Wealth management: Embracing next-gen behavior analytics

Digital Reinvention
13/09/2022 Article
Logo of

Behavior analytics: The shift from personalization to hyper-personalization

In the wake of the COVID-19 pandemic, leading wealth firms witnessed accelerated customer embrace of digital channels, increased consumption of direct-to-customer services, and rising use of self-service tools, digital marketing, and engagement platforms. Now it is time for firms to further elevate the digital foundation by designing behavioral interventions, sifting through a deluge of new data to generate actionable behavioral insights.

The availability of data to derive behavioral insights is significantly influenced by the maturity of the relationship—more data becomes available as prospects become clients and deepen their relationship with the firm. Leveraging data available at every customer touchpoint to derive behavioral insights can enable a shift from personalization to hyper-personalization at scale. The benefits of embracing behavioral analytics are thus manifold—deeper relationships have the potential to substantially increase in wallet share through differentiated services, improve client engagement, enhance advisor performance, deliver delightful experience, and drive business growth.

This content is reserved for our members

Join Qorus to keep reading

Related news & insights

Digital Reinvention
23/03/2023 Interview

Reshaping Banking: Kuwait International Bank (KIB)

Kuwait International Bank’s goal is to become a “Bank for Life” for its customers – putting their needs at the...

Digital Reinvention
22/03/2023 Interview

Maturity of customer data: HSBC UK

Rob Fleming is Head of Data, Analytics and CRM at HSBC UK. He tells Qorus and Wavestone how they utilize...

SME Banking
21/03/2023 News

livi launches its digital banking service for the underserved SMEs

livi Business, an empowering digital banking experience that meets the needs of Hong Kong’s underserved SMEs, is now fully launched.

Digital Reinvention
21/03/2023 Interview

Ally Tech Labs: the place to build tomorrow’s bank

An exclusive interview with Harish Naik, Head of the Ally Tech Lab, to learn all about where and how Ally,...

Digital Reinvention
20/03/2023 Interview

Amazon Insurance Store: Exceeding customers' expectations

In October 2022, Amazon announced the launch of the Amazon Insurance Store—a new, simple, and convenient way for UK customers...

Digital Reinvention
20/03/2023 Article

How the digital human industry is changing the customer relationship

Virtual characters are one of the biggest digital opportunities for organisations. In China alone, tech company Baidu said that the...

Digital Reinvention
20/03/2023 News

CaixaBank introduces its digital onboarding and digital mortgage services for Dutch citizens

CaixaBank, Spain’s leading bank by clients, will be attending and showcasing its financing solutions at the Second Home Expo 2023...

16/03/2023 Interview

Maturity of customer data: Yapi Kredi

Bora Üzüm is Vice President of Analytics and Data Governance at Yapı Kredi. He tells Qorus and Wavestone how they...