Achieving Personalisation at Scale in Financial Services

In a rapidly evolving digital landscape, financial services firms face growing demands for tailored customer experiences. Yet, only a fraction of the industry achieves deep personalisation, highlighting a significant gap in maturity and capability. How can firms scale personalisation to meet these expectations while navigating resource constraints and regulatory pressures?

The Personalisation Landscape

Recent research reveals that while 73% of financial services firms adopt some level of personalisation, only 22% have advanced to micro-segment strategies, and just 12% achieve true one-to-one personalisation. Many firms aim to bridge this gap, recognising the immense value of micro-segment personalisation as a pragmatic step towards improved customer relevance and engagement.

Barriers to Scaling Personalisation

Achieving personalisation at scale is not without challenges:

• Data Silos: Integrating data across systems remains a persistent obstacle.
• Talent Shortages: Only 36% of firms feel adequately staffed to meet their goals.
• Fragmented Ownership: A lack of clear leadership often hinders progress.

Firms must address these gaps through investments in data infrastructure, leadership roles, and specialised skills development.

Strategies for Success

To overcome these challenges, financial services firms should:

• Build a robust data foundation for a unified customer view.
• Align incentives across teams to ensure personalisation goals are prioritised.
• Establish a flexible operating model balancing central governance and team autonomy.

The Impact of Advanced Personalisation

The potential rewards are substantial. Moving from basic to micro-segment personalisation can multiply conversion rates by over three times, while one-to-one personalisation offers a staggering 43.9% increase in conversions. Firms leading in personalisation are poised to gain a decisive competitive advantage in a customer-centric era.

Ready to Lead the Personalisation Revolution?

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