates the good financial institutions from the great ones. People want to feel like they matter, and personalization is the way to make that happen.

You may be skeptical about how many of your clients really rate personalization so highly. Understandable. But, Salesforce actually found out that 84% of customers say they’re more likely to do business with brands that treat them like a person, not a number. So, it’s pretty safe to say that it is very important to an overwhelming majority of your clients.

Imagine walking into your local bank and having your favorite latte waiting for you at the front desk, or having your loan approved in seconds because the financial institution already knows your financial history. That's the power of personalization.

Now, I get it, you’d love to provide the best levels of personalization within your branches, but it’s not that simple, right? The banking industry has some obstacles to overcome when it comes to improving personalization for its clients.

For starters, there's the challenge of collecting and utilizing client data in a secure and compliant manner. Banks and credit unions have a ton of sensitive information about their clients, and they need to make sure it's protected.

Of course, ever-changing regulations can hinder your personalization efforts and provide unwanted headaches for you and your executive team.

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