The Times, Raconteur, UK: Cognizant’s UK Head of Banking and Financial Services Says Financial Services Providers Need to Move Into Lifestyle-Based Banking

Abhijit Deb says personalization will allow financial services brands to become more like lifestyle brands.

“The last few years have seen banks, card issuers and lenders push the boundaries of personalization to try to ‘understand and own’ their customer interactions,” he says.

“This is part of a strategy to promote customer loyalty and boost cross-selling and up-selling, where companies try to sell customers more expensive products,” Deb notes. 

He adds, “Financial services providers realize that they need to go beyond simple transactional relationships and move into lifestyle-based banking, where they are at the center of any financial decision their customers make.”

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