Why Doesn’t My Bank Know Me? How to Develop a Personalization Approach
According to J.D. Power’s 2022 U.S. Retail Banking Satisfaction Study, 78% of banking consumers expect personalized support from their bank. Yet only 44% of banking consumers felt their banks were delivering personalized support. This gap between expectations and experience has been noticed by banking executives. A 2021 survey of banking executives by fintech firm Bottomline Technologies found that 75% of respondents aren’t confident in their ability to offer personalization.