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Forrester report

Customer data platforms in financial services

Financial consumers have quickly adopted technologies including smart phones, social media, online banking, and cash-free payments. As a result, financial marketing is much more complex. Consumers now interact through new systems in more channels, their expectations for a convenient, personalized experience are higher, and regulators are trying to balance safety, privacy, and fairness.

The only way marketers can thrive in this new landscape is to expand their own technology toolkit with a focus on taking full advantage of the first-party data created by all systems.

This report from the Customer Data Platform Institute dives deeper into effectively utilizing customer data platforms in financial services.

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Key takeaways

  • The key to addressing data challenges is to create a central database that gathers customer information from all sources to create a unified single customer view
  • Financial services companies have been building customer databases with tools that are ill-suited to the task
  • Customer data platforms are designed specifically to address modern marketers' needs for a unified customer database