Banks traditionally have been known to amass customer information across both online and offline data channels. However, a lot of this data resides in silos and marketers have been unable to leverage this data to run targeted marketing campaigns. Here are the top four reasons why a Customer Data Platform would be best suited for Banks.

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Why Do Banks Need A
Customer Data Platform?

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• Increase customer online
engagement.
• Provide a consistent and
personalized experience across
a range of marketing channels.
• Marketers have been unable to
leverage the data which are
mostly available in silos to run
targeted marketing campaigns.
CHALLENGES FACED BY THE FINANCIAL
MARKETERS

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Customer Data Platform (CDP), would help
banks address these challenges by ingesting
all the siloed customer data into a unified
customer profile and store them in a single
data repository.
Marketers could in turn use this data to run
personalized marketing campaigns that result
in positive outcomes.

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Here are the top 4 reasons why a
Customer Data Platform would be best
suited for Banks.

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Customer’s data are spread out across all the disparate data sources like;
#1 Unify data across all data points
Customer
Data
Platform
POS Systems
CRM
Applications
Data
Warehouses
Legacy
Systems
CDP can help these data
aggregate and organize
customer data to get
single unified view

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• With CDP, data can be unified
into single view for each
customer.
• Marketers can use this unified
data and target customers in
more Personalized manner
across customer’s preferred
channels.
#2 Single unified customer view

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• Banking marketers can now ensure
that customer information like
names, addresses, preferences,
etc. are accurate and up-to-date.
• Customer Data Platforms help
banks maintain data accuracy by
processing and updating customer
information in real-time.
• Marketers can run targeted
marketing campaigns without any
concerns about Customer data
integrity.
#3 Process customer data in real-time

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#4 Data Insights that drive hyper-personalized marketing campaigns
With a Customer Data Platform, a
banking marketer can gain access to data
insights for each customer who interacts
with the bank, their product preferences,
preferred marketing channels, and many
more.
With this information, marketers can run
hyper-personalized marketing campaigns
through the right channel and at the right
time.

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Every channel comes with its own features and capabilities.
Financial marketers need to thoroughly understand what value
they can derive from them.
Get through a detailed information regarding the challenges that
financial marketers go through in the blog mentioned below,
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10. Thank you