target audience: TECH BUYER Publication date: May 2024 - Document type: IDC Perspective - Doc Document number: # US51446724
Customer Data Platforms Will Boost Loyalty and Lifetime Value for Retail Banking Customers
Content
List of Figures
Get More
When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment.
Related Links
Abstract
This IDC Perspective highlights the importance of customer data platforms (CDPs) in creating seamless customer experiences and leveraging GenAI for personalized advice, as well as the necessity for banks to adopt a digital-first approach to remain competitive while improving their overall efficiency. Customer data platforms are increasingly vital for retail banking, offering a comprehensive view of customer behaviors, enhancing loyalty, and helping generate more lifetime value. By addressing challenges like data latency, compliance, and fragmentation, CDPs enable banks to deliver personalized experiences across the omni-channels.
"Embracing CDPs in banking isn't just about data integration; it's about unlocking unparalleled customer loyalty and lifetime value," says Marc DeCastro, research director, IDC Financial Insights.