Why Hyper-personalisation Is The Next Big Thing In Banking

Despite personalisation being a popular concept in the banking industry, 94% of banks are unable to provide customers with the kind of hyper-personalisation they prefer. Ram Devanarayanan, head of business consulting Europe at Infosys Finacle, breaks down the three key aspects banks must focus on to enable hyper-personalisation at scale. Hyper-personalisation refers to a thorough and nuanced understanding of each customer’s needs, preferences, and behaviour, which banks leverage data and analytics to gain. This allows banks to offer targeted services and products that are tailored to the individual customer, resulting in a more engaging and satisfactory customer experience.