Lock in a year of Digiday+ for 35% less. Ends May 29.
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 Shop says sales from U.S. small businesses climbed 66% in 2025
U.S. small businesses on TikTok Shop increased sales by 66% in 2025 compared to the year before.
Walmart warns it may have to raise prices due to fuel costs
The possibility comes as higher fuel prices are already putting pressure on household budgets.
OpenAI gives ChatGPT ads a visual upgrade
OpenAI is building on its single ad format to include some new iterations that give advertisers more optionality over their appearances.