Join us Dec. 1-3 in New Orleans for the Digiday Programmatic Marketing Summit
Banks are falling behind when it comes to understanding — and using — data
Banks are falling behind when it comes to data strategy, especially when it comes to matching — and competing with — platforms.
Finance companies typically monetize data by using it to personalize product offerings for customers, such as credit cards based on transactional history or loan offerings based on customer ages and milestones. But with the shift to open banking systems and the integration of AI technologies, banks will soon look to emulate the monetization models of companies like Facebook and Amazon to create incentives for customers to generate more data and new types of data.
“Banks are just starting to think about data as a revenue source,” said Bradley Leimer, head of fintech strategy at Explorer Advisor & Capital, adding that it’s an interesting time as banks dabble in platforms and AI-driven processes.
More in Marketing
TikTok dangles cash, credits and fully-funded deals to supercharge U.S. Shop spending
The platform has shared a plethora of incentives, to motivate sellers to spend more money.
Agencies are racing to offer zero-click analysis tools, but monetizing them isn’t easy
Marketing services companies are rushing to answer clients’ zero-click queries. The jury’s out on whether clients will pay for those answers, however.
Influencer partnerships expand, though unevenly across the creator economy
The result is a creator economy caught between maturity and hesitation — growing up fast but not all at once.