While it has become commonplace for banks and thrifts to gather detailed information about their customers, most financial institutions do not use these data very well, according to a study by Mentis Corp.

The Durham, N.C., market research firm said it surveyed nearly 300 U.S. and Canadian banks and thrifts by telephone last fall. It found that 35% of these financial institutions were not identifying customers who could be enticed to use other, more profitable products and services offered by the companies.

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