Gartner Research

Customer-Supplied Data Will Strengthen Banks' Digital Position

Published: 14 September 2015

ID: G00277260

Analyst(s): Alistair Newton


Many banks are still making poor decisions about their customers, because the data they hold on those customers lacks context and relevance. In a digital world, encouraging customers to share their data will improve bank insight and customer experience, and start to redefine the role of the bank.

Table Of Contents
  • Impacts


Impacts and Recommendations

  • Bank CIOs and LOB heads should know that, if customers are supplied with appropriate tools, and they see some personal benefit in doing so, they will add their own data to that already in possession of the bank.
  • Combining existing bank data with customer-supplied data, as well as other external data sources, will provide LOB heads with the opportunity to define more-impactful self-service capabilities and a better customer experience.
  • Too little of the data used by bank marketing and technology teams has been supplied directly by the customer, resulting in the provision of product and service propositions that lack granularity and/or personalization. Customer-supplied data will also assist bank CIOs and LOB heads in developing more personalized and granular product propositions that directly address individual customer needs.

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