Connect with execs from Axios, The New York Times, Paramount and more.
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
D+ Research: Marketers hesitate to adopt AI for influencer and CTV marketing
Advertisers embrace AI for social media and retail media marketing, but are slower to adopt AI for influencer and CTV marketing.
OpenAI set to expand ads to France, Germany and Ireland
The ads solutions vacancies in those markets signify that OpenAI will have achieved a presence in every major global advertising region within less than a year.
How Bandit Running is expanding internationally while staying hyperlocal
Bandit’s focus on core running communities has helped it grow enough to start expanding outward.