Personalization in Banking - Thematic Research

Personalization in Banking - Thematic Research


This report provides an overview of the Personalization theme in Banking. It identifies the key trends impacting growth of the theme over the next 12–24 months, provides consumer survey data on which types of personalization matter most to banks’ customers, and includes market-level data on job analytics worldwide within the theme. It also offers a summary of key merger and acquisition activity, a timeline of key milestones in the theme’s development, a technology value chain, as well as firm-level analysis of leading players, both technology providers and financial service providers.

The ability to deliver personalization is not about any one technology or confined to any one area of customer interaction, or one set of bank processes. Instead, a multi-pronged approach is necessary, in which banks identify the types of personalization that promise to unlock the most value and outcome to customers, then seek to increase access to that data, consolidate that data, and run machine learning algorithms on that data to prove results (in increased customer satisfaction, online conversion, etc.), and play those results back to all stakeholders (customers and employees) to drive continued momentum and support for scaling personalization across the enterprise.


  • Personalized recommendations are key drivers for revenue growth in many industries. Amazon reportedly makes 35% of its revenue through recommendations alone, amounting to over $100 million per day.
  • According to a recent GlobalData survey, half of all baby boomers and nearly 60% of older customers indicate that “receiving a personalized service is not important to me”, compared to only 30% for Gen X and below 20% for younger customers (both Gen Y and Gen Z).
  • The highest scoring is the preference by Gen Z for tips and advice to help stay within budget. Gen Y and millennials also score highly for this feature.
Reasons to Buy
  • Understand key technology, macroeconomic, and regulatory trends impacting Personalization in Banking.
  • Identity priority application areas for Personalization in Banking as well as the vendors and banks delivering these experiences to end users
  • Access firm-level/case-study insight on the leading private and public players within the Personalization theme in Banking.

  • Executive Summary
  • Players
    • Table Figure 1: The key players in the personalization in banking theme
  • Thematic Briefing
    • Payments
    • Retail banking
    • Wealth management
  • Trends
    • Technology trends
      • Table Technology trends
    • Macroeconomic trends
      • Table Macroeconomic trends
    • Regulatory trends
      • Table Regulatory trends
  • Industry Analysis
    • Personalization requires an increased propensity to share data
      • Table Figure 2: Most customers are `willing' or `interested (but skeptical)' to share data for personalized service
    • Not all personalization is created equal
      • Table Figure 3: Personalizatio9n that helps customers realize financial goals matters most
      • Table Figure 4: Newly onboarded customers that hold two to three additional products with their primary provider are
      • Table Figure 5: Active branch users value more personalized services
    • Delivering personalization means competing for new talent
      • Table Figure 6: Citigroup is the leading firm hiring in personalization in 2022
    • Mergers and acquisitions
      • Table Figure 7: The number of personalization deals in banking was highest in 2015 and 2018
      • Table Figure 8: 2015 saw the largest deal value for personalization in banking
      • Table M&A activity within the theme in recent years
    • Timeline
      • Table Figure 9: The personalization in banking story
  • Value Chain
    • Table Figure 10: The financial services value chain
    • Product manufacture and development
    • Data management
      • Data storage
      • Data aggregation
      • Data processing
      • Data analysis
      • Data integration
    • Distribution
  • Companies
    • Financial service providers
      • Table Financial service providers
    • Technology providers
      • Table Technology providers
  • Sector Scorecard
    • Retail banking sector scorecard
      • Who's who
        • Table Figure 11: Who does what in the retail banking space?
      • Thematic screen
        • Table Figure 12: Thematic screen
      • Valuation screen
        • Table Figure 13: Valuation screen
  • Further Reading
    • GlobalData reports
      • Table GlobalData reports
  • Our thematic research methodology
    • Table Figure 14: Our five-step approach for generating a sector scorecard
  • About GlobalData
  • Contact Us

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