Banks and credit unions sit on a wealth of transaction data, but unlocking its value often requires the ability to structure, enrich and contextualize that information. As consumers spread their financial lives across multiple financial providers and expect the same level of personalization they receive from digital platforms, many financial institutions are looking for ways to transform transaction data into more actionable insights.
In this new American Banker white paper, sponsored by Mastercard, learn how open finance can help structure and enrich customer-permissioned transaction data to help drive insights, support the delivery of personalized financial products and insights at broader scale, and help strengthen accountholder relationships in an increasingly competitive financial landscape.
In this white paper you'll learn:
- Why personalized financial products and insights are becoming a growing focus area for customer engagement.
- How open finance can help financial institutions build a more holistic view of accountholders.
- Why structured, enriched transaction data can help with decisioning.
- How financial institutions can use customer insights to help identify engagement opportunities and support potential business outcomes.