Water Cooler Talk

How Banks Can Unleash First-Party Data Safely

In the transition to a cookie-less future, banks must leverage first-party data while maintaining privacy and regulatory compliance. By adopting privacy-centric strategies, banks can enhance customer experiences, boost engagement, and foster trust. Key tactics include contextual relevance in credit card offers, targeted marketing using first-party data, and ensuring transparency and fairness in data practices. These approaches help banks drive sustainable growth and maximize customer lifetime value.


Read the PaymentsJournal article here.

Here is a brief summary:

  • Shift from third-party to first-party data due to privacy concerns and regulatory changes.
  • Emphasis on privacy-safe strategies and compliance with laws like the Equal Credit Opportunity Act.
  • Utilization of first-party data for personalized marketing and contextual offers.
  • Importance of transparency and ethical data practices to build consumer trust.
  • Goals to enhance customer engagement, loyalty, and lifetime value through targeted initiatives.

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