All articles by Janet Titterton

Banks must get granular with data

As retail banks toil to restore their fortunes and repair damaged consumer confidence, the need to enhance and deepen customer relationships has never been greater. Only by understanding their customers better, will banks be able to offer product and service features, and associated benefits, more tailored to individual customer requirements, argues Janet Titterton. European economic recovery remains an elusive beast, with economic indicators from governments and trade bodies continuing to provide mixed messages about the state of consumer confidence. Market conditions therefore remain challenging, to say the least, for retail banks. Thanks to the financial crisis, the recession and increased regulation, there is an urgent need to rebuild banking revenues. Indeed, according to the European Banking Authority in April, only 44% of Europes biggest banks would pass the core tier one capital adequacy requirements of Basel III, were those regulations introduced in one fell swoop.