Banking's Data-Driven Makeover: Delivering Services in Addition to Products

In recent years, retail banks have lost their shine. Manyhave become a storefront for financial products without deeper insight into their customers’ wants and needs, making it feel as though they’re blindly attempting to sell banking products. This approach is no longer cutting it: according to data from the Financial Conduct Authority, there was no change in the number of bank or building society accounts from 2017 to 2022.