Summary of What Does Personalization in Banking Really Mean?

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

What Does Personalization in Banking Really Mean? summary

Editorial Rating



  • Analytical
  • Eye Opening
  • Overview


Customers want their banking transactions to resemble their experiences on Amazon, explains this illuminating Boston Consulting Group article. The growing wave of personalized consumer experiences means that banks can no longer gain the same benefits from segmented product offers and other conventional practices. Learn how to chart your firm’s course toward personalization and what tools to pack for the journey. 

About the Authors

Sonia Brodski, Laurent Desmangles, Stefano Fanfarillo, Shervin KhodabandehSilvio Palumbo and Maximiliano Santinelli are professionals with the Boston Consulting Group.


For decades, banks have benefited from a strategy of segmenting product offers. Now, those benefits are shrinking as consumers crave more individualized interactions like those they’ve experienced in the tech and retail industries. Most people willing to change banks say that they’d open accounts with a big tech firm like Amazon or Facebook if possible. But banks can still compete if they use their data and customer interfaces to personalize every aspect of the customer experience, including digital and in-person transactions. Customizing the experience at call centers and branches could be a “game changer.” Done...

Comment on this summary

More on this topic

By the same authors

Global Payments 2016
Global Payments 2015
The Bionic Company
Top 10 Digital Transformation Trends for 2021
Inside Pictet, the Secretive Swiss Bank for the World’s Richest People
The Next Frontier in Digital and AI Transformations
The Service Factory of the Future
Taming the CRM Beast to Boost Sales

Related Channels