Over the last three years, searches for banking products like credit cards and personal loans have been steadily increasing. Singaporeans searched for personal loans 84 per cent more than they did before, while interest in credit cards in the Philippines increased by 31 per cent. In Australia and India, 80 per cent and 89 per cent of searches related to financial services are related to these categories.
Across APAC, more and more consumers are using their mobile phones not only to research what banks have to offer but also how to educate themselves when it comes to money. In fact, “how to invest money” and “what is a mutual fund” are among the top mobile searches in India, while Australians are using their smart phones to help them plan for home loans.
Despite this trend toward digitisation, many APAC banks have yet to take full advantage of new tools and technology that can help them make the most of digital data and measure its true impact on consumers.
The learning curve has been slow, with only a few banks championing the different roles digital can play throughout the customer journey.
APAC banks can provide a more holistic, omni-channel banking experience by unifying data to achieve a clear view of the consumer. Keep reading to learn how some of the world’s best data-centric companies use data and machine learning and ultimately determine where your company stands on the path to data centricity.
UNDERSTAND THE FULL VALUE OF DATA
The journey to data-centric marketing starts by understanding the full value of data. Data can help you achieve a full view of digital’s impact on your bottom line and develop omni-banking marketing strategies across all channels.
We’ve found that best-in-class companies use data to power these three core strategies in their businesses:
This story is from the May 2018 edition of SME Magazine Singapore.
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This story is from the May 2018 edition of SME Magazine Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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