Some banks are mining their customer data to target messages narrowly based on what they think people will be interested in. Rob Lee, chief product officer for banking and payments at financial-technology company FIS, says his company is helping banks with just-in-time marketing. For decades, they were more interested in buying other banks to become bigger, then integrating the target bank’s technology to cut costs. A data-analytics company in San Francisco, Motista LLC, helps banks tailor their marketing messages based on psychology and emotions. Different marketing messages are then tailored for each group.

Source: Wall Street Journal April 25, 2017 02:09 UTC