A recent U.S. strategic priorities benchmark study* found that many financial institutions are sharing the same four concerns for 2023:
• The Economic Outlook
• Waning Customer Loyalty
• Exploding Services and Payment Trends
• Which Technology Is Worth The Investment?
The way to combat all of the above concerns? Using data intelligently. Banks and credit unions have a wealth of insights within their account holder data, but must improve how that data is put into action.
Data is the great equalizer, FIs need to harness their data to execute on The Top 4 Budgeting and Data Strategies for 2023:
1. Execute a Data-Driven Strategy
2. Utilize Predictive AI Modeling
3. Integrate Data with Email Channel Delivery
4. Leverage Marketing Technology
*Source: Jack Henry annual Strategic Priorities Benchmark Study