Customer Data Platforms Have Become an Essential Bank Marketing Tool

Read the original full report from the Financial Brand here.

Here is a brief summary of the article:

• CDPs allow banks to collect customer data from various sources, normalize it, and create unified customer profiles.
• They offer data management capabilities, robust analytics, orchestration of marketing campaigns, data regulation compliance, and third-party systems integration.
• Banks can leverage CDPs to improve data consolidation, gain a unified view of customers, and drive loyalty through personalized experiences.
• CDPs help banks overcome data gaps by providing AI-based data consolidation, role-based accessibility, and real-time customer insights.
• The CDP market is projected to grow significantly, with many vendors expanding into areas like personalization, multichannel marketing, and consent management.