Why banks need an automation plaform designed for the financial sector

Posted by Ianai Urwicz on Dec 20, 2018 7:43:00 AM
Ianai Urwicz
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prisma_marketing_for_financeA platform designed for the financial market has many advantages: precise segmentation, an automated flow that complies with the strict regulations banks are subjected to, just to name a few but the list continues.

Automation is the most efficient way to manage data and obtain usage statistics. Even so, not everyone is taking advantage of the potential of these tools. In comparison with other industries, those who are dedicated to marketing within the financial industry, prioritize the automation of their work 6% more than in other sectors. 

[[Read more. Marketing Automation and CRM: A match made in heaven]]


Nearly 36% of financial institutions considered two aspects of high priority for the 2018:

  • A marketing automation system
  • Personalization

When choosing an automation platform, what are the advantages of using a platform designed specifically for the financial sector?

prisma_finance_customers_onlineTo give a clear example, when it comes to prospects, automation platforms in general tend to segment individuals based on different characteristics, one of which, for example, is industry. When we work with a platform designed for the financial market, segmentation is much more precise because it is intended for a previously defined group.

One of the benefits of the financial sector is the amount of information you can obtain about your customers. This facilitates the task at the time of segmenting, since we have variables that other sectors do not have and that must be taken into account by the digital platforms that we use.

Although we will also have the most common segmentations such as geographic location, we will be also able to analyze much more of personal information, the kind that people usually only offer to a particular service such as their bank.

Banks or credit unions usually not only have personal data, but also know the financial situation of each person, their activities and interests, and even how the family is composed. A platform specifically designed for the financial sector will consider every aspect of the audience behavior both offline and online.


When it comes to digitizing communications, one of the most prevalent concerns for banks and financial institutions is whether the tools meet security standards. The methods of digital marketing must comply with the same regulations as offline operations when it comes to protecting the privacy of its customers.

Therefore, a platform for financial services, already takes into consideration that banks are subject to much stricter regulations. If our process starts from scratch in an automated flow that complies with the regulations, the creation of content, the planning of campaigns and their distribution, will always follow the same path.


Where does all that information go? To personalization!

The database is the starting point of our action plans, and it should be given the importance it deserves.

Some platforms are only managed with a pre-existing database or manual loading, others with databases that incorporate the information acquired through digital channels. But those platforms for the financial industry, tend to collect information from various channels, and centralize the work in one place.


Compared to other services, the financial industry still demonstrates a great resistance to operations exclusively online, resulting in much of the interaction with its customers to continue through traditional channels. At least 50% of bank users still choose to conduct their operations in direct contact with a representative.

Therefore, it is important that both the interactions and the databases are centralized in one place, regardless of the channel. In the same study conducted by Digital Banking Report, only 49% of financial institutions considered the use of data collected offline to improve the experience of its users.

Fortunately, there are platforms designed for banks that give us a 360 view of the profile of each individual and run campaigns through different channels such as mobile applications, SMS, email, or call centers.

[[Read more. How to build a personalized omnichannel campaign in banking?]]


If our marketing automation system is smart, our decisions will follow suit. Through special algorithms for the financial industry, we can evaluate all that information we have and determine what comes next. To this client, do I offer a new product or a loan? If a client does not like a banner, it is not shown again. If the client already has a product, it will not be offered again. It also allows to identify the channel of preference of each user in real time and the stage of purchase on which they are.

prisma_client_digitalSuch a specific tool is a great opportunity to nurture the relationship with our clients and make each message relevant. Think of it as if you were going to give a dinner party, you would like to know in advance if among your guests someone is vegetarian or intolerant to gluten, or if someone loves salads or if someone is pregnant so she won’t drink alcohol. This information would let you make the perfect menu that takes into consideration everybody’s needs and preferences.

It will simply make you an amazing host and your dinner party a lovely one that your guests will recall as perfect, eager of returning the next time.

So, if you're looking for a marketing automation software, may be the next guide will be useful for you. It's full of tips to take into account in the process!



Topics: Ominchannel Marketing, Finance, Prisma Campaigns, Digital marketing Campaign


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