Banks are realizing the need to understand their customers like never before. Today’s customer expects – actually demands – to be treated as an individual Consumer and business depositors will be more valuable to the banks than ever before; failure to communicate with these customers at the right time, through the right channel, with the right offer will slowly wear away the client base.
Further availability of a single view of customer would also facilitate the banks. The earlier they realize and accept these issues, the faster they would be able to face competition from their counterparts.