Strands was invited to be a keynote speaker at the “Customer Acquisition and Retention” conference of the European Banking Forum 2014, which took place in Amsterdam during the 14th and 15th of May 2014.
Dr. Marc Torrens, Chief Innovation Officer at Strands, presented the new vision on Personalized Recommendations for Digital Banking. Based on extensive experience, Strands strongly believes that banks should exploit the customer data in order to transform digital banking from offering process-oriented to user centric services. The first generation of digital banking was about offering process-oriented services such as transactional operations through digital channels. The next generation of digital banking is about offering user centric services based on customer behavioral data. These user centric services range from PFM to context-aware, problem solving solutions or intelligent product recommendations.
The keynote presentation was centered on the topic of how to evolve traditional digital advertising of financial products into personalized recommendations in order to increase its efficiency and at the same time provide added value to the customers. The presentation included different aspects such as the importance of the context, the level of personalization, the need to provide rationale, and how to make recommendations actionable.