Businesses can see a spike in revenue due to the implementation of hyper-personalization as it is always proven that customers are tied to the companies that provide personalized digital experiences. Read more: https://www.cigniti.com/blog/hyper-personalization-digital-banks/

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Hyper-Personalization: A Key Enabler in the Digital Evolution of Banks

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Hyper-Personalization: A Key Enabler in the Digital Evolution of Banks
Why Hyper-personalization?
In recent times, customers are looking for a customized solution for their specific requirements and utilizing the digital
features of banking as per their needs. Moreover, banks have realized the economic advantage of personalization which
can bring in considerable cost reduction by providing diverse cutting-edge products with AI, ML, and big data capabilities.
Banks are now trying to cater to customer personalization while meeting the larger organization goal.
Real-time data combines with AI processing to control how you deliver content, suggest next steps, and respond to events,
thereby controlling every touchpoint in your process map based on customer data. While it cannot be used to design
strategies or replace multivariate testing, it can be used to control how you deliver digital experiences to users.
Data Collection
It is very important to arrive at a solution unless we have the data to make the prediction. Hence, it is critical in achieving
hyper-personalization to data collection, organizing, and utilizing as much data as possible about our consumers. The data
gives you insight into behavior patterns and helps you create an ideal customer profile. It also empowers you to create
hyper-personalized messages, products, and services to draw in and retain your ideal audience. The precision of hyper-
personalization is determined by how well we know our customers. So, it is very important that organizations collect the
data using the latest technologies and make use of Robotic Process Automation in utilizing important consumer data.

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Hyper-Personalization: A Key Enabler in the Digital Evolution of Banks
Digital banks today need to keep up with the ever-changing technology landscape and the 24/7 demands of customers.
Banks must provide complete functionality in the highly fragmented mobile and browser technology fragmentation, as
well as end-to-end validation of both front and back-end systems and ensure a consistent multi-channel delivery
experience with the best usability and compatibility.
Cigniti, with its experience of being the core banking digital transformation and testing partner for pioneering mobile-only
banks in the US and UK, has vindicated its capabilities in areas such as omni-channel banking, retail banking, corporate
banking, centralized banking, mortgages, cards, and payment gateways. Cigniti has in-depth experience in testing across
diverse industry standard products such as T24, Finacle, Flexcube, Bancs24, and Vision Plus, and compliance with
regulations such as BASEL, BCBS 239, SEPA, AML, FATCA, etc.
Schedule a discussion with our Banking domain experts to learn more about how hyper-personalization is becoming a key
enabler in the digital evolution of banks.
Read the full blog to know more:
https://www.cigniti.com/blog/hyper-personalization-digital-banks/

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