It’s been a while since the industry has been on such a roller coaster, and that has even the most seasoned financial professionals scratching their heads about how to plan for 2023.
A recent U.S. strategic priorities benchmark study* found that many financial institutions are sharing the same four concerns heading into 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